I currently am renting out the basement of my home. Are my tenants covered under my homeowners insurance?

In most cases, your homeowners insurance policy will not cover your tenants who are renting out the basement of your home. Homeowners insurance policies typically provide coverage for the homeowner and their immediate family members living in the home, but do not extend to tenants who are renting a portion of the property. If you are renting out the basement of your home, it is important to notify your insurance provider and obtain the appropriate coverage. This may include a landlord insurance policy, which is designed to provide coverage for rental properties. Landlord insurance typically provides coverage for property damage, liability claims, and loss of rental income. When obtaining landlord insurance, it is important to carefully review the policy terms and conditions to ensure that you have the appropriate coverage. For example, you may need to purchase additional coverage if you are renting out a furnished basement or if you have multiple tenants. It is also important to require your tenants to obtain renters insurance, which can provide coverage for their personal belongings and liability claims. Requiring renters insurance can help protect both you and your tenants in the event of an accident or loss. Overall, it is important to work closely with your insurance provider to ensure that you have the appropriate coverage when renting out a portion of your home. By taking the necessary steps to obtain the right insurance coverage, you can help protect yourself and your tenants from potential risks and liabilities.