House Hacking Advice

[Jevonte Alexander]

I've secured my first deal on a single-family home that i plan to house hack. Been going through some insurance quotes. I was curious to see if anyone added some type of special coverage for renting out the extra rooms. Or if that was even necessary. 

[Andrew Bish]

It depends on the carrier and how complex your rental set up will be. Some may offer coverage in the base policy, some may decline this risk entirely. 

For the carriers in between, you may want to ask about adding a home sharing endorsement as a starting point. This is an endorsement to a home owners policy form that generally covers the risk exposure for owner-occupied homes that occasionally do short-term rentals. 

Otherwise, it sounds like you are looking at home owners policies. You could look at landlord options, some carriers like Steadily will do owner-occupied landlord polices. If you're striking out everywhere, you could even look at full on landlord policy for the building and site liability and pick up a cheap renters policy for your personal property and personal liability. 

House hacking does move away from the conventional and standardized insurance forms but should still be covered. There's lots of ways to setup coverage.