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Coverage For Renting Out Your House
Renting out your house can be a great way to make a little extra money. After all, if you have the house just sitting there unused—whether for a short period or indefinitely—you might as well turn it around to earn an income for you. Before you do, though, it is important you understand what kind of insurance coverage your situation will require.
- Short-Term Rentals: If you are leaving for a weekend or a couple of weeks and are just hoping to rent out your home for a short period time while you are away this one time, give your home insurance agency a call. Some insurers will allow you to rent out your home without changing your coverage, while others will simply require a rider. If you will be regularly renting out your home for short amounts of time, you may need to talk to your insurer about getting business insurance.
- Long-Term Rentals: If you plan to have long-term renters in your home, you will be their landlord. It makes sense, then, that you would need a landlord’s insurance policy, which will cover your building and your liability. You should also encourage your tenants to get renters insurance in order to protect all of the belongings they keep in your home, or you could find yourself facing a lawsuit if they get damaged since your landlord’s policy will not cover their personal property.
Getting answers to all of your insurance questions should be easy. To get a team of expert agents who can make getting the information you need a snap, contact All Nevada Insurance in Las Vegas, Nevada. In addition to the help we can offer, we will also take the time to understand your unique situation and ensure you have the right policy for it.
