House Hack Homeowners or renters insurance?

[Jaren Woeppel]

Hey BP community,

My wife and I are about to start our first house hack with a duplex. I was wondering how everyone treated the homeowners' insurance? For example, If we take a full homeowners policy on the entire duplex we would essentially be covering the renter's personal property because the policy acts as if the entire large structure is our personal residence and requires a proportional person property coverage. Is it possible to just put the whole structure on a "rental policy" where it does not cover the personal property, then just take out renters insurance on your side? If you don't have a "homeowners" policy, will escrow or the mortgage company allow a primary residence loan?

Just a few questions I had to cut some costs as we peel back the onion of the house hacking world!

[Marissa Carroll]

When I've been getting insurance quotes on duplexes, and telling the insurer that I will be living in one side, they tell me it's best to get a landlord policy that covers the structure and carry renters insurance for my personal belongings. That's what USAA and Farmers have told me at least.