Landlords Insurance, do i need it if i have a home policy?

4 Comments

1. MSAD says:

   March 19, 2010 at 11:03 pm

   If you are living in your home – and decide to no longer live in the home but rather to rent it out – you will need to contact your insurance agent and let them know. This is a change in occupancy and your agent should be notified.
2. Gail says:

   March 21, 2010 at 4:04 am

   You don’t give enough specifics to properly answer the question, but if I understand your question, you are renting the house in which you current live.

   Your rental agreement should specify who is responsible for the building coverage, and who should take out the homeowners policy (or dwelling policy if it is the landlord). If you are not responsible for the building, you can purchase a renters policy for your contents and for your personal liability.

   Your landlord is still responsible for his own negligence and will have to take out a policy to cover himself. He may ask you to take out a homeowners policy on the building and ask you to add him to the policy (since he is the owner), but most likely, you will only need to have the renters policy as described above.
3. mbrcatz says:

   March 21, 2010 at 6:49 pm

   Your homeowners policy is for an owner occupied house. If you’re not living in it, the policy doesn’t apply.

   When you rent your house, it becomes a BUSINESS. Look at all the exclusions on your policy, for BUSINESS operations. There are absolute exclusions on the liability, and a fair amount of exclusions on the property coverage, also.

   Discuss it with your agent – you’ll flat out need different coverage, if you move out and rent the house to someone else.
4. Arny says:

   March 24, 2010 at 5:06 am

   homeinsurance.awardspace.us – try this one. Got my home insurance from them. As I know they provide such a service.