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If you were living in your home when you first took out the homeowner's policy, then, yes, you do need to change it. To not notify the insurance company that you are now renting your home could render your coverage null and void, resulting in the loss of coverage should something happen to the house. There are several types of coverage, some of which offer more coverage than others. In your case, you need to change the policy since the house is now a rental. But, there are other factors involved, too. Did you rent the home furnished? If so, you need to maintain coverage that will still insure your contents of the house. If not, then you need to change the policy to cover the house only. The renters will need to take out a rental policy, which will cover their belongings in the event of a fire, or other types of damage. You also need to talk to your insurance agent about keeping liability insurance on the house, as well. And, since some renters aren't aware that the landlord's insurance won't cover their belongings, you need to inform the renters that they will have to take out a rental policy to insure their belongings (furniture, clothes, etc.) if they want them insured. Also, keep in mind that a homeowner's policy does not cover flood damage; that will have to be a separate policy.
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Why should you have insurance if it paid for house?
if you paid cash for the house do you need homeowners insurance
Will I need to change my homeowners policy if I add a wood pellet stove to heat my house?
Yes you may need to consult your insurance agent if you make such a change to your home as you may need different coverage.
Do renters need homeowners insurance?
NO, But they can get Renters or Tenants insurance
Does insurance pay for damage if the house is unoccupied?
Homeowners Insurance and the Vacant HomeNo, Homeowners Insurance automatically becomes null and void when a home becomes vacant.You need to add a "Vacant Property Rider" to your policy to ensure continuing coverage during a period of vacancy.
If you refinance your mortgage do you need to get hazard insurance if you already have homeowners insurance?
hazard insurance is another way to say homeowners insurance - they should be referring to the same thing
Does homeowners insurance cover a garage door that was hit be a friends vehicle and his vehicle?
Your homeowners insurance will cover your garage door subject to your deductible since it is part of your house. Your Home insurance does not cover damage to a vehicle though. That's what Auto insurance is for. Your friend will need to contact his auto insurance to fix his vehicle.
Does homeowners insurance pay your mortgage if you become disabled?
Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.
Where can one find out how much homeowners insurance is?
In order to find out how much homeowners insurance is, one would need to contact an insurance provider. There is no obligation to buy the insurance but an insurance quote can be provided.
Does homeowners cover a murder of a person on the policy?
Homeowners insurance does not generally cover the murder of a person listed on the policy. For that, you need life insurance.
Does homeowners insurance cover your stolen moped if it was in your yard?
No, You would need cycle insurance for your moped. Homeowners insurance does not provide coverage for vehicles that are designed to operate on public roads.
Does Wallside Windows accept homeowners insurance?
To make a claim with your homeowners insurance policy, you will need to contact your agent for details on how to proceed from there. In searching the Wallside Windows webpage, I did not see any indication that they accept homeowners insurance as payment.
Does homeowners insurance pay off your mortgage if one of the homeowners dies?
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
