Last updated: March 2026
How Much Does Landlord Insurance Cost?
Cost Breakdown by Type
| Type / Procedure | Without Insurance | With Insurance |
|---|---|---|
| Single-Family Rental (monthly) | $0 – $0 | $75 – $200 |
| Multi-Family/Duplex (monthly) | $0 – $0 | $100 – $250 |
| Commercial Rental Property (monthly) | $0 – $0 | $150 – $300 |
What Affects the Cost
- Your age, location, and health status
- Coverage level and deductible chosen
- Provider or carrier
- Claims history
- Credit score (for some insurance types)
- Discounts available (bundling, loyalty, safe driver, etc.)
Insurance Coverage
Typical coverage: Landlord insurance covers rental properties against damage, liability, and lost rental income. It is more comprehensive than standard homeowner's insurance for investment properties.
Insurance costs vary widely based on coverage level, location, age, and claims history. Shopping around and comparing quotes is the single most effective way to save money on insurance premiums.
How to Save Money
- Compare quotes from at least 3-5 providers
- Bundle policies (home + auto) for 10-25% discounts
- Choose higher deductibles for lower monthly premiums
- Ask about all available discounts
- Review coverage annually during open enrollment
- Consider employer-sponsored plans which subsidize 50-80% of premiums
Related Procedures & Costs
Frequently Asked Questions
Landlord insurance costs approximately 15 to 25% more than standard homeowner's insurance. For a $300,000 property, expect to pay $1,200 to $3,000 per year.
Landlord insurance is not legally required in most states, but mortgage lenders typically require it for investment properties. It is strongly recommended to protect your investment.
It covers property damage, liability for tenant or visitor injuries, lost rental income during repairs, and legal costs for evictions or lawsuits.