Steadily vs Traditional Landlord Insurance: Is the Online Quote Worth It?
Most landlords insure their rentals one of three ways: a purpose-built landlord policy from an online insurer like Steadily, a policy through a traditional insurance broker, or a "landlord endorsement" tacked onto a homeowners policy. They are not equivalent — and the wrong choice usually reveals itself at claim time. Here's how they compare.
The one-paragraph verdict
Get a Steadily quote if your rental is on a homeowners policy, a vague endorsement, or you want a proper DP-3 policy without broker phone tag — quote-to-bind in minutes. Use a traditional broker if your portfolio is unusual (mixed-use, historic, high-risk states) and you want a human shopping multiple carriers. Avoid the bare endorsement unless you've read the exclusions line by line.
What each option actually is
Steadily (online landlord insurer). DP-3 landlord policies built for investors: dwelling coverage (fire, wind, hail, vandalism, burst pipes), $300K–$2M liability, ~12 months loss of rental income, and landlord personal property. Covers long-term, mid-term, and short-term rentals in all 50 states. Average long-term policy ~$1,070/year; STR ~$1,377/year; a $300K dwelling runs $900–$1,800/year depending on state risk, roof, and claims history.
Traditional broker. An agent shops your rental across multiple carriers and places a DP-3 (or equivalent) policy. Same coverage shape as Steadily in principle; the difference is the channel — human, multi-carrier, slower.
Homeowners "landlord endorsement." Your existing homeowners insurer adds rental coverage to a standard HO policy. Often the cheapest line item — and often the thinnest coverage, with rental exclusions buried in the fine print.
Head-to-head
| Steadily | Traditional broker | Homeowners endorsement |
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| Policy form | DP-3, built for rentals | DP-3 (usually) | HO policy + endorsement |
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| Quote speed | Minutes, online | Days | Minutes (with your insurer) |
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| STR coverage | Core product | Varies by carrier | Usually excluded or surcharged |
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| Multi-property dashboard | Yes, one renewal date | Depends on agency | Rare |
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| Liability options | $300K–$2M | $300K–$2M+ | Often capped lower |
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| Best for | 1–20 rentals, STRs, speed | Unusual/complex portfolios | Single property, low risk tolerance for change |
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Cost: what drives the price
Landlord insurance runs about 25% more than homeowners insurance on the same property — tenants statistically generate more claims. Beyond that, the biggest price drivers are the same everywhere: state risk (Florida hurricanes, California wildfire, hail-belt states), roof age and condition, and your claims history. These swamp the difference between providers. The provider choice mostly affects speed, coverage quality, and how the policy treats rentals — not the base rate.
Bumping liability from $300K to $1M typically adds $200–$400/year and is worth it for most landlords. And remember: the full premium is an ordinary business expense on Schedule E.
Where each option falls short
Steadily's limits: premiums vary wildly by state (true of every insurer); it's still insurance — floods and earthquakes need separate policies, wear-and-tear isn't covered anywhere. It's the best default, not a magic discount.
Brokers' limits: you'll wait days, explain your portfolio repeatedly, and the "shopping multiple carriers" advantage only materializes if your property is unusual enough that carriers price it very differently.
Endorsements' limits: this is where landlords get burned. A homeowners policy with a rental endorsement can deny claims in ways a DP-3 wouldn't — vacancy clauses, business-activity exclusions, liability gaps. If your rental has been on an endorsement for years, pull the policy and read the exclusions. The answer surprises most landlords.
Who should pick which
Get the Steadily quote if:
- Your rental is currently on a homeowners policy or an endorsement you haven't read
- You run short-term or mid-term rentals (traditional insurers often decline or overcharge these)
- You're scaling past 3–5 properties and want one dashboard and one renewal date
- You'd rather spend 10 minutes online than a week on broker calls
Use a broker if:
- Mixed-use, historic, coastal high-risk, or otherwise unusual properties
- You want a human to shop 5+ carriers and argue your case
- Your portfolio is large enough that a dedicated agent relationship pays off
Keep the endorsement only if: you've read every exclusion, the coverage genuinely matches a DP-3, and the price beats a purpose-built policy. That's rarer than insurers imply.
The bottom line
If your rental property isn't on a proper DP-3 landlord policy, you're one denied claim away from a very bad day. For most landlords, the online route — Steadily's 10-minute quote-to-bind — is the fastest way to fix that. For unusual properties, a broker earns their keep. Either way, read what your current policy actually excludes before you renew it.
See also: Steadily Landlord Insurance Review 2026, Best Landlord Insurance Companies 2026, Rental Property Tax Deductions Checklist, Should You Put Your Rental Property in an LLC?.
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