Vacant and Landlord Condo Insurance FAQ

Have questions about vacant insurance? We have answers!

If you have a loan, your mortgage lender will likely require you to carry insurance. Many associations also require owners to buy an insurance policy. Even if it’s not required, however, you should consider insurance since you run the risk of suffering severe financial setback if something happens to the home. You will likely spend money for repairs as well as lose your rental income during that time your condo is not livable.
Under the Foremost® landlord insurance policies, your tenants’ personal belongings would not be covered. They must have their own renters insurance policy if they want to cover their personal belongings to be covered.
Landlord insurance tends to cost a bit more than homeowners insurance. Reasons for this include the additional coverage for income loss when rent can’t be paid, as well as liability coverage if a tenant or their guest makes a liability claim. Foremost insurance offers a number of discounts with our landlord and vacant condo policies to help lower your costs.

Vacant and Landlord Condo Coverages

A vacant and landlord condominium policy has the same coverage options as our policy for owner-occupied condos. In addition, condo insurance for landlords offers:

Optional Loss of Rents Coverage

This applies to the income you’ll miss out on if an insured loss makes your condo unfit for a renter to use or live in.

Policy Package Options

Choose from three options: the Foremost landlord package, the Foremost landlord platinum package, or customize your own policy by selecting coverages and endorsements.

Ease of Use

If you have a condo that’s vacant between tenants, no problem! With a Foremost policy, you can easily switch a policy between vacant and rental usage types in most states. No need to cancel and rewrite every time your home is temporarily unoccupied.

Vacant Home Insurance Discounts

Here are just a few of the ways your can save money by choosing Foremost:

Platinum Package

Get up to 20% off when you choose this package.

Landlord Association

Save money when you belong to a landlord association.

Age of Home

Discounts for landlords who screen their tenants.

Get a quote for vacant and landlord insurance through an independent agent