Does homeowner's insurance cover renters?

Question

I'll be renting my house soon and I was wondering if my homeowner's insurance will still be effective? Some concerns are:

1. Is HO insurance still active if the house is no longer my primary residence or homestead?
2. Is HO insurnace still active if the people living in the house are not family?

Any other concerns I should be aware of?

Answer 1

Yes, your homeowners insurance is still good - it'll protect the house, but it won't cover the renters belongings. You should push that they get renters insurance so that in the case of a fire/flood/damage, their insurance will cover their stuff and your insurance will cover the house.

Yes, it's still active if the people living in it aren't family. I rent out a townhouse (granted ti's to family, but it hasn't always been family) and I kept the HO insurance and had them get renters insurance. A pipe burst in the basement, flooding it and my insurance covered the cost of the mold treatment, the pipe and the hot water heater, but they wouldn't cover the renters belongings which were stored there. But THEIR insurance did cover it and it was a win-win situation.

Answer 2

Does Homeowners Insurance Cover Renters

Answer 3

If you want to rent your house and already have a homeowner's insurance you should definitely keep it.
Your homeowners insurance covers damages to the house. But it won't cover the renters belongings.

Suggest the renters to get a renters insurance so that in case of a fire, flood, damage, break-in or accident
Of third parties, their insurance will cover their stuff and liability for accidents. And your homeowner's insurance will cover the house.
Yes, it's applicable to people living in it that aren't family, too.

Answer 4

No, homeowner's insurance is designed to cover you for damage to a house that you own, regardless of whether or not it is your primary place of residence. Homeowners' policies also protect you from liability in case someone has an accident while on your property that results in injuries. Since you are renting your house out, your tenants need to be aware that you are NOT liable for the costs to replace their belongings in case of a fire, flood, or some other accident. That's what renter's insurance is for. This applies to all tenants, regardless of their relationship to you.

Hope this helps.

Answer 5

2

Answer 6

I might suggest that you visit this site where you can get rates from the best companies: http://INSURE-HELP.COM/index.html?src=2YAvhxnoAM40

RE :Does homeowner's insurance cover renters?
I'll be renting my house soon and I was wondering if my homeowner's insurance will still be effective? Some concerns are:

1. Is HO insurance still active if the house is no longer my primary residence or homestead?
2. Is HO insurnace still active if the people living in the house are not family?

Any other concerns I should be aware of?
Follow 11 answers

Answer 7

No it's not the same.
Most HO plans include coverage for loss of home and contents etc. If you are renting the house then the renters would need to insure their own contents.
Keep in mind that as the landlord you would need liability insurance too.
You need to contact you insurance agent and work out these details before you get any renters in your home.

Answer 8

Do you mean that you will be renting your house out to other people?

The other people will also need to get renters insurance. Your homeowners coverage is still active and you need to keep it although it isn't your primary residence. You need to call and speak with the HO insurance company because there is special insurance for this purpose! My boyfriends dad owns two rental houses.

Answer 9

Are you wondering if the homeowners policy will still cover you if the house burns down yes.

You should talk to your insurance company, as you likely no longer need to cover contents of that property, but would need liability coverage in case something happens on the property to someone.

Your renters should get their own renters insurance policy to cover their property.

Answer 10

Home owners insurance does NOT cover renters, it only covers the landlord's property get some Renter's insurance, it covers you in case of fire (Your stuff get's burned) or anything else, I always tell my tenants to get their own insurance because if something happens mine will not cover their things or them.