Landlord & Rental Property Insurance in Missouri

No, and it is one of the most expensive quiet mistakes in rental ownership. A homeowners policy is written for a home you live in. Once tenants live there, the insurer can investigate occupancy and deny the claim.

A tenant-occupied property needs a landlord policy, usually a dwelling fire form such as a DP-1 or DP-3. If your rental is still on a homeowners policy, fixing it takes one phone call.

Three coverages do the real work: the dwelling at rebuild cost, landlord liability for injury and property damage claims tied to the rental, and loss of rents when a covered loss makes the unit uninhabitable.

Landlord-owned property like appliances gets its own limit. What it never covers: tenant belongings, unpaid rent from a bad tenancy, or eviction costs.

A DP-1 is a basic named-perils form. It covers only the causes of loss listed in the policy and often pays at actual cash value. A DP-3 is broader. It generally covers the building against any cause of loss that isn't excluded and is more often written at replacement cost.

A DP-1 can make sense on an older or lower-value property. For most single-family rentals and duplexes we start the conversation with a DP-3 and compare.

It depends on the property, not the ZIP code alone. Rebuild cost, roof age and condition, the heating, plumbing and electrical systems, claims history, deductible, and how the property is rented all move the number.

We quote Farmers first and, when Farmers isn't the best fit, Farmers family companies such as Foremost, or other companies through Kraft Lake, then walk you through the options. The premium is generally a deductible business expense, so confirm the after-tax cost with your CPA.

Sometimes. Depending on how many rentals you own and how they are titled, the options may range from separate dwelling policies with one renewal date to a single policy that schedules every property.

Either way, one office sees the whole picture, and one umbrella can often sit over all of it. Send us a list of addresses and how each one is owned, and we will lay out the options.

Usually. Dwelling fire forms are typically built for one- to four-unit properties. Larger apartment buildings are generally written on a commercial property policy, often with general liability, loss of rents and equipment coverage built in.

Mixed-use buildings and buildings with a shared laundry, parking lot or common areas add liability exposure, so tell us everything on the property when we quote it.

It changes the paperwork. The named insured on the policy should match how the property is actually titled, so a property deeded to an LLC should be insured in the LLC's name, and you may want yourself or other members listed too.

A mismatch between the deed and the policy is an avoidable claim problem. The entity decision itself belongs to your attorney and CPA. Our job is to make the insurance match it.

We think most landlords should look at one. Rental property attracts liability that owner-occupied homes do not, and an umbrella adds a layer of liability over your rentals, your home and your auto at once.

If your rentals are in an LLC, ask us how the umbrella and the named insureds line up. That detail matters more than the limit.

When a covered loss makes a unit unlivable, the tenant may not owe rent while it is being repaired, depending on your lease and Missouri landlord-tenant law. Your mortgage, taxes and other costs keep coming.

That gap is what loss of rents coverage is for. Ask a landlord-tenant attorney about your lease. Ask us to size the coverage to what the unit really rents for.

Generally yes. Wind and hail are typically covered on a DP-3, and loss of rents can apply while covered damage keeps the unit out of service. The details that matter are the deductible and how the roof is settled.

Some insurers use a percentage deductible for wind and hail, such as 2% of the dwelling limit, and some settle older roofs at actual cash value. Know both numbers before storm season. Flood is always a separate policy.

It depends on where the water came from. Basement water from a sump pump failure or a sewer backup is usually excluded on standard policies unless you add a water backup endorsement.

Surface water and flooding are excluded and need a separate flood policy. On a rental with a finished basement or a furnace and water heater downstairs, the backup endorsement is worth a look.

Tell us before it happens.

Many dwelling policies limit coverage once a property sits empty past a set period spelled out in the policy, and vandalism, glass breakage and freeze damage are often the first to be limited. A Missouri winter turns a vacant unit with the heat off into a burst-pipe claim. Keep the heat on or the water shut off and drained, and ask about a vacancy endorsement for longer gaps or renovations.

Never, and they should not be. That is what renters insurance is for.

Require it in the lease with a minimum liability limit, ask to be added as an interested party so you hear if it lapses, and verify at each renewal. A tenant with their own coverage means their loss goes to their own insurer instead of becoming your dispute.

No. A tenant who stops paying is a legal problem, not a claim.

Loss of rents responds to covered physical damage that makes the unit uninhabitable, not to a bad tenancy. Eviction costs and rent you never collected are not on the policy, and screening remains the better investment.

Yes. Standard landlord forms are written for longer-term tenants and often exclude short stays. Platform host protection is not an insurance policy you control.

Check your city or county rules first, then ask us what is available for that use. A cabin near the Meramec rented by the weekend is a different risk from a year-long lease. Disclosing the rental pattern up front matters. A denied claim costs far more than the right policy would have.

Living in one side of a duplex or renting out the unit over the garage changes your coverage in ways a standard homeowners policy may not handle.

Depending on the setup, the fix may be an endorsement, an owner-occupied form for two to four units, or a separate policy. Tell us the arrangement before the tenant moves in.

Standard landlord policies do not cover flood. If a rental sits in a high-risk flood zone and has a mortgage, the lender will require flood coverage. Rentals near the Meramec or Bourbeuse rivers, or creeks that rise in heavy rain, are worth a closer look either way. Both rivers flooded to record levels in December 2015 and May 2017.

NFIP policies generally have a 30-day waiting period, so buy before the forecast. Your flood policy covers your building. Tenants need their own contents coverage.