What is the purpose of landlord insurance?

Landlord insurance is specifically designed to provide financial protection against various risks associated with rental properties. This type of insurance typically covers property damages due to events such as fire, storms, vandalism, or other disasters, ensuring that the landlord is not financially burdened by significant repair costs. Additionally, it often includes coverage for loss of rental income if the property becomes uninhabitable due to covered damages, helping landlords maintain their cash flow during such periods.

By addressing these key areas of property management, landlord insurance serves a crucial role in securing a landlord's investment and mitigating the financial risks inherent in rental property ownership. The other options touch upon important aspects of property management, such as advertising and tenant selection, but they do not represent the primary purpose of landlord insurance, which is centered on financial protection and risk management related to property damages and income loss.