Lafayette, LA is known for its welcoming neighborhoods that attract renters year-round. Areas like River Ranch, Freetown-Port Rico, and the Saint Streets are popular for their convenient locations, local amenities, and strong sense of community. Whether you own a property near downtown or close to the University of Louisiana at Lafayette, being a landlord in this city offers great opportunities—but also comes with potential risks.
Rental Property Coverage: Your First Line of Defense
Landlord insurance, often referred to as rental property coverage, is essential for protecting your investment. It typically includes coverage for the physical structure of your property, loss of rental income due to covered damages, and liability for injuries that occur on the premises. However, standard policies have coverage limits, and larger claims or lawsuits can quickly exceed them.
Why Umbrella Insurance Is a Must-Have
Umbrella insurance provides an additional layer of liability protection that activates when your rental property coverage reaches its limit. For example, if a tenant in River Ranch sues you for medical expenses after slipping on a wet driveway, and the claim surpasses your landlord insurance coverage, umbrella insurance can cover the remaining costs. This extra protection ensures your personal assets are not at risk.
Leauxcal Insurance Agency helps landlords in Lafayette, LA pair umbrella insurance with their rental property policies. With this combination, you can confidently manage properties in popular neighborhoods without worrying about unexpected liability claims.
Secure Your Investment Today
Owning rental property in Lafayette is a smart investment, but it’s important to protect yourself from liability risks. Contact Leauxcal Insurance Agency today to learn more about umbrella insurance and how it can enhance your rental property coverage in Lafayette, LA.
