Moving out, do I need to change insurance??

Question

Hi everyone!

I’m moving out of my house back in Denver so it’s no longer my primary, does this require a change my home insurance?
Do I need to call my insurance and tell them it’s all tenants?
does it need
I don’t want a event like a fire or flood and they ask I live there and I say no and they say I should of had some other kind of insurance and the house isn’t covered and a total loss that I now owe all the money on bc there’s no insurance coverage. That would be a disaster.

Thank you!

Andrew Postell · Answer

@Bill Graham yes, absolutely.  No need to have "contents" insured anymore...well, unless you are leaving all your stuff behind.  But landlord insurance is different then owner insurance.  Even different policy types.  Get it changed.

John Mocker · Answer

Bill,

You need to contact your Insurance agent.  There are a few Homeowners policies that can be changed to a fully rented situation by endorsement but they are few and far between.  The vast majority of Insurance companies only write a Homeowners policy for an Owner Occupied house.   In most of those situations, your agent will need to write you a new Dwelling Fire policy (also called a Landlord policy by some companies).  If your agent is not an independent Agent (ie. the current agent only represents one company) I would suggest also getting quotes from an Independent Agent that represents many carriers.  Often a company that is competitive on Homeowners is not for the Dwelling Fire policy.

Bruce Woodruff · Answer

Absolutely! You are changing the status from a residence to a business and they need to know. Always be completely honest with Insurance Companies.....you would hate to be denied on a claim.

Brittany Guimond · Answer

Yes, you’ll want to make sure you have the right insurance package and premium in place for renters. We also got an umbrella policy when we moved.

Moving out, do I need to change insurance??

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