In the event your property is damaged by storms, fire, theft, flooding, or acts of vandalism, landlord building insurance has your back. It covers the cost of repairs or even entire property replacement. 

Furthermore, if your tenants decide to leave unexpectedly or can’t pay their rent, your insurance policy can cover the rental income you would have otherwise lost during that period. This ensures continued cash flow despite sudden disruptions in your rental income. 

Landlord insurance also covers any legal costs arising from tenant disputes. And while every landlord hopes to never be in this kind of situation, having insurance gives comfort in knowing you have financial backing if necessary.