Landlord Insurance - Landlord Forum thread

Landlord Insurance by Summer (PA) on May 31, 2012 @20:01

I'm helping my friend rent out his house. Child support/alimony has left him unable to live in the house and selling isn't an option right now. The family was living there for the past 3 years and he paid it all, but now that she is moving (yes, someone rented to her on C/S and alimony income only - with HORRIBLE credit, too!) and is taking half his income with her, he can't afford to stay in the house. So he called his homeowners insurance to change the policy and they confused me. Is landlord insurance different? Is there just one place we can go and get a policy that covers structure and liability? Here's the email. I'm confused.

"You indicated that the home at ... st. is not your principal residence and you are now renting it. We do need to insure it properly as a rental unit (Dwelling Fire policy), not owner occupied.

We can insure the property as a rental, but those policies do not carry liability insurance. Liability needs to be extended from another Nationwide property policy, either a homeowners or tenants. Where are you currently living? We can write a Tenants policy for you w/liability, and extend the liability to .... st.

At your convenience, please call me at the office and I will be happy to talk w/you to get some additional information, and begin the process of getting you quotes for new policies. I look forward to hearing from you."

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Re: Landlord Insurance by Nicole (PA) on May 31, 2012 @21:10	[ Reply ]

find another company. In PA it's called a "landlord package". it covers liability, hazard, loss of rents, a small amount of personal property and medical payments.

Re: Landlord Insurance by OK-LL on May 31, 2012 @21:36	[ Reply ]

My State Farm rental dwelling owner's policy covers hazard (fire, etc.) and liability (dog bite, slip & fall, etc.) I think your company is confusing this with the renter's insurance policy, which covers tenant's personal property, and liability. Your friend will also want to have an umbrella policy; this usually adds $1M or more to their liability coverage on their home, car, RV and multiple rental units.