Has anyone lived temporarily in one of their company owned rental homes?
I am running into a debate with the insurance company. They want to switch it to a primary residence.
Thanks for your time.
does your agent know its a rental? two different policies, if you insure as your primary residence, rent it out, and have a loss, you will have problems
The agent knows it is a rental. Our company owns it. Why would it matter to the insurance company if I rent it from our company and not someone else?
Just wondered if anybody has dealt with this situation before?
Thanks again.
Your agent wants you protected properly. The contents are not covered if you move into the rental. If you rented it from your company (actually pay rent) and take out a renters insurance policy then he should have no problem.
by “our” company, I assume you mean that you own the company that owns the rental.
there are tax issues with personal use of a rental property.
not that you can’t do it, just let your tax pro know what’s up.