What to look for in Insurance Policy to ensure Landlord coverage?

[Darek J.]

Hello all, 

I am reviewing my insurance policy and I am curious what I should be looking for to ensure that it is the proper coverage for a rental property.  I have a duplex which I live in one unit and rent the other.  There are a few red flag that stood out to me as being a concern.

First I will start by saying that I have AAA, as it was the cheapest with my auto insurance bundled.  I originally had a Farmer's policy, which I felt better about.  I do not recall the AAA agent asking me the thorough questions the Farmers agent did.  I am assured by him that my policy takes into account the fact it is a rental property.

1. The only confidence that I have that on the Policy it says, Number of Family units in BLDG: 2

- This would seem to imply that the policy covers a Duplex, however...

2. There is a box checked, any business pursuits conducted on the premises

- This is checked NO, as I assume it to mean something like a Day Care or something to that effect.  BUT would my renting the unit out be considered a business?

3. THIS SEEMS TO BE THE BIGGEST RED FLAG.  There is a box that says: Rented to others or not Owner Occupied.  This box is checked NO.  Now... I am renting unit 101 so this seems to be a conflict.   I think this box should be an obvious YES.  Please advise me on what you think.

4. Lastly, the "Dwelling Address" lists the street address and #102.  I have an issue with this too.  There are 2 units here and I would not want any confusion as to coverage for the building if something were to happen.  Do you think this is something I should have changed?  Either omitting the #102 all together and just having the street address, or possibly adding #101-102 to the dwelling address.  

Thank you for your guidance.