Do I need to tell my homeowners insurance company before renting out my home?

Yes, you should always tell your homeowners insurance company before renting out your home. Most standard homeowners insurance policies are designed to provide coverage for owner-occupied homes, which means that if you rent out your home without notifying your insurance company, your policy may no longer provide coverage for certain types of damage or liability claims. When you rent out your home, you become what is known as a landlord, and this presents a different set of risks and liabilities than if you were living in the home yourself. For example, if your tenant causes damage to your property, your homeowners insurance policy may not cover the damage if you have not informed your insurance company about the rental. In addition to notifying your insurance company, you may need to purchase additional insurance coverage to protect yourself as a landlord. This may include landlord insurance, which is a type of insurance policy specifically designed to provide coverage for rental properties. Landlord insurance may cover things like property damage, liability claims, and lost rental income due to covered events such as a fire or a natural disaster. In summary, it is always best to inform your homeowners insurance company before renting out your home, and to work with your insurance provider to ensure that you have the right type and amount of insurance coverage to protect yourself and your property as a landlord.