House Hack Insurance Policy

[Kevin Chiu]

I'm looking to close on a townhouse later in the month and will be house-hacking it by renting out rooms in the house. 

I've called several agents for quotes but wanted a second, unbiased opinion. What type of insurance do I need to purchase? 

The consensus from the agents that I spoke to was that I would get regular condo insurance, and have my renters get renters insurance. However, one particular agent told me that my condo insurance (or any homeowner's insurance for that matter) does not cover liability for renters, only guests. 

So if one of my renters hurts themselves in my property and decide to sue me, my condo insurance's liability portion would not cover that. Thoughts? 

Thanks, all!

[Kevin Chiu]

Hey @Zachary Yeger. I landed on getting a primary residence insurance policy which covers my stuff and liability for myself only, but with the insurance knowing that I'm renting it out as well. Many insurance carriers didn't accept this type of policy so you'll have to call around. 

Additionally, each renter gets separate renter's insurance which is required on the lease they signed. This covers, among other things, liability for THEIR guests or if there was a break-in and all their stuff was stolen.