I want to rent out an apartment above my garage. How would this impact my homeowners coverage?

Renting out an apartment above your garage could impact your homeowners coverage in several ways. Firstly, it may affect the coverage limits on your policy. Renting out a portion of your property increases the risk of damage or liability claims, and your insurer may require you to purchase additional coverage to adequately protect your property. Secondly, your insurance company may require you to make certain changes or additions to your property to minimize the risk of accidents or damages to your tenants. For example, you may need to install smoke detectors, fire alarms, or sprinkler systems, and your insurer may require proof of these changes before they approve your coverage. Thirdly, if you are renting out a portion of your property, you may need to purchase liability insurance to protect yourself in case a tenant or their guest is injured while on your property. Your homeowners policy may provide some liability coverage, but it may not be enough to cover the costs of a major injury or lawsuit. It is important to inform your insurance company that you are renting out the apartment above your garage. Failing to do so could result in a denial of coverage if a claim is filed. Additionally, if you fail to disclose that you are renting out the space, it could be considered insurance fraud, which is a serious crime. In summary, renting out an apartment above your garage can impact your homeowners coverage, and it is important to speak with your insurance agent to make sure you have the appropriate coverage in place to protect yourself and your property.