Should I report my tenants on the home insurance policy?
I used to live in my house but now I am renting it out. Should I tell my home insurance company that I will no longer live there and tell them about the tenants?
RIGHT AWAY! you cannot have a homeowners policy if you the homeowner do not live in it. your policy needs to be rewritten as a landlord policy. this covers the dwelling (make sure you also keep liability on it). your tenants should then pick up a renters policy to cover their belongings. if you can find a company in your area that will write your property on a commercial package policy, it will keep your premium a lot lower. i have a company that does this and it actually gives them MORE coverages than a regular landlord policy for less premium.
Categories: home insurance Tags: Belongings, Commercial Package Policy, Dwelling, Home Insurance Company, Homeowners Policy, House Renting, insurance, Insurance Policy, Landlord, Lot