What to Know About Landlord Insurance in Pennsylvania

Laura Olson
Sep 6, 2022

No one wants to think about something going wrong with their rental property, but it's important to be prepared. That's where landlord insurance comes in. This type of insurance can help protect you from a variety of unfortunate events, such as damage to your property or liability claims from tenants.

If you're a landlord in Pennsylvania, here are some things you need to know about this essential coverage.

What Landlords Should Know About Insurance in Pennsylvania

Whether you are a seasoned investor or have just dipped your toe into the game, owning real estate requires you to be aware of things that could affect your investment and rental income.

Here are some of the things landlords should know about insurance in the state.

Risks covered

There are numerous landlord insurance coverages in Pennsylvania, where the risks covered depend on the policy and the insurance company. A policy could cover either or all of these risks:

Property coverage

Property coverage may also extend to detached or secondary structures on your property, like the garage, shed, and fences. Additionally, some coverages might include the landlord's personal property used in the service of the property, such as furniture, appliances, or landscaping equipment. This is the most basic insurance coverage for any landlord. Covered claims may include damages to the physical structure of your property caused by fire, hailstorms, windstorms, lightning, smoke, snow, ice, and other natural disasters.

Liability coverage

Liability coverage protects a landlord from claims made by a tenant, a tenant's guest, or an uninsured handyman or contractor. If you're sued by a tenant for property damage or injury caused by a covered event, your landlord insurance policy can help pay for your legal defense costs and judgments.

Loss of rental income

Loss of rental income reimburses you if your dwelling becomes uninhabitable due to property damage from the covered risks. However, loss of rental income coverage isn't always included in a landlord insurance policy, so it's a good idea to double-check with your insurance agent or consult your policy documents.

Negligence Law in Pennsylvania

Liability insurance is not mandatory for landlords in the state. However, the hefty financial burden one incurs when liable for negligence makes it a critical feature of any policy.  

For instance, landlords in Pennsylvania are required by law to provide an environment that's reasonably safe for their tenants, guests, and other third-party personnel, like utility workers. An injured party can sue the landlord for negligence for failing to do so.  

You could face liability charges if someone falls in a common area and is injured on your property due to negligence. Perhaps, your tenant, a guest, or a utility worker falls due to a neglected renovation. If you are liable, you will have to pay their medical bills, legal fees, and other costs.  

Second, this state's law allows landlords to be held accountable for criminal activities on the property. This applies when the landlord either:  

  • Fails to notify the tenant about known criminal activities in the area or on the property, or
  • Makes it easier for criminal activity to happen. This could be through failing to have the right security features on the property, like providing reliable locks.  

In addition, there are cases where this liability coverage comes in handy. For example, you could be held liable for lack of regular maintenance, lack of control of the property, and mold exposure. Some insurers in Pennsylvania with this coverage also protect you against non-injury claims, like libel, slander, wrongful entry, or wrongful eviction.

Flood Insurance

Flood insurance is rarely included in landlord insurance policies. However, when necessary, it can be included as an add-on or rider to your main landlord insurance policy or purchased as a separate policy. And, if you have a rental property in Pennsylvania, this coverage may become a necessity. The state has a high risk of natural disasters like flooding, dam & water threats, tropical storms, thunderstorms, and tornadoes.  

This coverage helps to protect you from any losses you might incur when a flood damages your property's primary structure, additional structure, and personal landlord contents provided for the property. During a claim, the insurer usually reimburses you the cash for rebuilding or repairing the damages, up to your policy limit.

Landlord Insurance Rates in Pennsylvania

Landlord insurance premiums in Pennsylvania can vary significantly depending on factors such as the location of the property, age and condition of the home, the annual deductible, and coverage offered. For example, DP1 is a lower-priced basic policy that covers specified risks, while DP3 provides the most comprehensive coverage, albeit at a higher price point.

As a landlord in Pennsylvania, it's important to know about the different types of insurance available to you. Rates for landlord insurance can vary depending on the insurer, so it's important to compare quotes before choosing a policy. By shopping around, you can find the best coverage for your rental property at the most affordable price.

How to Find the Best Landlord Insurance Policy for Your Needs in Pennsylvania

There are a few key things you'll want to keep in mind when shopping for landlord insurance in Pennsylvania.

First, make sure that the policy covers the replacement value of your property in case of damage. Secondly, ensure that loss of rent is covered in the event that tenants can't occupy the property due to a covered event.

It's also important to consider legal liability coverage in the event that someone is injured on your property. Finally, take deductibles and policy limits into account to make sure that the policy meets your needs.

Perhaps the biggest question is, how do you choose between so many alternatives if you don't know which policy is best for you?

One way to find landlord insurance is through an insurance agent. Keep in mind that not all agents are the same regarding what they offer and how many coverage options they have. It's beneficial to research different agents before selecting one to ensure you're getting the best possible service. Some may only work with a limited number of coverage options or represent only one insurance carrier, which could restrict your choices for landlord insurance.

Another option is to use an online insurance broker like Obie.

There's no need to spend hours shopping around for landlord insurance in Pennsylvania because Obie has you covered. With instant quotes and the ability to purchase a policy online in all 50 states, it's easy to get the coverage you need and protect your investment. On top of that, you can save an average of 25% when you get your property insurance through Obie.

Working with an online insurance broker like Obie can be a smart move because Obie was purpose built specifically for landlords and real estate investors.

It all comes down to personal preference when choosing which type of insurance agent to work with. Some landlords might prefer the convenience and flexibility that come with working with an insurance broker. Others might prefer working with a captive agent. Ultimately, it's up to the landlord to decide what works best for them.

Whatever your preference, it's important to compare quotes from multiple carriers and read customer testimonials to find the best possible coverage at the most affordable price. By taking the time to do your research, you can be sure that you're getting the protection you need at a price that fits your budget.

What Obie Customers are Saying

Before making a decision on purchasing landlord insurance, it can be helpful to read what current customers of the company have to say. When it comes to insuring a property rental in Pennsylvania, it's worth taking a look at what Obie customers have to say:

"This was a great experience. I was contacted immediately, and Nick was great and very responsive!" - Stephanie A.

"Love Obie! Was able to get a speedy insurance policy that was priced better than quotes from other companies. Would recommend." - T. Baker

“What an easy and professional experience! I worked with Doug Bell. He was amazing. Great rate! Fast response!” – Esther L.

Get an Instant Quote from Obie Today

If you own a rental property in Pennsylvania, you are probably aware of how crucial it is to have insurance. However, with so many possibilities available, selecting the appropriate policy at a fair price may be difficult.

That's where Obie comes in. Obie specializes in providing insurance for landlords and real estate investors. There are no paper applications, lengthy waiting periods for quotations, or back-and-forths with brokers.

So what are you waiting for? Get an instant quote for landlord insurance from Obie today.