No matter if you manage hundreds of rental units or only a few individually owned single-family homes or apartment buildings, it’s important that you take time to explore the different options for landlord insurance in Cincinnati. 

Call the experts at 513-662-7000 to receive the best quotes on landlord insurance Cincinnati.

Keep in mind one very important aspect when you’re looking to obtain better insurance for your rental properties.

Purchasing cheap landlord insurance in Cincinnati can get you burned financially at claim time!

Uncovered Losses Can Cost You Tens of Thousands of Dollas!

When a rental property loss occurs and the subsequent claim is rejected, it’s often due to an exclusion of coverage. Every policy form contains exclusions and limitations of coverage plus terms and conditions that the individual policyholder must abide by.

Additionally do not assume that each DF-3, or special perils coverage form policy is identical to other companies DF-3 policy form. (READ YOUR INDIVIDUAL POLICY for your company’s specific exclusions, and terms and conditions.)

If you need the best landlord insurance in Cincinnati no matter if you own apartment buildings or single family rental unit contact us at 513-662-7000.

Let’s Review Typical DF-3 Policy Form Exclusions of Coverage for Landlord Insurance Cincinnati.

We do not cover loss resulting directly or indirectly by any of the following under any Section I – Property Protection coverages. Such loss is excluded regardless of any other cause or event contributing concurrently or in any sequence to the loss.

1. Enforcement of any ordinance or law regulating the construction, repair or demolition of a building or other structure, unless specifically provided under this policy. We do cover loss caused by actions of civil authorities to prevent the spread of a fire caused by a Peril We Insure Against.

2. Earthquake or other earth movement including loss caused by, contributed to or aggravated by landslide, mine subsidence, mudflow, earth sinking, rising or shifting.

3. Water damage, meaning:

a. flood, surface water, waves, tidal water or overflow of a body of water. We do not cover spray from any of these, whether or not driven by wind;

b. water or water-borne material which backs up through sewers or drains or which overflows or is discharged from a sump, sump pump or related equipment; or

c. water or water-borne material below the surface of the ground. This includes water which exerts pressure on or flows, seeps or leaks through any part of a building or other structure, sidewalk, driveway, foundation or swimming pool; caused by or resulting from human or animal forces or any act of nature. We do cover direct loss that follows, caused by fire or explosion.

4. Failure or interruption of power or other utility service which occurs away from the insured premises. We will pay for loss caused solely by a Peril We Insure Against that ensues at the insured premises.

5. Neglect of an insured to use all reasonable means to protect covered property at and after the time of loss, or when property is endangered by a covered loss under Section I – Property Protection.

6. War (declared or undeclared), civil war, insurrection, rebellion, revolution, warlike act by a military force or military personnel, destruction or seizure or use for a military purpose, and including any consequence of any of these. Discharge of a nuclear weapon will be deemed a warlike act even if accidental.

7. Nuclear action, meaning nuclear reaction, radiation, radioactive contamination or discharge of a nuclear weapon even if accidental, or any consequence of any of these. Loss caused by nuclear action is not considered loss by perils of Fire, Explosion or Smoke. Direct loss by fire resulting from nuclear action is covered.

8. Intentional acts, meaning loss resulting from an action by or at the direction of any insured, committed with the intent to cause a loss, or where the results of such action are reasonably foreseeable and cause a loss. Intentional acts include criminal acts. In the event of such loss, no insured is entitled to coverage, even an insured who did not commit or conspire to commit the act causing the loss.

