Changing Homeowners Ins From Personal Prop to Rental?
Hi, I have a home in Illinois that has been vacant and for sale for 8 months. I have tenants that are interested in renting and we are in the process of background screening and verifying references. My question is, I currently have a homeowners policy since it was my primary residence, up until 8 months ago. I moved to Arizona but still own my home in Illinois. When do I contact my insurance company and mortgage co to inform them it is now being rented? Any assistance/guidance would be most appreciative. I am afraid they will cancel my insurance if I am not the primary residence living there?