Question 1

Can I keep my homeowners policy if I rent the house out?

Accepted Answer

No, and this is the most common mistake we see. Once the property is tenant-occupied, a standard homeowners policy is the wrong form, and a carrier can deny a claim on those grounds. The replacement is a landlord or dwelling policy. Tell us before the tenant moves in rather than after a claim.

Question 2

What is loss of rents coverage and do I need it?

Accepted Answer

It replaces the rental income you lose while the property is being repaired after a covered loss. If a kitchen fire puts a unit out of service for four months, the repairs are one problem and four months without rent is a separate one. For an owner relying on that income to cover a mortgage, this is usually the most important coverage on the policy.

Question 3

Am I covered if I list the property on Airbnb or VRBO?

Accepted Answer

Usually not without telling us. Most landlord policies are written for conventional tenancy and either exclude short-term rental or restrict it. If you rent the property by the night, even occasionally or only part of the year, say so up front. The fix is straightforward when we know about it. It is not fixable after a claim.

Question 4

Should I require my tenants to carry renters insurance?

Accepted Answer

We generally recommend it, and many owners write it into the lease. Your policy covers the building and your liability as owner. It does nothing for the tenant's belongings. When a tenant has no coverage and loses everything, the pressure to make them whole tends to land on the owner regardless of who was responsible.

Question 5

Who is responsible if a tenant damages the property?

Accepted Answer

Ordinary wear and tear is yours. Sudden accidental damage is generally covered by your policy subject to the deductible, and your carrier may pursue the tenant if they were negligent. Deliberate damage and slow deterioration from neglect are usually excluded, which is one more reason tenant screening belongs inside your risk management rather than beside it.

Question 6

Does landlord insurance cover earthquake?

Accepted Answer

No, not without adding it. The same exclusion applies as on an owner-occupied home. Because a rental property is both an asset and an income stream, the case for earthquake coverage on a rental is often stronger than on a primary residence, not weaker.

Question 7

I have several rental properties. Should they be on one policy?

Accepted Answer

Often yes. Once you are past two or three units, a single policy covering the schedule is usually simpler to administer and can be structured more efficiently than a stack of individual policies. It also makes it far easier to keep an umbrella properly seated above everything.

Landlord Insurance in Washington

What's typically covered?

Common questions about landlord insurance