I am going on a 1 year assignment overseas (accomodation provided by my company) and am planning to rent my primary residence.
I assume i need to get landlords insurance. Can i still keep my current homeowners insurance policy and get my landlords policy on top of it ? if not, how do i get liability insurance ?
a worried potential renter
You should not need landlords insurance on top of your homeowners insurance. The difference between the two insurances is that the landlords insurance does not cover the contents of the dwelling (only the structure). If you are going to keep your homeowners insurance, it will cover everything you will need to worry about.
great… thx for your reply.
Hello Hokie from a fellow Hokie,
there are a few additional details you should know. If you read the fine print of your current policy; by renting your house you probably need to switch to a landlord tenant policy or you will be in violation of your current policy terms. While it drops coverage for the contents inside, it adds liability protection and a few othe rminor things. The price will be higher but not by a whole lot.
Best thing to do is call your agent (or stop by their office) and explain your situation. If you were to have to make a claim, the last thing you need to be hassled (or worse, denied coverage) becuase you did not properly dislcose the stus of the structure