If you own a rental property in Nevada, your insurance needs are very different from a standard homeowners policy.
One of the biggest mistakes I see is property owners assuming their homeowners insurance will properly protect a rental. It won’t.
If you are collecting rent, you need a landlord policy — also called a dwelling fire policy.
Let’s break down what that means and what you should have in place.
1. Landlord Dwelling Coverage (DP-1, DP-2, or DP-3)
Your landlord policy covers the structure itself — the home, condo, or multi-unit property you are renting out.
In Nevada, most landlords should carry a DP-3 (Special Form) policy. This provides the broadest protection and covers the dwelling on an “open peril” basis, meaning it covers everything except what is specifically excluded.
A basic landlord policy should include:
Coverage A – Dwelling (the structure itself)
Coverage B – Other Structures (detached garages, fences, etc.)
Coverage C – Personal Property (only if you furnish the unit)
Coverage D – Loss of Rents
Liability Protection
2. Loss of Rental Income (Critical in Nevada)
If your rental property suffers a covered loss — fire, major water damage, etc. — and becomes uninhabitable, you don’t just lose a building. You lose income.
Loss of Rent coverage reimburses you for the rental income you would have received while repairs are being made.
In a rising rent environment like Las Vegas and Reno, this coverage is essential. It protects your cash flow.
3. Liability Coverage (Do Not Skimp Here)
If a guest is injured on your property, you can be sued.
Slip-and-falls, dog bites, broken stairs, faulty railings — these claims happen more often than people realize.
I typically recommend:
$300,000 minimum liability
Preferably $500,000
And often pairing it with a personal umbrella policy
Umbrellas are surprisingly affordable and provide an additional $1M+ layer of protection over your rental properties.
If you own multiple properties, this becomes even more important.
4. Ordinance & Law Coverage
Nevada building codes change.
If your property suffers a partial loss, you may be required to bring undamaged portions of the structure up to current building code.
Without Ordinance & Law coverage, those upgrades come out of your pocket.
This is especially important for older homes in established neighborhoods.
5. What Is NOT Covered (And Where Landlords Get Surprised)
Landlord policies do not cover:
Tenant belongings
Tenant liability
Maintenance issues
Wear and tear
Flood (separate policy required)
Earthquake (optional endorsement in Nevada)
If you are in a flood-prone area, a separate flood policy should be considered.
Why Your Tenants Should Have Renters Insurance
This is something I strongly recommend all landlords require.
Your landlord policy does NOT cover your tenant’s furniture, electronics, clothing, or personal belongings.
If there is a fire, theft, or water loss — your tenant’s property is their responsibility.
Renters insurance is inexpensive (often $10–$20 per month) and provides:
Personal property coverage
Liability coverage
Additional living expenses if displaced
It also protects you indirectly.
If a tenant causes a fire or water damage and has renters insurance with liability coverage, their policy may respond before yours does.
Requiring renters insurance is one of the smartest risk management tools a landlord can implement.
Additional Coverage to Consider in Nevada
Depending on the property and location, you may also want to explore:
Service Line Coverage
Equipment Breakdown
Sewer Backup Coverage
Short-Term Rental Endorsements (if applicable)
If you are doing Airbnb or short-term rentals, that is a completely different insurance conversation.
Final Thoughts
Owning rental property can be an excellent investment.
But one uncovered loss can wipe out years of profit.
The right landlord policy protects:
Your structure
Your rental income
Your liability exposure
Your long-term financial stability
If you own rental property in Nevada and are unsure whether your current policy is structured correctly, I’m happy to review it.
At Trenchant Insurance, we specialize in protecting real estate investors with the right coverage — not just the cheapest premium.
Because when you’re a landlord, you’re running a business.
And your insurance should reflect that.