Does cost of property insurance change based on use of the property? MTR vs. LTR

[Stephanie N.]

I'm moving out of my house hack soon and planning to rent half the units out long term and rent the other half out mid term. I'm going to start gathering investment property quotes this week but wondering if anyone has any guidance on whether the cost varies depending on the type of rental? I'm contemplating if it would be better off in the future to have all long term units or if there's no cost difference for types of rentals. I appreciate any guidance/feedback on this!

[John Mocker]

Owen’s points are correct.  I would add that, as a house hack, you are probably insurers on a homeowners policy.  Just about all homeowners require that the property be owner occupied.  You willl most likely have to change to a dwelling fire policy.   It might be a good time to shop the coverage with several independent agents