Doesn't make sense. If a renter (or anyone for that matter) gets injured in the home, the insurance would pay for it. There is also a chance a renter may steal something from your property or perhaps even vandalize it. It would seem if you told an insurance company you plan to rent your residence, the rate would go up because of an anticipated risk. In today's market, I would guess some insurance companies would not write a policy at all. Too high of a risk!
I think because the home would no longer be a residence but now a business, you would have to purchase a type of insurance that covers businesses and business loss. Landlord insurance? Homeowners insurance would not cover a rental business.
Last edited by margaretmattson; 07-14-2023 at 12:38 AM.
Reason: add more info
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