Insurance
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago on . Most recent reply
Hacking Insurance
I am hacking a 3flat(triplex) and am shopping insurance. The insurance broker I am currently working with is offering a commercial plan which seems like overkill to me. What is typical for househacking?
Most Popular Reply
Jason Bott
#2 Insurance Contributor
Pro Member
#2 Insurance Contributor
- Insurance Agent
- Nationwide
@Kevin Coleman, like @Tim Puffer notes, you need a homeowners policy, not a commercial policy.
Homeowners policy is a policy for any property that is the owners primary residence.
Landlord policy is coverage for a property that is NOT the the owner's primary residence.
So, once you move out of the property, you would cancel the homeowners policy and then purchase the commercial landlord policy.
Good luck!