Nevada Rental Property Insurance

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There has never been a better time to consider purchasing investment or rental property in Nevada, especially the greater Las Vegas area.    Real estate values have fallen to levels not seen since the mid-1990’s.  While we may not be at the bottom quite yet, most analysts think properties values will begin rising in the next year or two.

Investors need to be aware that traditional homeowner insurance, commonly know as an HO-3 policy, is not meant to cover an investment or rental property.   An HO-3 policy requires that the home be owner-occupied, obviously an issue for a home that is occupied by tenants.   To properly cover a Nevada rental home, investors should purchase a dwelling fire policy, also known as a DP-3.   The DP-3 policy allows for either tenant or owner occupancy and can be tailored to meet the very specific needs of a landlord.

For example, the following coverage is only available on a dwelling fire policy:

  • Rental income – loss of rents due to a covered loss (such as a fire that forces the tenant to move out)
  • OLT (owner, landlord, tenant) liability – protection for the landlord from bodily injury claims related to the ownership and use of the rental home, including negligent acts of the tenant.
  • Landlord contents – coverage for furnishings and appliances that the landlord provides to the tenant.

We specialize in providing insurance for Nevada rental property.   If you are currently a landlord, or are thinking about purchasing investment property in the Las Vegas, Henderson or North Las Vegas area, please contact us today.    We can provide you quotes from multiple insurance companies, ensuring you get the best value for your premium dollars.

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