Does Homeowners Insurance Cover Renters?

Posted on by agentinsure

Renting out your Florida home is a great way to earn extra money during the months you are not living in the residence. With so many homes available for rent, homeowners in Ft Meyers, FL may be wondering if their homeowner’s insurance policies cover the renters in their Florida homes. Unfortunately, your basic homeowner’s insurance policy does not cover renters in your home, nor does it protect their property. 

For more information about how to get your renters covered, call the experts at Martin Insurance Team today. 

Does Homeowners Insurance Cover Renters? 

Homeowner’s insurance does not cover renters. It is a policy that protects the structure of the building and the landlord’s personal property. Your homeowner’s insurance policy does not cover your tenants nor their personal property. Therefore, it is best to recommend or require your tenants to purchase their renter’s insurance policies. 

Should I Get Landlord Insurance? 

If you plan to rent out your home, you should consider getting landlord insurance. This insurance is similar to homeowners insurance but designed to protect properties you do not live in. Coverage includes dwelling, personal poverty, and liability protection. Most homeowners insurance policies require you to live in the home, while landlord insurance provides the same coverage without you having to live there. 

Protecting Your Rental Property

When renting out your home, you want to make sure your property is protected. To ensure you and our rental property are protected against any unforeseen accidents, it is recommended you do the following:

  • Purchase additional liability coverage
  • Remove all of your personal belongings from the home
  • Check the property’s classification with the insurance company (ensure it is classified as a rental)
  • Get flood insurance
  • Make renters insurance mandatory for your tenants and get proof of it

When renting out your Ft Meyers, FL home, call the Martin Insurance team to discuss your options about landlord insurance coverage.