Loss of rent insurance, also known as consequential coverage, is a type of insurance that protects against the loss of rental income in case the insured property is destroyed. This coverage is crucial for landlords and property owners as it safeguards their financial stability. It is important to carefully consider this type of insurance when managing rental properties, as it can provide a safety net in unexpected situations. Without it, landlords may face significant financial difficulties if their property is damaged or destroyed.
