Type of Insurance needed?

[Emily Hobbs]

Hello BP! I'm in need of some advice. My husband and I are purchasing a home in the Houston area. The property has 4 units total: one main house (will be our primary residence), a converted garage (upstairs and downstairs unit), and a pool house. So basically 3 rentals on our property. What type of insurance makes the most sense for this type of property since we will also be occupying it? A basic homeowners policy for the main house where we will be living? A landlord policy? This will be our first rental property purchase. In addition, does anyone have any recommendations for insurance carriers that are local to Houston or Texas that you have had good luck/great rates/decent coverage? Thank you so much!

[Charley C.]

It will cost you a 1/3 more but get a liability rider.. the day you don’t you will regret it. 

Ask you agent will your policy cover somebody hurting their back throwing away a couch left behind by your tenants ?

You will be supposed to know that no insurance covers people getting robbed and raped. Sadly, our legal system and politicians in our state are not there for us, just there for lawyers and insurance  companies