Standard landlord insurance policies do not cover normal property wear and tear, gradual deterioration, structural damage caused by tenant neglect, or mechanical breakdowns of building appliances resulting from age rather than sudden accidents. Furthermore, standard policies universally exclude damage caused by earthquakes, floods, or mold growth stemming from unaddressed maintenance issues. While specialized landlord policies can cover tenant rent default or malicious property destruction, baseline insurance will strictly refuse to pay for structural repairs if the landlord failed to properly maintain the property or allowed known hazards to go unfixed over long periods.
1 votes
Marked as accepted