Could the company possibly fight against paying for damage because we only had a policy? Is there a special policy one needs to cover property that is rented out?

 

  • Nick 8:03 pm on November 7, 2009

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

  • Rah Rah 8:03 pm on November 7, 2009

    yes

  • DER ALTE FIRZ 8:03 pm on November 7, 2009

    Insurance is specific about what type of insurance you need for a dwelling. Especially if it is a rental unit.
    You will need to have coverage for the building, contents (that belong to you) and a lot of insurance covering renters damages.
    I’ve got no idea of the cost. It will depend on just what you are insuring.
    Talk to a GOOD insurance company.

  • jlf 8:03 pm on November 7, 2009

    No, you should NOT have a homeowner’s policy if the house is not owner-occupied. You need different coverage – see an insurance agent.

  • car253 8:03 pm on November 7, 2009

    You need a Rental Dwelling Policy (RDP). It covers the building, liability, loss of rents, and some other stuff.

    Just call your insurance agent and tell them to change your homeowners policy to a "rental dwelling policy". It is easy.

    And, you might want to require your renter to get their own renters insurance to cover their own personal property. They can call your insurance agent for that or call their auto insurance company to see if they offer it.

  • the tax lady 8:03 pm on November 7, 2009

    Of course they’d fight you.

    1. You didn’t pay enough. Policies on rental property cost more.
    2. A rental policy does not cover items that do not belong to you, so your tenant needs their own policy.

  • mbrcatz 8:03 pm on November 7, 2009

    Homeowners insurance, is for owner occupied properties. So if you’re lying and saying that it’s owner occupied, your lie voids the policy. No fight necessary.

    If you put dwelling fire coverage on it, it doesn’t cover normal wear and tear from a tenant. It will cover vandalism, if you file a police report and press charges.

    Also, any claims you file on your rental property, will affect ALL your insurance policies – and if you have more than two claims in three years, you can be cancelled, and no one will WANT to give you insurance – not even for the house you live in. So that’s pretty good incentive to screen your tenants pretty carefully.

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