9. a. Any actual or alleged failure, malfunction or inadequacy of:

(1) any of the following, whether belonging to any insured or to others;

(a) computer hardware, including microprocessors;

(b) computer application software;

(c) computer operating systems and related software;

(d) computer networks;

(e) microprocessors (computer chips) not part of any computer system;

(f) any other computerized or electronic equipment or components; or

(2) any other products, and any services, data or functions that directly or indirectly use or rely upon, in any manner, any of the items listed in 9. a. (1) (a) through 9. a. (1) (f) of this exclusion:

due to the inability to correctly recognize, process, distinguish, interpret or accept one or more dates or times.

b. Any advice, consultation, design, evaluation, inspection, installation, maintenance, repair, replacement or supervision provided or done by you or for you to determine, rectify or test for, any potential or actual problems described in 9. a. (1) (a) through (f), and 9. a. (2) of this exclusion.

If an excluded cause of loss as described in 9. a. (1) (a) through (f), and 9. a. (2) of this exclusion results in a Peril We Insure Against we will pay only for the loss or damage caused by the described peril.

We will not pay for repair, replacement or modification of any items, described in 9. a. (1) (a) through (f), and 9. a. (2) of this exclusion, to correct any deficiencies or change any features.

10. Fungi, wet or dry rot, or bacteria.

11. Damage to or loss of use of property resulting from the entire process of a volcanic eruption. This includes, but is not limited to, eruption of a volcano, earth movement resulting from the eruption process, or discharge, dispersal or accumulation of lava, rock, soot, ash or any other material from a volcano.

12. An intentionally set fire if the dwelling has been vacant for more than 30 consecutive days immediately preceding the loss. A building under construction is not considered vacant.

B. In addition to the Section I – Property Protection Exclusions A. 1. through A. 12. above that apply to all Section I coverages, we do not insure for loss to property described in Coverage A – Dwelling and Coverage B – Other Structures caused directly or indirectly by any of the following:

1. a. Wear and tear, marring, or scratching, deterioration;

b. Inherent vice, latent defect, mechanical breakdown;

c. Smog, rust or other corrosion;

d. Smoke from agricultural smudging or industrial operations;

e. Discharge, dispersal, seepage, migration, release or escape of pollutants unless the discharge, dispersal, seepage, migration, release or escape is itself caused by a Peril We Insure Against under Coverage C – Personal Property of this policy. Pollutants means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. Waste includes materials to be recycled, reconditioned or reclaimed;

f. Settling, shrinkage, bulging or expansion, including resultant cracking, of pavements, patios, foundations, walls, floors, roofs or ceilings;

g. Birds, vermin, rodents or insects;

h. Animals owned or kept by an insured;

i. Pressure from or presence of tree, shrub or plant roots;

j. Mismatch of color between undamaged material and new material used to replace faded, weathered or oxidized damaged material; or

k. Mismatch between undamaged material and new material used to repair or replace damaged material due to outdated, obsolete or discontinued products.

If water escapes from a plumbing, heating, air conditioning or automatic fire protection sprinkler system, water heater or household appliance because of any loss identified in exclusion B.1.a. through B.1.k., we cover loss caused by the water. We also cover the cost of tearing out and replacing any part of the covered building necessary to repair the system, water heater or household appliance. We do not cover loss to the system, water heater or household appliance from which the water escapes.

2. Theft in or from a dwelling under construction or of construction materials and supplies until completed and occupied.

3. Freezing, thawing, pressure or weight of water or ice, whether driven by wind or not, to a swimming pool, hot tub or spa, including their filtration and circulation systems, fence, pavement, patio, foundation, retaining wall, bulkhead, pier, wharf or dock.

4. Vandalism or malicious mischief, theft or attempted theft, or breakage of glass and safety glazing materials if the dwelling has been vacant for more than 30 consecutive days immediately preceding the loss. A building under construction is not considered vacant.

5. Freezing of a plumbing, heating, air conditioning or automatic fire protection sprinkler system, water heater, or household appliance, or by discharge, leakage or overflow from the system, water heater or household appliance caused by freezing while the dwelling is vacant, unoccupied or being constructed, unless you have used reasonable care to:

a. maintain heat in the building; or

b. shut off the water supply and drain the systems, water heater and household appliances of water.

