Rental Property Insurance in Wisconsin | MM Insurance Associates

Frequently Asked Questions

What does rental property insurance cover in Wisconsin?

Rental property insurance covers the building structure, liability claims from tenants or visitors, loss of rental income if the property becomes uninhabitable, and personal property you keep on-site. It does not cover tenant belongings.

Do I need insurance for each rental property I own?

Yes. Each rental property should have its own policy or be listed on a portfolio policy. Coverage needs to match each property's value, occupancy type, and location.

What is loss of rental income coverage?

Loss of rental income coverage reimburses you for rent payments you would have received if your rental property becomes uninhabitable due to a covered loss, such as a fire or severe storm damage.

Should I require tenants to have renter's insurance?

Yes. Requiring tenants to carry renter's insurance protects their personal property (which your landlord policy does not cover) and provides them with liability coverage, reducing potential claims against your policy.

How does MM Insurance help manage insurance for large rental portfolios?

We work with carriers that specialize in portfolio policies, which cover multiple properties under one policy with simplified administration. This is often more cost-effective and easier to manage than individual policies for each property.