Specialty coverage
Steadily
Steadily sells landlord insurance for rental property, covering the structure, landlord liability, and lost rental income after a covered loss. Quotes are produced online in minutes, and policies are written for single-family homes, multi-family buildings, ADUs, condo units, and vacant or restoration properties, including short-term rentals listed on Airbnb and VRBO.
Coverage lines include fire and smoke, water damage with sewer backup available by endorsement, storm and hail, wind and hurricane, vandalism and burglary, riot and civil commotion, legal liability, and loss of rent. Buyers can take the full set or a narrower set for a lower premium. Every landlord policy carries $300K to $2M of liability, and coverage is written in all 50 states.
Steadily Insurance Company is an Arizona insurance company, NAIC 16963, and Steadily Insurance Agency, Inc. is licensed in all 50 states and Washington, DC, NPN 19627533; both are subsidiaries of Steadily, Inc. Agencies can be appointed to sell the product, and the company also works with lenders, marketplaces, and property managers as partners. Appointed agents write 1-4 unit dwellings as rentals, seasonal properties, and owner-occupied rentals, subject to the occupancy rules set out in the agent FAQ, such as a seasonal property not standing vacant more than 60 days.
The site also runs a resource library on landlord insurance, with a cost calculator, state landlord law pages, and explainer articles. Premiums vary by property, so treat the published cost material as general and get the quote for the specific address.
Best for
Rental property owners who want a landlord policy quoted and bound online rather than through a local agent, including owners of short-term rentals; also relevant to agencies seeking an appointment to write landlord business.
What they do
- Landlord insurance for long-term rentals
- Short-term rental (Airbnb and VRBO) property insurance
- Landlord liability coverage
- Loss of rent coverage
- Water damage and sewer backup endorsements
- Wind, hurricane, storm, and hail coverage
- Vacant and restoration property coverage
- Agency appointments and partner programs
Details
| Attribute | Value |
|---|---|
| Licenses | Steadily Insurance Company, Arizona insurance company, NAIC 16963, Steadily Insurance Agency, Inc., licensed in all 50 states and Washington, DC, NPN 19627533 |
What stands out
- Writes $300K to $2M of liability into every landlord policy, in all 50 states.
- Steadily Insurance Company is an Arizona insurer, NAIC 16963.
- Steadily Insurance Agency, Inc. is licensed in all 50 states and Washington, DC, NPN 19627533.
- Appointed agents can write 1-4 unit dwellings as rental, seasonal, or owner-occupied rental risks.
Common questions
- Does landlord insurance cover damage caused by tenants?
- Accidental tenant damage is typically covered, such as a kitchen fire, a broken window, or a burst pipe caused by a mistake. Intentional or malicious damage is sometimes covered as vandalism, depending on the carrier and whether the policy includes it. Normal wear and tear is never covered, and tenants' own belongings are never covered, which is why many landlords require renters insurance.
- What does landlord insurance not cover?
- The most consistently excluded items are flood, earthquake, intentional tenant damage, normal wear and tear, a property left vacant beyond a set window, tenant belongings, short-term rental business income, sewer backup, mold beyond limited triggers, pest infestations, certain dog breeds, and acts of war or nuclear events.
- How much does landlord insurance cost?
- Landlord policies usually cost about 25% more than homeowners policies, per the Insurance Information Institute, which put the average landlord premium at $1,478 against $1,192 for homeowners. Real pricing depends on the property: quotes gathered on one 3-unit Chicago rental ranged from $2,400 to $6,600 for the same coverage.
- Who actually needs landlord insurance?
- Anyone renting out a property that is not their primary residence, because a homeowners policy may leave the loss uncovered at a tenant-occupied home. A lender holding a mortgage on the property will usually require it. Owners with no loan who could rebuild, settle a lawsuit, and forgo rent out of pocket are the exception.