2

Sort of unsure if this should be in law stack or here...

I have seen online that landlord insurance is decidedly different from standard home owners insurance. If my property is a tenant-occupied rental property, is the regular home insurance completely worthless? If some damage occurs, will the normal home insurance cover absolutely nothing for me because I should've had landlord's insurance?

1
  • 1
    You'll need to read your policy
    – littleadv
    Feb 8 at 4:57

1 Answer 1

1

Each policy type is different. When the nature of the thing to be insured changes, you need to talk to an agent or insurance broker.

If some damage occurs, will the normal home insurance cover absolutely nothing for me because I should've had landlord's insurance?

Lets say you have standard homeowners insurance, and something vital to habitability breaks. Your policy might or might not cover the replacement. But as a landlord you have an additional issue: state rental law may require you to refund part of their rent while the item is being fixed; you might have to to put them in a hotel while the repair is made. The standard homeowners policy might not cover the added expenses for this unspecified person, and the loss of income for your business.

This is from the website of a US insurance company:

Heating or Air Conditioning Loss Reimbursement provides reimbursement for payments made to a tenant as a result of the complete loss of heating or air conditioning to a tenant's leased unit due to covered mechanical breakdown or electrical failure of the heating or air conditioning system.

This isn't covered in a standard homeowners policy.

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .