Hand over the keys to your rental property with confidence: we’ll make sure you’re properly covered.
What is revenue property insurance?
Your revenue property insurance is a large investment. When you insure the property, you protect that investment while you protect yourself from financial losses and liabilities associated with the property.
Why do you need it?
As a revenue property owner, you are required to purchase your own rental property or rented-dwelling insurance. Butler Byers has access to plans from many reputable companies. With multiple markets for us to choose from, we’re sure to get you the best plan and rate for your needs.
What is covered with income property insurance?
Protection against damage to the structure of the revenue property, including fixtures, plumbing, and heating due to a covered loss, such as fire or hail damage.
Coverage for detached structures (garages, garden sheds) and fixtures attached to land (driveways, sidewalks, patios, fences, and swimming pools).
Loss of use
A safety net for additional expenses and lost rental income while the dwelling is unable to be lived in.
Liability of others
Covers you against lawsuits for bodily injury or property damage that you — and, in some cases, pets — may cause to other people.
Other coverage options may also be included and are not limited to what has been indicated.
Frequently Asked Questions
How much insurance do I need?
That’s where we come in. We will gather information to determine the best coverage for your property.
Do my renters need their own insurance, or are they covered through mine?
Renters need their own insurance to protect against loss of damage of their personal belongings. For details on what’s covered, speak with your Butler Byers Account Manager.
Will my insurance cover loss of rental income?
If a renter is unable to pay rent, your cash flow is directly affected, and you may need to pay for legal assistance to collect the amount owed. Your Account Manager can explain your coverage options should this situation arise.
Can I extend my policy?
Yes. There are, there are many ways to extend your policy. For instance, it would be wise to extend your policy if you keep equipment (mowers, snow blowers, tools for repairs) at your income property. Speak with your Account Manager to make sure you have all the coverage you need.
Let’s get started
Complete the online quote form and we’ll follow up within one business day.
What you’ll need:
- Listing and/or home inspection (if possible)
- Previous insurance information
- Your Lender’s information
- Void cheque/banking letter (if interested in a monthly payment plan)