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Raley, Watts & O’Neill Insurance

Since 1950, Raley, Watts & O’Neill has been serving the insurance needs of our clients. We started as a one person operation in Lexington Park, MD and are proud of our small town heritage. We have worked hard to maintain the fundamental principles of our roots while we have grown into a company that serves clients throughout the Mid-Atlantic, the United States and Internationally. We pride ourselves on getting it right and taking care of the needs of our clients. We simplify the insurance process and take the time to make sure each of our clients understand their options, what they are buying and where their money goes. Our committed staff has the expertise and extensive experience in a broad range of insurance products and services like Commercial, Personal, Bonding, Safety/Risk Management, Group Health, Life and Financial Services. We would welcome the opportunity to demonstrate to you how working with Raley, Watts & O’Neill is about more than just insurance; it is about a long term relationship. We always strive to never veer from our values – C.A.R.E

Landlord Insurance, Anyone?

Gordon O’Neill Gordon O’Neill , 4/27/2016
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If you rent all or part of your property to others, it makes sense to buy this special type of Homeowners insurance. A Landlord insurance policy will cover damage to the building and your belongings, and protect you against potentially catastrophic legal and medical cost suits from lawsuits by people injured on your property.

If the property is mortgaged, the lender will usually require that you buy enough coverage to pay off the outstanding loan balance.

Above this level, you can tailor your Landlord coverage to your needs and budget in a number of ways:

  1. Changing the deductible (which usually ranges from $100 to 5% of the building coverage).
  2. Selecting the type of losses covered, by buying either "comprehensive" coverage - which pays for losses from all causes, unless specifically excluded - or on a "named perils" basis, which covers only losses from a listed number of causes.
  3. Choosing the type of reimbursement - either "actual cash value" (the value of your property, less depreciation) or the more expensive "replacement value."
  4. Adding coverage to provide reimbursement for loss of rental income during a period when the property is uninhabitable.
  5. Covering increased liability risks from dealing with tenants, such as legal fees, libel, slander, and discrimination claims.

In making your decision, assess the benefits of potential premium savings against the risk of paying for hefty classes.

Our Homeowners' Insurance specialists will be happy to evaluate your situation and recommend a comprehensive, cost effective solution. Just get in touch with us at any time.