6. Weather conditions, if they contribute to produce the loss in any way with a cause or event excluded under Section I – Property Protection Exclusions A. 1 through A. 12.

7. Acts or decisions, or the failure to act or decide, of any person, group, organization or governmental body.

8. Faulty, inadequate or defective:

a. planning, zoning, development, surveying, siting;

b. design, specifications, workmanship, repair, construction, renovation, remodeling, grading, compaction;

c. materials used in repair, construction, renovation or remodeling; or

d. maintenance; of parts or all of any property whether on or off the insured premises.

9. Collapse, other than as provided in Section I – Additional Coverages item 1.

10. Continuous or repeated seepage or leakage of water, steam or moisture, which occurs over a period of weeks, months or years from within a plumbing, heating, air conditioning or automatic fire protection sprinkler system, water heater or household appliance, and results in deterioration, corrosion, rust, or fungi.

11. Theft of property which is not actually part of any covered building or structure.

 12. Wind, hail, ice, snow or sleet to the following when outdoors:

a. radio, or television antennas or aerials, including their head-in wiring, masts or towers;

b. lawns, trees, shrubs or plants; or

c. awnings, canopies and signs.

13. Damage to fences, driveways and walks caused by vehicles owned or operated by you or an occupant of the insured premises.

Under Section I – Property Protection Exclusions B. 1. through B. 9, any ensuing loss to property described in Coverage A – Dwelling and Coverage B – Other Structures not excluded or excepted in this policy is covered.

The Best Landlord insurance in Cincinnati is available through Pathway Insurance!

Call us at 513-662-7000 and we can help you obtain the best coverage for landlord insurance in Cincinnati.

Need Cincinnati Landlord Insurance?

If you are a real estate investor call 513-662-7000 and we can help you secure the best Cincinnati landlord insurance coverage through our independent insurance agency.

The Special form for landlord coverage is the best policy that you can obtain for your rental properties in Cincinnati. Unlike DF-1 and DF-2 policy forms this policy form offers all risk coverage under coverage A and Coverage B except for losses excluded in Section I – Property Protection Exclusions.

To find a company offering cheap landlord insurance in Cincinnati click here.

If you recall the DF-1 and DF-2 policy forms only extend coverage for what is named in the policy.  If something happens to your rental and the peril is not listed in the policy you have no coverage available.

Keep in mind the DF-3 does not provide unlimited coverage for all situations. Exclusions, limitations of coverage and terms and conditions of coverage are listed, read the entire policy carefully.  Additionally do not assume that each DF-3 policy is identical to other companies DF-3 policy form. (READ YOUR INDIVIDUAL POLICY)  Click here to review typical coverage exclusions for the DF-3 policy form in Cincinnati.

Which Landlord Policy Is Best?

The DF-3 definitely provides the best coverage due to the fact that this coverage is the most comprehensive of the three policy forms, it’s also the most expensive.

There are also additional stipulations or conditions to obtain the DF-3 policy form.  You are required to insure your rental property to 80-100% of the replacement cost of the building.  This option may likely require you to insure your property for an amount much greater than what the market value dictates.  This is particularly true with older homes found in our area.

As is true with all insurance policies make sure that you check the terms, conditions, and exclusions.  Never assume that coverage is identical between company to company.   If you’re not sure which policy is best for your circumstances please feel free to contact us as we can help you choose a plan that will meet all of your individual needs.   

Additionally there is one other factor that you need to be cautious about, if your single-family residence for apartment building is vacant make sure that you purchase an Ohio vacant landlord insurance policy.  

Call Pathway Insurance to Find the Best Ohio Landlord Insurance

We specialize in helping landlords to secure the best coverage for their circumstances. To find an insurance company offering the best premium rates for rental insurance policies in Cincinnati Click here.   Or please call 513-662-7000.

Call 513-662-7000 or 800-998-0662 to speak with one of our Ohio Landlord Insurance representatives about your insurance needs for your investment properties Monday – Friday 9AM – 5:30PM (EST). 

