Let's be honest right up front. The real estate game isn't an easy one, but it is a great field to be in. If you can secure a solid property that is undervalued, you have already done the work. Filling it with the right tenants can be a bit of a search, but as soon as you have them then you can kick back and never worry about another problem again, right?
If you happen to be a land lord in the real world you already know how untrue that can be. The people you rent to can sometimes be the most pure souls you've ever seen when you go to rent to them, but when it comes to the inspection time, you suddenly find there was a lot more behind the scenes that you never knew about. From extra kids and family members to pets, smoking and parties, there are more than enough potential liabilities than you can imagine.
The worst part is if you are a small operation then you probably have never imagined that half of the things that did happen or will happen could actually happen. Regardless of how innocent you think your tennants are, you could still be on the hook if they do something dumb. And, even if you won't be responsible in the long run, how are you going to run your business and move on with your life if you are tied up in court for a case of liability or even negligence? You have to be sure you have the right type of landlord insurance on your side to be covered.
The best landlord insurance won't just help to cover your property and any of your contents, but it could also cover the business income in case your building is unlivable after a claim occurs. Furthermore, you can craft a policy that also gives you full liability coverage in the event you are caught in a lawsuit, as well as legal costs so you will be defended by an insurance company. The best benefit is that with the right policy you won't ever have to worry about any tenants potentially destroying your business. As long as you are covered, you can have the piece of mind you truly need to get on with your business and not worry about the hypotheticals.