As a landlord, if you are renting your house or condominium or operate a boarding house, your insurance needs are unique. You may require not only insurance on the structure, but also on your contents (appliances), the income derived from the rental, and additional liability.
Some home insurance policies can provide additional coverage when renting out a portion of your property. It is important to know what limits and restrictions there may be and when it is most appropriate to consider purchasing specific insurance for rental purposes.
- coverage for theft and vandalism
- what happens in the event of a claim that may lead to a loss of rental income
- consider what limits might be in place for certain losses