Renting out your house can have an impact on your homeowners insurance. Here are a few key points to consider:
1. Change in occupancy: When you rent out your house, the occupancy changes from being your primary residence to being occupied by tenants. This change in occupancy can affect your insurance coverage.
2. Liability coverage: Homeowners insurance typically includes liability coverage, which protects you if someone is injured on your property. When you rent out your house, the liability risks increase, as you are now responsible for the safety of your tenants. It's important to review your liability coverage to ensure it is adequate for the increased risk.
3. Dwelling coverage: Dwelling coverage is another important aspect of homeowners insurance. It covers the structure of your house in case of damage or loss. When you rent out your house, the risk of damage may increase due to tenant activities. It's important to inform your insurance company about the change in occupancy to ensure your dwelling coverage is appropriate.
4. Loss of use coverage: If your house becomes uninhabitable due to a covered loss, homeowners insurance typically provides loss of use coverage, which helps with additional living expenses. However, when you rent out your house, loss of use coverage may not apply, as the tenants are responsible for finding alternative accommodations.
5. Additional coverage options: Depending on your insurance company, you may have the option to add additional coverage specifically for rental properties. This can provide protection for rental income, landlord liability, and other risks associated with renting out your house.
It's important to note that every insurance policy is different, so it's recommended to contact your insurance company directly to discuss your specific situation and ensure you have the appropriate coverage. Always review your policy and consult with your insurance agent to fully understand how renting your house may impact your homeowners insurance. They can provide guidance and help you make any necessary adjustments to your policy.
I hope this helps! Let me know if you have any other questions.