No. A standard homeowners insurance policy is null and void once
you rent the home out to another person regardless of whether you
have notified the company or not. The language is automatic. If you
have renters in your house then you are required to have the
appropriate Landlords insurance coverage for the home. Landlords or
tenant occupied polices provide coverage specific to that
The terms of a homeowners insurance policy require that the homeowner notify the company in the event of a change in occupancy. This requirement is necessary to evaluate the property owners coverage needs they no longer live in the house.
Tenant occupied properties present a different risk to an insurer than an owner occupied policy and must be rated accordingly.
Yes, but only for the dwelling, not for your renter's belongings. be sure to notify your insurance company that you have renters, your rate will go down because they're not insuring your belongings...and be sure to tell your renters about renters insurance. It should. Read your policy for coverage and see if there is a clause of replacements of items in which way they get damaged. I dont think water damage should be covered any differently then fire damage. The item is damaged and needs to be replaced. You can call your agent and ask them they should be able to tell you positively.