What is the right insurance for room renting my primary residence

[Samir Rachid]

I live in my house and I want to rent 3 rooms. Can you please help decide what insurance i need to have to protect the property. I keep finding different opinion and I am not sure which one is more accurate.

1. Home insurance + impose renter's insurance on  tenants with myself as additional interest and      additional insured (saves money)

2. Look for home insurance that with home sharing policy (may be expensive)

your help is very appreciated 

[John Mocker]

Samir,

Have you asked your agent what your current carrier allows under its guidelines for renting it out and what endorsement(s) would be needed.  Also, have your agent check with their other carriers to see what your options are.  If you are not dealing with an Independent Agent (who represents multiple carriers) you may want to get quotes.  

Kevin's advise to add an umbrella is sound.  You are facing more exposure when you rent out.  Even if they have renters insurance, you will be dragged in to most losses as you are the deep pockets.