Insurance planning for rental property owners

List the address, legal owner, number of units and actual occupancy. Identify any owner-occupied portion, business tenant, furnished space or short-term rental. Describe the property manager's role and who maintains the building.

Explain changes in use before relying on the existing policy. Moving out and renting the home, adding a unit or switching to frequent short stays can change the coverage questions. The broker can review whether a landlord, commercial property or other eligible approach fits the facts.

Provide construction details, roof and system updates, and information about renovations. Ask how the proposed building limit was estimated and how a covered repair or rebuild would be valued. Purchase price and mortgage balance are not automatic substitutes for a rebuilding estimate.

List appliances, furnishings and maintenance equipment you own at the property. Tenant belongings are a separate matter and generally are not insured by a landlord's building policy. Clarify what is included in the proposed property schedule and any special limits.

Lost-rent coverage may apply when a covered event prevents a property from being rented, subject to its terms. It is not a general guarantee against missed rent, vacancy or a slow rental market. Ask about covered causes, limits, time periods and required records.

Review liability and flood questions separately. Standard property protection generally does not include flood, and an umbrella needs to be checked for the actual rental exposure and underlying policies. Do not assume a personal umbrella automatically accepts every rental property.

Tell Daniel about gaps between tenants, substantial work, a planned sale or a change in rental duration. Ask how the policy defines and treats occupancy changes. A property being renovated may need a different review from one continuously occupied by tenants.

If a booking platform offers protection, read its terms alongside your own policy. Platform protection should not be assumed to replace the property owner's insurance. Keep current leases, property details and insurance documents organized so a quote review starts from the same facts.

• Property addresses, legal owners, unit counts and occupancy.
• Roof, system updates, renovations and any vacant periods.
• Rental use, income information and owner-provided furnishings.
• Existing policies, lender requirements and flood questions.