Does homeowner’s insurance cover renters?

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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?

12 Comments
  1. Reply
    laura g
    July 21, 2011 at 1:58 am

    Yes it will cover you but not the renters, they should get renters insurance

  2. Reply
    pura_rosa
    July 21, 2011 at 2:49 am

    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.

  3. Reply
    gr82cu
    July 21, 2011 at 3:28 am

    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.

  4. Reply
    CHARLES R
    July 21, 2011 at 3:39 am

    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.

  5. Reply
    Mischele, RN
    July 21, 2011 at 3:48 am

    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.

  6. Reply
    idontwantasalad
    July 21, 2011 at 4:20 am

    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.

  7. Reply
    Diane M
    July 21, 2011 at 4:57 am

    You insurance changes when you are renting property. You have the regular insurance on the building and liability but the contents of the renter arent covered. Your rates will go up if its rental property rather than owner occupied.

  8. Reply
    wife in South Africa
    July 21, 2011 at 5:54 am

    HO insurance is on the building and normally active when you still have a bond on the property.(unless you have extended this if you own no money on the propert) You need to advise your insurance company, this should not affect your monthly premium. household insurance (if you funiture is part of the rental agreement) be mentioned to your insurer. this honest information/change to your insurer will help you in the end.

  9. Reply
    Starlight 1
    July 21, 2011 at 6:15 am

    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.

  10. Reply
    mbrcatz17
    July 21, 2011 at 7:04 am

    A homeowners policy is for OWNER OCCUPIED homes. Once the house is not owner occupied, depending on your policy form and state, some coverage suspensions automatically go into place. Furthermore, as soon as you change your mailing address from your house, the insurance company is going to know.

    You need to go buy a dwelling fire policy. That’s the policy for rented/non owner occupied houses.

  11. Reply
    SS
    July 21, 2011 at 7:27 am

    No, your homeowners will not cover your home if you are not living there. What you need is a dwelling fire policy. Your tenants are responsible for their on insurance in the form of a renters policy. You need to contact your agent and tell them the situation so they can write you the proper policies.

  12. Reply
    newjerseyguy
    July 21, 2011 at 7:34 am

    If you turn your home into a rental property, you will definitely need to alter your coverage. Contact your insurance company.

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