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Updated almost 3 years ago on . Most recent reply
From living in it to renting it. Insurance?
I've been living in my house since October 2020 on an FHA loan. Normal home owners insurance in Georgia. Is there anything I need to do concerning my loan or insurance with me now moving out and renting it out? Thanks.
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Quote from @Dustin Bang:
I've been living in my house since October 2020 on an FHA loan. Normal home owners insurance in Georgia. Is there anything I need to do concerning my loan or insurance with me now moving out and renting it out? Thanks.
Nothing to change with your loan, but yes for sure your insurance. Notify them and they will change your homeowners insurance to a landlord policy.
The landlord policy will provide liability protection instead of content (furniture, clothes, etc.) protection. Usually a little higher premium but worth it. Definitely let them know.