I hope this BLOG finds you well. Not sure if you knew, but your homeowner’s policy likely has a clause that terminates coverage if you decide to turn your home into a rental property.

In fact, as soon as you sign a lease with a tenant, you'll need to change your homeowner's policy to a landlord policy . A landlord policy covers risks a standard homeowner’s policy won't, such as:

• Protection from fire, lightning, wind, vandalism, theft, and other coverages
• Rent loss coverage 
• Personal property left to service the rental (such as a lawnmower)
• Coverage for family dwellings and detached structures
• Coverage for single- and multi-family units 



It’s important to note a similar situation occurs if you decide to move into a rental property you own. In that case, you’ll need to switch your insurance from a landlord to a homeowner’s policy. Failing to do so could mean your personal property isn’t covered (or if it is, only for a minimal amount).

Call, Click or Come by if you have questions or would like to talk more. We are always here to answer your questions and ensure your assets are protected at every turn.

Rising Star Insurance Group – Protecting What Matters Most to YOU for over 40 Years.