Insurance provider coverage

[Sway Tseng]

Who do you use for insurance carrier when house hacking? Do you carry separate Rental Dwelling Policy? Which carrier do you used for Commercial Umbrella Policy? Thanks in advanced. 

[Kenny Smith]

@Sway Tseng

I use travelers for my house hacks.  You need to clarify with your insurance broker or carrier that you are looking for "home share" coverage or whatever the carrier would like to call it as it seems they all call it something different.  This is specifically for house hacking.  From my understanding of my own policy, this coverage kicks in if anything happened to your property or your tenant involving your tenant.  Without it, I am not sure your liability or dwelling coverage would kick in if a claim involving your tenant transpired.

This is not the same as a landlord policy as a landlord is only valid once you move out and NOT living there.  This policy has additional coverage such as loss of use which can cover loss of rent, putting your tenant up if the property is uninhabitable, etc.

Let me know if you have any other questions!

Best,

Kenny