Home insurance question

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Home insurance question

Malik Rasheed
Wholesaler · Long Island, NY · Member since 2020 · 11 posts · 4 votes

If I’m moving out of my house to rent it out (yearly) do I have to change my home insurance?

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Theresa HarrisPro Member
Member since 2019 · 15k+ posts · 11k+ votes
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James is right.  Make sure you have it stated in the lease that the tenant needs their own insurance and has to provide you proof of it.

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  • James McGovern
    Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 408 votes
    1y

    Yes. You should get landlord coverage and mandate that tenants purchase tenant insurance 

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    • Malik Rasheed
      OP
      Wholesaler · Long Island, NY · Member since 2020 · 11 posts · 4 votes
      1y
      Quote from @James McGovern:

      Yes. You should get landlord coverage and mandate that tenants purchase tenant insurance 


       Is tenant insurance up to them? Meaning it wouldn’t affect me? 

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    • James McGovern
      Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 408 votes
      1y

      @Malik Rasheed the tenant pays for their own insurance. This needs to be mentioned in the lease agreement 

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  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    1y

    James is right.  Make sure you have it stated in the lease that the tenant needs their own insurance and has to provide you proof of it.

    1Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y
    Quote from @Malik Rasheed:

    If I’m moving out of my house to rent it out (yearly) do I have to change my home insurance?


     Go from homeowner to rental insurance. Then get the tenant to get a renter's insurance policy. 

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  • Isaiah Hall
    Real Estate Agent · Houston, TX · Member since 2025 · 59 posts · 31 votes
    1y

    Yes, you’ll need to update your insurance. Once you move out and rent the property, it’s no longer considered your primary residence, so a standard homeowner’s policy won’t cover you properly.

    You’ll want to switch to a landlord insurance policy. It covers things like:

    • Property damage (structure)

    • Liability if a tenant or guest gets injured

    • Loss of rental income (if the home becomes uninhabitable due to a covered event)

    Be sure to notify your insurance company before tenants move in. If a claim comes up and they find out it was tenant-occupied without the right coverage, they may deny it.

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  • Patrick O'SullivanBusiness Member
    Property Manager · Phoenix, AZ · Member since 2024 · 534 posts · 205 votes
    1y

    Yes, switch from a homeowner's policy to a landlord (or "dwelling") policy before your tenants move in. Homeowner's insurance assumes you’re living in the property—once you’re not, coverage gaps can become a big issue, especially with liability or claims related to tenant activity.

    Also, like others mentioned, it’s smart to include a requirement in the lease that your tenant carries renters' insurance and provides proof. It protects their belongings and gives you another layer of liability protection.

    Calling your insurance provider and explaining the situation will help make sure you’re fully covered. Better to handle it now than risk a denied claim later.

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