▮ Landlord insurance
Landlord Insurance in Ocala, FL
Short answer: Landlord insurance, often written as a dwelling fire policy, protects a home or small building you rent to others. It can cover the building, other structures, lost rent after a covered loss and your liability as the owner. A regular homeowners policy usually isn't built for a rental. The Ritz Agency helps rental owners in Ocala and Marion County compare dwelling policy options and pair them with umbrella coverage for extra liability protection.
Rent out a home? Tap Home and we'll take it from there.
▮ Why us
The short version.
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▮ Who it's for
Who landlord insurance is for
Long-term rentals.
Owners who rent out a single-family home, duplex, townhome or condo unit on a long-term lease.
Moved, kept the house.
Homeowners who moved and kept their old house as a rental.
Investors.
Investors with one or several rental properties around Ocala and Marion County.
Seasonal / part-year.
Seasonal or second-home owners who rent the property part of the year. Tell us how the home is used, because short-term rentals may need different coverage.
▮ What it covers
What landlord insurance can cover
Dwelling.
The rental building itself and attached structures, for covered causes of loss such as fire or windstorm, up to your limit.
Other structures.
Detached garages, sheds and fences on the property.
Loss of rents.
Fair rental value — rent you would have collected while a covered loss is being repaired and the home can't be rented. Tied to physical damage, not a tenant who stops paying.
Landlord liability.
Protection if a tenant or visitor is hurt on the property and you're found legally responsible, including legal defense costs, up to your limit. On many dwelling policies, liability is added by endorsement, so we check that it's there.
Your property at the rental.
Items you own and leave for tenants, like appliances or lawn equipment, may be covered if you choose that coverage.
Coverage varies from policy to policy. We'll walk you through the exclusions, limits and deductibles so you know what you're buying.
▮ Forms
Dwelling fire forms, explained simply
Rental homes are often insured on a dwelling form instead of a homeowners form. The Florida Department of Financial Services says a dwelling form may be used for an older home, a home that is rented to others, or for other underwriting reasons. In general terms:
DP-1 (basic form).
Covers the building only for the perils named in the policy, and losses are often settled at actual cash value, which means depreciation is taken out.
DP-3 (special form).
Generally covers the building for all causes of loss except those the policy excludes, and is often written on a replacement cost basis.
Which form is available depends on the home and the carrier. We'll compare the actual policy wording with you rather than guess.
▮ Local
Landlord insurance in Ocala and Marion County
Rental owners in Marion County have everything from houses in Ocala and Belleview to duplexes in Summerfield, homes near the Rainbow River in Dunnellon and villas around Lady Lake and The Villages. Our office is on E Silver Springs Blvd in Ocala, so you can sit down with us, bring your lease and your current declarations page, and go through each rental one at a time.
Two things come up with almost every Central Florida landlord: hurricane deductibles and flood. Wind is a common covered peril on dwelling policies, usually with a separate hurricane deductible, and rising water usually isn't covered at all. Our Florida hurricane insurance guide explains how storm coverage fits together.
▮ Florida, specifically
Florida details worth knowing
Hurricane deductible options.
Section 627.701, Florida Statutes, requires insurers writing personal lines residential property policies to offer hurricane deductibles of $500, 2%, 5% and 10% of the dwelling limit, with some exceptions based on the dwelling limit. The policy must state the separate hurricane deductible on its face, and the dollar amount must appear on the declarations page.
Once per calendar year.
Under the same statute, the hurricane deductible on a personal lines residential policy applies on an annual basis to covered hurricane losses in a calendar year under policies from the same insurer or insurer group.
Flood is separate.
The Florida Department of Financial Services says flood damage is not covered by a homeowners policy and a flood policy must be purchased if you need flood coverage. The Florida Office of Insurance Regulation says flood coverage can be written through the National Flood Insurance Program or private insurers, and that some policies take time to take effect.
Sinkholes.
Section 627.706, Florida Statutes, requires property insurers to cover catastrophic ground cover collapse and to make sinkhole loss coverage available for an additional premium. The two aren't the same, so ask us which one your policy includes.
