Tennessee is a well-known tourist destination. Famous cities such as Nashville and Gatlinburg see millions of visitors each year. Because of this, there are an abundance of rental properties available for short or long-term visitors. The most current United States census identified over 650,000 renter-occupied properties, which accounts for 30 percent of all housing units in the state. Any investment property owners who rent out their space can safeguard their assets with Tennessee rental property insurance.
Regular homeowners insurance may not cover claims for damages incurred during the renters’ occupation of the property. While property owners are not responsible for any of the renters’ personal belongings, they are accountable for the structural integrity of any building on the property as well as all personal possessions such as appliances or carpeting. Rental property insurance can provide the proper coverage for any property and assets as well as protecting against expensive bills from any injuries or crimes that may occur on the premises.
When choosing an insurance company for Tennessee rental property insurance, it can be helpful to look at local companies that know the specific risks associated with the area. They are sometimes able to offer lower premiums and better coverage and can be more readily available to their clients.
Let your investment property be an asset instead of a liability by getting rental property insurance. It can save you money and give you peace of mind. It can also make your property a safer and more enjoyable place for renters to stay.