Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Author: cheftms One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Seasonal Rental and Insurance Reuqirements? Date: 12/15/2011 1:40 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I'm not sure if this is the correct board to ask this but I recently purchased a 2nd home in Florida and have rented it out for the season (4 months). The rest of the year the home is empty except for when my wife and I can make it there. Question I have concerns whether the home owners insurance policy needs to be amended to reflect the fact that I will have renters in the home?

Regards,

Tom
Print the post Back To Top
Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 114402 of 121114
Subject: Re: Seasonal Rental and Insurance Reuqirements? Date: 12/15/2011 2:37 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I'm not sure if this is the correct board to ask this but I recently purchased a 2nd home in Florida and have rented it out for the season (4 months). The rest of the year the home is empty except for when my wife and I can make it there. Question I have concerns whether the home owners insurance policy needs to be amended to reflect the fact that I will have renters in the home?

This isn't the right board, (there must be a real estate related board that would cover this), but I can assure you that your insurance company will insist on a different type of policy than the standard homeowner's policy if you expect them to pay on a claim associated with your tenant's (ab-)use of the property. Look into a landlord policy.

Ira

Print the post Back To Top
Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 114403 of 121114
Subject: Re: Seasonal Rental and Insurance Reuqirements? Date: 12/15/2011 3:26 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Call your insurance agent. It isn't an unusual situation. There must be a policy that is a combination landlord/homeowner for this situation.

Print the post Back To Top
Author: cheftms One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 114404 of 121114
Subject: Re: Seasonal Rental and Insurance Reuqirements? Date: 12/15/2011 3:36 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Thanks for the responses ... I just got off the phone with my insurance agent and there is a policy rider to cover seasonal rentals. The agent indicated that the insurance company could refuse to honor any claims that arose if I were to neglect documenting the rentals.

Regards,
Tom

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Advertisement