Best Landlord Insurance Companies Compared (2026)
Your regular home/auto insurer can probably write you a landlord policy — but investor-focused carriers often quote faster, understand rental risks better, and cover situations (vacant units, mid-renovation properties, short-term rentals) that standard carriers exclude. Here's how the real options compare.
What to compare (before the company names)
Don't shop on premium alone. Compare these:
- Policy form: DP-3 (open perils, replacement cost) is the gold standard for rentals. DP-1 (named perils, actual cash value) is cheaper and thinner — fine for a low-value property, risky for anything else.
- Liability limits: $500K minimum, $1M preferred. Check whether an umbrella is available.
- Loss of rent: usually a percentage of the dwelling limit (10–30%). Know the number.
- Vacancy tolerance: how many days can the unit sit empty before coverage shrinks?
- Investor features: online quoting, adding/removing properties mid-term, vacant and renovation coverage.
The investor-focused carriers
Steadily — best all-digital experience
Built exclusively for rental property insurance, operating in all 50 states. Offers DP-3 (open-peril, replacement-cost) policies with dwelling limits up to $1.5M, liability up to $1M, and loss-of-rent coverage up to 30% of the dwelling limit. Covers long-term, mid-term, short-term, and vacant/renovation properties. Quoting, binding, and claims are all online.
- Pricing: one of the few to publish estimates — a DP-3 on a $300,000-dwelling single-family rental "typically running between $900 and $1,800 per year." Final quotes are property-specific.
- Best for: landlords who want the whole thing done online in minutes.
Obie — best for portfolio landlords
Covers single-family, 2–4 unit multifamily, 5+ unit apartments, and condos, with property, liability, and loss-of-rent coverage plus short-term rental options. Licensed in roughly 50 states and now part of Baldwin Group (2026). Known for instant online quotes and same-day binding, with partnerships across the landlord ecosystem (Roofstock, RentSpree, and others).
- Pricing: no official starting prices published — quotes are property-specific. (Their marketing claims landlords save 25% on average; treat marketing claims as marketing.)
- Best for: investors scaling a portfolio who want fast quotes and landlord-native workflows.
NREIG (National Real Estate Insurance Group) — best for vacant and in-flux properties
The Kansas City-based investor insurer (formerly branded "REI Guard" for its residential program — that brand is retired; the company now goes by NREIG). Stands out for its monthly reporting form: add and remove properties month to month with no minimum earned premiums — ideal if you buy, sell, or renovate frequently. Covers rental, vacant, renovation, new construction, vacation rental, and mobile home properties.
- Pricing: publishes premises liability "for as low as $7 per unit, per month" ($1M per occurrence / $2M aggregate). Dwelling coverage is proposal-based.
- Best for: flippers, BRRRR investors, and anyone whose property count changes constantly.
The traditional carriers
American Modern — best via independent agent
A major specialty carrier selling dwelling fire products through independent agents: DP-3 comprehensive (replacement cost, up to four-family, homes up to 80 years old) and DP-1 basic (named peril, actual cash value, no age limit). Optional premises liability from $25K to $500K, with short-term rental options. No published consumer pricing — everything goes through an agent.
- Best for: landlords who already work with an independent agent and want a mainstream carrier's paper.
Foremost (a Farmers company) — best for odd situations
In business since 1952, now part of Farmers Insurance Group. Its Dwelling Fire program offers TDP-1 (named peril, ACV) and TDP-3 (comprehensive, replacement cost) forms for landlord, vacant, vacation rental, seasonal, and renovation properties. Notably returned to writing landlord dwelling-fire lines in California in 2025. Agent-quoted, no published pricing.
- Best for: vacant properties, renovations, and other situations standard carriers decline.
USAA — best if you're eligible
USAA's rental property insurance covers dwelling repair/rebuild, personal liability, and lost rental income — and explicitly covers short-term rentals (Airbnb/Vrbo) alongside long-term tenants. Generally insures up to 10 properties, up to four-family buildings.
- The catch: eligibility is restricted to USAA members (military, veterans, and eligible family). If you qualify, it's consistently among the best-rated carriers for claims service.
- Best for: eligible military families who landlord on the side.
The short-term rental specialist
Proper Insurance — best for dedicated STR
If your "rental" is a full-time Airbnb/Vrbo, a standard DP-3 won't cover you — most exclude short-term stays. Proper Insurance (acquired by Specialty Program Group in 2026) writes a commercial-grade STR policy that replaces your homeowners/landlord policy entirely: commercial general liability starting at $1M per occurrence, loss-of-income coverage, and guest theft/vandalism coverage. Backed by Lloyd's of London and Concert Specialty (both A-rated), licensed in all 50 states, and exclusively endorsed by Vrbo.
- Best for: full-time short-term rental operators who need real commercial coverage.
How to actually shop
1. Get three quotes: your current home/auto insurer (multi-policy discount), one investor-focused carrier (Steadily or Obie), and an independent agent who can quote American Modern or Foremost.
2. Compare the form first, premium second. A cheap DP-1 with a 30-day vacancy clause isn't cheaper than a DP-3 once you read the exclusions.
3. Disclose everything: renovations, vacancy periods, short-term stays. A claim denied for misrepresentation is the most expensive insurance you'll ever buy.
4. Re-shop annually. Carriers reprice constantly; loyalty is rarely rewarded in insurance.
The bottom line
For most small landlords, the choice comes down to Steadily or Obie for the digital experience, NREIG if your portfolio is always in motion, and an independent agent quoting American Modern or Foremost for everything else. USAA members should start there; full-time STR hosts need Proper Insurance. Get the DP-3, carry $500K–$1M in liability, and read the vacancy clause before you sign.