If your insurance carrier finds out you have illegal bedrooms in the basement that tenants have access to they will likely cancel your coverage.Other investors cross their fingers and hope nothing bad happens.

Note as well, NFIP flood insurance only provides up to $250k in dwelling coverage which may or may not be enough to adequately cover your home--you can also pursue a private carrier which can get you excess coverage over the underlying NFIP 250k max.  

Hi Andrew,I'm an independent agent who represents multiple carriers in the area.

Chris, some insurance carriers may have an issue, but there are many more that do not.  

Welcome here in Biggerpockets World, yeah you are in the right track for your carrier success.You can gain also more knowledge through with the members success stories.

Cell service on an IPad is $30/month.If I were an agent, I'd have 2 mobile hotspots from different carriers - just to make sure I was covered and able to flip documents around.

it depends on the carrier.  

I have had 3 slip and fall claims just this year where the tenant was at fault, but the insurance carrier was forced to pay. 

@Lance Knapp, if you hold the title to the property in your personal name and are living there as your primary residence, then you should be insuring the property with a homeowners policy.If you asked for insurance for a triplex, the insurance carrier would assume you have renters.  

I am just starting out in my new carrier in Real Estate and Real Estate investing.