I bought a house with a rental on it!

[Zach Shull]

The house has been my primary residence for almost a year and I've been renting out the guest house. I have the opportunity to move for a job now and I'm wondering, if this house is no longer my primary residence and I rent out the main house, how that will change from an insurance perspective. What's best practice in this situation? Do I need to change the policy stating that I'm no longer living there? Or do most people just leave it? Thank you!

[Bill B.]

As stated. Simple change from homeowner’s insurance to landlord policy. Should be same price or cheaper as it doesn’t cover any personal items inside. If you have a substantial net worth consider 300/300 limits and an umbrella policy. You can also equine your tenants to get renters insurance. This will cover their property (which your insurance won’t) and any damage to your property they cause.