Woodland Hills, CA · Member since 2017 · 6 posts · 0 votes
Hi BP! Closing on my 2nd property and plan is to eventually rent it out.
My question is should I insure it as a secondary property or rental property? My loan is a secondary home/vacation home not rental property. Will I get into trouble?
Rental Property Investor · Steamboat Springs, CO · Member since 2017 · 255 posts · 154 votes
7y
If you're intending to rent it, insure it as a rental property. If you have to make a claim, you don't want the insurance company using that as an excuse to deny coverage. Plus rental policies will be more likely to cover things like damage from tenants.