I am going to rent out my home.......do I need different insurance?

Are you considering renting your home to a family and no longer living in it yourself? Wondering if you need to notify your insurance agent? The answer is - Yes - with a rental exposure there is a need for additional coverage. In the insurance world, rental dwelling coverage is often referred to as a dwelling fire policy, it is similar to homeowner's insurance, but don't let us confuse you with our terminology... Were here to help!

There are differences between a homeowners (requires an owner occupied home) policy and a dwelling fire (tenant occupied home) policy. It's not just a reduction in property coverage for your personal belongings or company underwriting requirements, but additional liability coverage is needed too. If your rental home is located in an association that can require more coverage changes . Let us help you with your change in insurance coverage for your new venture -you don't want to find out after a claim that you did not have the right coverage in place.

by Blake Miller