Around holiday time, we have more home burglaries reported. Last year, a homeowner called to report a burglary, but wanted us to know that he didnt have any items in the house because it was being rented out. We had the home covered as a homeowner policy since 2005 (which means it is owner-occupied and we would cover items that he owns). He failed to notify us of the change of occupancy when he begin renting the home in 2009. The tenants didnt have renters insurance so they lost all of their children Christmas gifts one week before the holiday. The tenants assumed their items would be covered under the owners homeowner policy. Tip# 6: Your policy will only cover items that you own (not your tenant). Be sure to notify your insurance agent if you move out of your primary home and begin renting it out. Your policy should be rewritten as a Landlord Policy.
Posted on: Thu, 06 Nov 2014 20:20:05 +0000
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