Insurance Tips for Landlords in Texas

Jun 16, 2016 (0) comment

One of the biggest trends I have seen in the insurance world lately is the growing trend of clients who own rental properties. The recent slump in the real estate market has led to clients gobbling up additonal homes to put on the market as rental properties. As people find themselves as new landlords it has led to many mistakes when it comes to insuring them properly.

Lets use the following scenario. One of our clients who is insured with Travelers Insurance in Mckinney Texas buys a new home to put up for rent in Plano Texas.

Here are some common assumptions when dealing with buying insurance for rental homes in Texas.

1. I just need to buy Home Owners Insurance Policy right?


Most clients assume that if they have a Home owners insurance policy in Mckinney Texas, and they buy a rental property in Plano Texas.. they just need to get another Home Owners insurance policy in Plano Tx.. right? Clients assume that a home owners insurance policy will properly cover their new rental home.

The quick answer is nope.

In Texas one must buy a specific insurance policy for a rental home. It is often called a Dwelling Fire Policy. So the correct answer is to ask your agent for a dwelling fire policy.

2. Insurance for rental homes in Texas is cheaper…right?


Most clients wrongly assume that insurance for a rental home in Texas would be cheaper then Home Owners Insurance in Texas. Rental homes run policies are almost always more expensive then homeowners policies in the Dallas, Plano, Mckinney area.

Why ? In most cases insurance companies see them as a higher risk then regular home owners insurance policies. I know.. that stinks.

3. I just need a cheap policy ..right?

Uhhhmm.. once again the answer is no. In Texas most insurance home owners policies offer significant coverage for your home. Dwelling fire policies can cover a little or alot. Be sure to understand what your dwelling fire insurance policy covers.

So whether you are buying a home owner insurance policy in Mckinney or a dwelling fire insurance policy in Plano.. be sure to understand the difference.

Home owners insurance in Texas covers YOUR home.

Dwelling Fire insurance in Texas covers your RENTAL home.

If you have questions regarding your home insurance, auto insurance, business insurance in the Mckinney, Plano, Dallas Texas area… please feel free to give us a call.

Mauceri Bynum Insurance Agency

400 N Central Expwy

Mckinney TX 75070


or get an instant quote at

Comment (0)

Leave a Comments

Sign up for our newsletter for tips and other helpful information

Get Free Insurance Quote