Landlord Insurance for Landlord living in house with tenants
Is there a type of landlord insurance that will offer dwelleing protection, liability coverage and, premises medical protection etc. to a landlord living in the house with tenants that rent by the room? Does it depend on the insurance provider?
Thanks!
@Cameron King if that property is the owner primary residence, a Homeowners policy is the correct policy. Landlord Liability is then added to the policy to protect the owner.
Not every insurance carrier is comfortable with "rent by the room", so you may need to call around until you find a competitive option.
Thank you!@Jason Bott
Jason is right, there are two policies you will need. The landlord policy isn't expensive.
In terms of what you want, check with the insurance carriers and then ask about an umbrella policy to cover the difference. I'm working on an umbrella policy now.
@Jason Bott is of course correct. There are (at least in Texas) a few carriers that will have a base HO policy that will actually have a room renters endorsement where you will only need that one policy. I know State Auto will in some areas.
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