Landlord Insurance in Washington, DC: A Broker’s Guide

May 13, 2024 / Distinguished

Property owners recognize the financial benefits of renting out properties they own. This is especially true for people who own property in highly sought-after cities like Washington, DC — considered to be one of the best for renters in 2024 by Forbes. 

While renting out a property can provide additional income, it also introduces certain risks to the units your clients own. Landlord insurance is designed to safeguard property owners against these risks, offering specialized coverage tailored to the unique needs of rental property owners. 

This article will help insurance brokers better understand Landlord Insurance in Washington, DC. From understanding coverage details to navigating cost considerations, brokers will gain valuable insights into how Distinguished can help landlords secure their investments.

What Are the Top Reasons Clients Need Landlord Insurance in Washington, DC?

There are various reasons why landlords renting out residential or commercial properties in Washington, DC would need Landlord Insurance. Here are just a few reasons that might help you sell the benefits of this kind of insurance policy to your clients:

Property protection: Landlord Insurance offers protection against damages caused by covered events such as fire, vandalism, or natural disasters. 
Liability coverage: If a tenant gets injured on the property or has an issue with property maintenance, the landlord could be held liable. Landlord insurance protects landlords from legal expenses and settlement costs arising from such incidents.
Loss of rental income: If a property sustains damage and becomes uninhabitable for a while, landlords risk losing the income they would otherwise earn through rent. Landlord insurance typically includes coverage for this and ensures that they continue to receive financial support during any required repairs or renovations.

What Does Distinguished’s Landlord Insurance Cover?

Distinguished’s Landlord Insurance provides extensive coverage customized to address the distinct requirements of property owners in Washington, DC. 

To this end, we have three programs aimed at the most common types of rental properties: 

City Landlord Insurance: For landlords with anywhere from 2-100 units.
City Multi-Family Landlord Insurance: For landlords with 2-4 units that may include units that are multi-family or mixed-use. 
City Condominium Insurance: For landlords with 2-100 condo units.

These programs include Property and General Liability insurance that protects units from typical exposures like water damage, weather-related issues, and slip-and-fall liability claims.

In addition to these coverages, our programs also include:

Equipment breakdown coverage: Protects against major system repairs like electrical, mechanical, or HVAC issues. 
Sewer and drain backup coverage: Covers water damage to the property caused by drain and sewer backups.
Ordinance or law coverage: Addresses repairs required to bring properties up to code in compliance with local regulations.

For clients seeking additional protection, Distinguished also offers the following optional coverages: 

Flood insurance
Earthquake insurance
Hired and non-owned automobile coverage 
Crime insurance
Employee liability
Commercial package policy

Each of these packages is designed to provide targeted coverage for different property types and ownership scenarios. Furthermore, these programs offer the following additional advantages:

A+ paper for insured and lender satisfaction
Terrorism (TRIA) coverage is automatically included
Access to qualified tradespeople via Sedgwick Repair Services
Replacement cost valuation
Umbrella coverage is available for city insurance rentals and condos

How Much Does Landlord Insurance Cost in Washington, DC?

There are a number of factors to take into account when understanding the cost of Landlord Insurance. These include:

Property size
Commercial exposures
Location
Total insurable value (TIV) 
Loss history

Brokers looking to get a quick, bindable quote tailored to their clients’ needs can access Distinguished’s short online application process.

What Clients Can be Covered Through Distinguished’s Landlord Insurance Programs?

Distinguished boasts extensive Landlord Insurance Programs that are applicable to a wide range of clients in Washington, DC. The properties that can be insured include:

Apartment buildings, condos, co-ops, brownstones, and mixed-use buildings. 
Buildings of any age as long as appropriate upgrades have happened.
TIVs up to $25 million
Buildings with ground floor commercial spaces.
Buildings with pools.

If you’re unsure if your client qualifies, feel free to reach out to our local DC expert, Greg Somers, Business Development Manager at Distinguished Programs here at: gsomers@distinguished.com

Why Partner With Distinguished for Landlord Insurance in Washington, DC?

With Distinguished, you get far more than just access to three insurance programs perfect for the Washington, DC market. You also get a wide range of advantages, including:  

Sedgwick Repair Services: We offer our policyholders access to vetted, qualified tradespeople should they need to repair their unit after a claim. 
Convenient applications: Our intuitive online portal and dedicated claims team make it easy to submit business and file for claims.
Umbrella coverage: Perfect for smaller schedules (1-5 locations) with needs up to $10 million.
City coverages: Our programs offer Crime and Ordinance coverages, which are important in cities like Washington, DC.
Designed for most clients: Our programs are specifically designed for the average landlord as they cater to the sweet spot of 2-15 units that include mixed-use.

Partner With Distinguished Today

If you’re interested in our Landlord Insurance programs, you can get started by registering with us today. After signing up, submit your business through our online portal and we’ll get back to you with a bindable quote as soon as possible..

If you have any questions about our Landlord Insurance offerings, get in touch with our team at jodonnell@distinguished.com.

The resources below will provide you with more information about the different programs we offer:

FAQs

Do you offer Landlord Insurance in other cities as well?

Yes, we offer our Landlord Insurance in over 30 metropolitan areas across the country. These include:

You can find the complete list of eligible cities on our program page.

Do you have age limits on the buildings your program will cover?

No, we don’t have any explicit age limits for buildings we’ll cover. 

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

View a full list of our programs and submit business with Distinguished.

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