We offer Landlord Insurance in Ohio, Kentucky, Michigan, Indiana, Tennessee, Minnesota, Georgia, Maryland, and Florida and through our agent referral network in the remaining states.

Or Click on Landlord Insurance Cincinnati to send us your request for quotes 7 days per week.

Cincinnati Landlord Insurance – What is Available?

Investment properties can include single-family rental units, or multi unit apartment buildings. You can request quotes 24/7 when you click:

• Ohio Landlord Insurance
• Michigan Landlord Insurance
• Landlord Insurance Minnesota
• Kentucky Landlord Insurance
• Landlord Insurance Indiana
• Landlord Insurance Tennessee
• Landlord Insurance Florida

If you own single-family or multi-unit rental real estate you cannot insure said property under a typical homeowner’s insurance policy. The reason why is very straightforward – Homeowners insurance policies are designed for owner occupied properties. 

In the event a standard home policy is purchased for a property  you do not maintain as your primary and principal residence the insurance company will likely refuse to pay any claims associated with that property, so it’s important you purchase the correct policy.

The most common policy type available for landlords with 4 rental units or less is the Dwelling Fire Policy. Agents will sometimes refer to such policies as landlord home policies, but they are not the same as a traditional home policy. 

If you own a building with more than 4 units a commercial property policy form will be necessary and we offer the best options for apartment buildings in Ohio.  If you own apartment buildings click on the below links to obtain additional information and quotes 7 days per week:

• Apartment Building Insurance Ohio
• Apartment Building Insurance Indiana
• Michigan Apartment Building Insurance
• Kentucky Apartment Building Insurance
• Apartment Building Insurance Tennessee
• Apartment Building Insurance Georgia
• Florida Apartment Building Insurance

Landlord Insurance Cincinnati – What are the Options?

The landlord policy is typically available in 3 different policy forms:

DF-1 Basic Form- Click here to see what typically is covered under the DF-1

DF-2 Broad Form- Click here to see what typically is covered under the DF-2

DF-3 Special Form- Click here to see what typically is covered under the DF-3

It Is Important for You to Understand the Benefits and or Limitations of Each Landlord Insurance Policy Form.

If you select a DF-1 policy for your rental because it’s the cheapest insurance option, and your roof collapses because of the weight of snow or ice there is no coverage under this policy form.  Or let’s assume a water pipe breaks and ensuing damage is caused, no coverage is available under the DF-1.  (Read what is covered under the DF-1)

Carefully select the policy that is best for your circumstances and budget.  The DF-1 is the least expensive but has the most limitations of coverage while the DF-3 policy offers all risk on your Coverage A (and replacement cost coverage in most cases) in comparison to the DF-1 which only covers 8 different perils. Check your individual policy for complete details. Vandalism or Malicious Mischief may not be automatically covered under the DF-1 with all insurance companies offering rental insurance policies in Cincinnati but may need to be added as an option.

Additionally the DF-1 policy form is settled on an actual cash value basis (ACV) meaning that a deduction for depreciation is taken into consideration when settling your claim.

What does a deduction for depreciation signify?  Generally it means the insurance company will determine the value of the property based on an estimated amount of the destroyed item at the time of loss.  For instance, if your insurance company considers the life expectancy of a roof to be 20 years and your roof is 10 years old at the time of a loss the insurance company will (in addition to your deductible) subtract 50% from the loss amount!

So if the cost to replace a roof is $8,000 the insurance company subtracts $4,000 because of depreciation and then subtracts your deductible from that figure. (Ouch)

A replacement cost loss settlement only subtracts the deductible.  So as you can see replacement cost is a superior option, but the cost is more for this coverage so you should choose your coverage wisely to fit your budget and your circumstances. 

To Find an Insurance Company Offering the Best Price on Ohio Landlord Insurance Call 513-662-7000 or Click Ohio Landlord Insurance.