Insurance for Real Estate Investors in Florida

As a real estate investor, you need to safeguard your finances and assets from the potential of damage or liability. In Florida, investing in an insurance policy is essential for protection against unanticipated circumstances that may impact your properties—including rental properties, vacant land, and those undergoing construction and renovation.

Real estate investors' insurance is a unique type of insurance created to protect your investment properties from potential catastrophes such as floods, fire and theft. It also provides you with additional liability coverage for any claims arising from the ownership or operation of these properties. You can select the best options and limits that fit both your budget and portfolio needs depending on what works best for you.

Bellken Insurance Advisors has made a name for itself as one of Florida's top real estate investor insurance providers. Our experienced agents are dedicated to finding you the most comprehensive and cost-effective commercial insurance policy that meets your unique needs. We understand the importance of protecting your investments and will work tirelessly to ensure you have the coverage you need should an unfortunate incident arise. 

Contact us today for a free quote and to learn more about the insurance policies we offer. We look forward to hearing from you!

The types of insurance policies that real estate investors need vary based on their individual investments and needs, but some common policies include:

Property Insurance 

Protect your investment properties in Florida from the damages caused by hurricanes, floods and other disasters with insurance specifically designed for real estate investors.

With various coverage options offered to suit different property types—single-family homes, duplexes, triplexes, quadplexes, condos townhomes or apartment buildings—property insurance can even protect you against liability claims brought about by tenants or third parties.

Florida property insurance comes in various forms including:

Dwelling coverage: Covers the fundamental building blocks of your abode, including your roof, walls, windows, doors, flooring, plumbing fixtures and systems, electrical wiring and appliances.

Other structures coverage: Protects the structures on your property that are not attached to the main structure, such as a storage shed or detached garage.

Loss of rents coverage: This form of protection ensures that you are financially secure in the event your home is rendered unlivable due to a covered hazard, such as windstorm, vandalism, or fire.

Liability coverage: Protects your investment property from lawsuits brought by third parties arising out of accidents on the property.

Flood coverage: Covers the damage caused by flooding, which is not covered by standard property insurance policies. You may need to purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP) or a private insurer.

Windstorm coverage: Secures property from the destruction of windstorms, such as hurricanes or tornadoes. Property insurance policies in Florida may not offer coverage against these disasters, so consider purchasing a separate policy or endorsement for extra protection against windstorm-related damage.

Property insurance for Florida real estate investors can help you protect your valuable assets and income from unforeseen events. Choosing the right policy and insurer lets you enjoy peace of mind and focus on growing your real estate business.

General Liability Insurance 

General liability insurance is an important policy in case of a claim or lawsuit arising out of business activities. This type of insurance covers property damage, bodily injury, and advertising injuries caused by your business’ operations.

General liability insurance can provide coverage for:

Injuries to customers or third parties while they are on your property

Lawsuits alleging negligence, product liability, copyright infringement or defamation

Property damage caused by your business operations

Real estate investors should also consider general liability insurance if they own rental properties. This type of coverage is especially important if you are managing short-term rentals as it can help cover the costs associated with a third party's injury, or if you are accused of alleged negligence or discrimination.

Workers’ Compensation Insurance

Florida law requires all employers to have workers’ compensation insurance if they have four or more full-time, part-time or temporary employees.

This type of insurance covers claims related to work-related injuries, illnesses or death resulting from job duties. It helps employers pay for medical expenses and wage replacement costs for employees who become injured or ill on the job. Workers’ compensation insurance also helps protect employers from lawsuits brought by injured or ill employees.

Real estate investors should consider this type of insurance if they have hired employees to manage their investments. It is important for employers in Florida to abide by the law and ensure they have this type of coverage in place.

Landlord Insurance 

Landlord insurance is a specialized policy designed to protect rental property owners from losses related to their rental properties. This type of coverage provides protection from risks such as property damage, tenant defaults, and liability claims.

Landlord insurance is especially important for real estate investors who own rental properties. This type of coverage can help cover costs related to repairing and replacing damaged property, eviction fees, damage caused by tenants, legal fees, and other expenses.

Another important benefit of landlord insurance is that it can provide coverage for lost rent if tenants default or vacate the rental. This type of coverage can help protect you from the financial losses associated with tenant defaults or vacancies.

Builder's Risk Insurance

Are you planning a major renovation or construction project? Builder’s risk insurance is an important policy to consider. This type of insurance provides protection for contractors and property owners from losses associated with a construction project.

Builder's risk insurance can cover costs related to the building materials and labor used on the construction project and damage caused by natural disasters such as fires, floods and windstorms. This type of coverage can also help cover expenses associated with theft and vandalism.

Real estate investors should consider builder’s risk insurance if they are planning to undertake a major renovation or construction project. This type of coverage can provide peace of mind and help protect you from the financial losses associated with a construction project.

Hazard and Fire Insurance

While most standard homeowners’ insurance policies provide coverage for basic hazards such as fire and theft, real estate investors should consider adding a hazard and fire insurance policy to their portfolio. This type of insurance provides additional coverage for losses caused by perils such as fire, lightning, smoke and vandalism.

Hazard and fire insurance can help cover repairs or replacements of damaged property and lost income due to business interruptions caused by a covered peril. Hazard and fire insurance can also help provide coverage for additional living expenses if you are forced to relocate due to a covered loss temporarily.

Umbrella Insurance

Umbrella insurance is additional coverage that protects you from liability claims. This policy can protect legal expenses related to third-party claims, such as bodily injury or property damage. Umbrella insurance can also provide coverage for certain types of libel, slander and defamation lawsuits.

Real estate investors should consider an umbrella insurance policy if they are renting out their properties. This type of coverage can provide protection from liability claims brought by tenants or other third parties. Furthermore, an umbrella policy can provide additional coverage if you are ever sued for more than the limits of your existing insurance policies.

Each type of real estate insurance policy is priced differently and depends on a variety of factors such as the amount of coverage needed, the size and location of the property, and the type of policy purchased. Generally, real estate insurance costs vary from $0.03 to $0.95 per every hundred dollars of insured value.



That said, you can take some steps to lower your real estate insurance costs in Florida.

1. Research and compare insurance policies - Don't just settle for the first quote you get, shop around to find the best deal.
2. Raise your deductible - Increasing your deductible can reduce your coverage premium.
3. Bundle policies – Combining different types of insurance, such as homeowners and renters’ insurance, into one policy can help you save.
4. Take advantage of discounts – Many insurance companies offer discounts for things like smoke detectors, alarm systems, and improvements to your home.
5. Look for loyalty discounts – If you have been a customer of an insurance provider for a certain number of years, you may be eligible for discounts.
6. Implement risk reduction measures – Taking steps to reduce the risks associated with your property, such as installing smoke detectors or security systems, can help you get discounts on your premiums.
7. Maintain a good credit score – Many insurance companies use credit scores to assess risk and determine premiums, so maintaining good credit can help you save.

The best way to find the right real estate insurance policy in Florida is to work with an experienced and knowledgeable agent who can provide you with the coverage you need at the best possible rate.

At Bellken Insurance Advisors, we are committed to helping you find the perfect real estate insurance policy for your specific needs. Our team of independent agents have access to many different providers, allowing them to compare quotes in order to get you the best deal possible.

If you are looking for real estate insurance in Florida, contact us today and let our experienced agents find the right coverage for you. We look forward to helping you save money and protect your assets.