Landlord Insurance Explained: Protect Your Philly Rentals & Avoid Costly Mistakes

Today we dive deep into one of the most overlooked yet crucial topics for landlords — property insurance. We sat down with Tom Cassidy, an experienced insurance broker, to break down what every Philadelphia landlord and real estate investor needs to know to protect their properties and avoid expensive surprises.

We talk about the key differences between homeowner’s and landlord policies, why replacement cost coverage can save you thousands, and how deductibles, claims history, and even your neighbors can affect your insurance rates. Tom also explains how to choose between brokers and captive agents, why builder’s risk insurance is essential during renovations, and the right time to switch from a vacant policy to a tenant-based one.

We also uncover the most common landlord insurance mistakes — from choosing the cheapest policy to missing vital coverages like water backup, service line protection, and loss of rent. Whether you manage one rental or an entire portfolio, this episode gives you the insights you need to stay covered and confident.

This episode is brought to you by TrustArt Realty, your full-service property management partner in Philadelphia. Whether you’re just getting started or scaling your portfolio, TrustArt helps you stay compliant, efficient, and profitable.

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