Homeowner's insurance tips for house-hack in San Francisco?

5 Replies

Just closing on a duplex in SF and need to figure out insurance.  

Looking for coverage tips and recommendations if you have any.

Setting this up as a house-hack, will live in 1 unit and may AirBnB it up to allowable amount by city regulations (90 days for primary residence), and rent out the back.

What sort of coverage should I be looking for?

I'm a newbie when it comes to owning real estate so any tips or things to watch out for would be greatly appreciated!

Do I need separate earthquake insurance in SF?  Do I need an additional umbrella policy to protect assets?

Without the Airbnb angle you should be able to buy a primary homeowners policy (some companies will not go for this others will - try Farmers I know they will do it). 

Make sure the agent knows it's a duplex so the policy is properly set up. Your tenant in the other unit needs to buy their own Renters policy to cover their property and liability.

Adding the Airbnb throws a wrench in the whole thing. There are "vacation and short term rental policies" available but you living there full time and having the full time tenant in the back unit may cause an issue on that type of policy. 

You need to find a local agent to sort all this out with you. Not all agents are created equal - try to find someone familiar with RE investing.

get quotes from several independent insurance agents and make sure you explain the situation (I have a great agent if you need a referral)  Earthquake insurance will be insanely expensive, and thus most people don't have it, but that is a decision about your comfort level.