Are Malicious Damages Covered By Landlord Insurance?

​Landlords often face problems in which their tenant breaks the agreement by acts of theft, vandalism, or property damage. Tenants often do something like this when there's a policy change or if the landlord raises the rent fee. In any case, landlords are still responsible for confronting the situation, which can occur for an extended period.

What is Malicious Damage?
First, you need to understand the meaning of "malicious damages." Malicious damage is a sort of vandalism in which the person intentionally damages the property. It is not accidental but usually vindictive in nature. Here are some of the examples of malicious damages:

• Broken Windows
• Holes punched/kicked in the walls
• Graffiti
• Intentional destruction of property 

Because this kind of damage is considered vandalism, renters can be prosecuted. It is either they pay fines or spend some time in jail, including paying the restitution.

Who Covers the Expenses For Repair?
If the damage is small, you may be able to cover it by using the renters' deposit. However, if the damage is severe and you don't have insurance, you may need to cover it out of your wallet. But, if purchased ahead of time, landlord insurance may be able to cover the expenses caused by malicious damage.

Does Tenant Insurance Cover Malicious Damage?
Renters insurance is very similar to home insurance because they generally cover these three:

• Damage of Property - accident damage to belongings up to policy max. 
• Liability - covers the expenses of an injured person caused by the policyholder.
• Additional Living Expenses - Covers hotel bills and restaurant expenses while the house is inhabitable.

The policyholder should know the deductibles and policy limits of insurance. Tenants can add their landlord to their renter insurance as additional coverage. When added, both tenant and landlord are insured.

Takeaway
Any intentional destruction of property is considered malicious damage, and Landlord insurance may cover its expenses. Tenants should be specific in choosing their coverage type insurance and can add their landlord to additional insurance. Lastly, Both tenant and landlord are secured when added to renters insurance.

At Hayek Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (805) 496-8835 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!