Claim deadlines.
The Florida Department of Financial Services notes that initial and reopened property claims must be reported within 1 year after the date of loss, and supplemental claims within 18 months.
Sources: Section 627.701, Florida Statutes; Section 627.706, Florida Statutes; Florida DFS: Homeowners Insurance Overview; FLOIR: Flood Insurance.
▮ How it works
How to get started
Checkpoint 01
Gather the address, approximate age of the roof and major systems, and your current declarations page for each rental.
Checkpoint 02
Note how each property is rented: long-term lease, seasonal or short-term.
Finish
Call us or request a quote. We'll review your options with you, including umbrella and flood.
▮ Neighbors
5.0 from Ocala.
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▮ Meet the team
The people who pick up the phone.
Not a call queue. A licensed team in one Ocala office.
▮ Questions
Frequently asked questions
Can I use my homeowners policy on a house I rent out?
Usually not. A homeowners policy is generally written for a home you live in. The Florida Department of Financial Services notes that a dwelling form may be used instead of a homeowners form for a home that is rented to others. If you've moved out and started renting your house, tell us so the policy matches how the home is used.
What's the difference between a DP-1 and a DP-3 policy?
In general terms, a DP-1 (basic form) covers the building only for the specific perils listed in the policy, and losses are often settled at actual cash value. A DP-3 (special form) generally covers the building for all causes of loss except those the policy excludes, and is often written on a replacement cost basis. Every policy is different, so we compare the actual wording with you.
Does landlord insurance cover lost rent?
Many dwelling policies offer fair rental value, often called loss of rents. It can help replace rent you would have collected while the property is being repaired after a covered loss. It generally doesn't pay when a tenant simply stops paying rent. Limits and time periods vary by policy.
Does a landlord policy cover my tenant's belongings?
No. A landlord policy is written to protect your building and your interests, not your tenant's furniture or clothes. Many landlords ask tenants to carry their own renters insurance, which covers the tenant's belongings and personal liability.
How do hurricane deductibles work on a Florida rental?
Under section 627.701, Florida Statutes, insurers writing personal lines residential property policies must offer hurricane deductible options (generally $500, 2%, 5% and 10% of the dwelling limit, with some exceptions based on the dwelling limit). The hurricane deductible applies once per calendar year to covered hurricane losses under policies from the same insurer or insurer group, and the dollar amount must be shown on the declarations page. We'll help you read yours.
Is flood damage covered?
Not by a standard dwelling or homeowners policy. The Florida Department of Financial Services says flood damage is not covered by a homeowners policy and that you must buy a flood policy if you need flood coverage. The Florida Office of Insurance Regulation adds that some flood policies take time to take effect, so plan well before a storm.
Should a landlord have an umbrella policy?
It's worth a conversation. Owning rental property adds exposure to liability claims from tenants and their guests. A personal umbrella policy can add extra liability limits above your landlord, home and auto policies, subject to its terms. We often review landlord and umbrella coverage together.
Do you insure rentals outside Ocala?
We focus on Ocala, Marion County and nearby towns, including The Villages, Belleview, Dunnellon, Summerfield and Lady Lake. Eligibility depends on your property and the carrier. We'll review your options with you.
▮ Get in touch
Talk with us
Call (352) 512-6334 Monday through Friday, 8 AM to 5 PM, or request a quote online. You can also stop by our office at 1107 E Silver Springs Blvd, Ste 1, Ocala, FL 34470.
We're an Allstate agency that also places business with 20+ other Allstate-vetted carriers. Eligibility depends on your property (or vehicle) and the carrier. We'll review your options with you.
▮ More coverage
Related coverage
- Home insurance in Ocala
- Renters insurance (for your tenants)
- Condo insurance (for condo unit owners)
- Umbrella insurance (extra liability above your rentals)
- Car insurance in Ocala
- Hurricane insurance in Florida
- Flood insurance in Ocala & Marion County
- Golf cart and LSV insurance
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