In Longwood, FL the general rule of thumb is that your home insurance will cover the home, it will cover the building, it will cover your possessions, it will cover the possessions of those who are staying with you on a permanent or temporary basis. But it will not cover the possessions of your tenants. That is to say that if someone is paying you a monthly fee to rent the home, or to rent a room in the home, then the insurance does not cover their possessions in the event of a fire, burglary or other hazard.
For this, they will need to invest in renters insurance. They can do their own research and buy a renters insurance policy to cover their belongings, or you may be able to work something out with your home insurance provider so that they can easily buy renters insurance through the same insurer. But your home insurance policy does not cover a tenant’s possessions.
Many landlords actually choose to require tenants to carry their own renter’s policy. This simplifies the process should claim to need to be filed. You don’t want a tenant to try and hold you responsible in the event that their possessions are lost or damaged. It’s up to you, but it’s not a bad idea to require your tenants to carry their own insurance.
If you have any questions about renters insurance or home insurance in Longwood, FL, or you’re looking to get covered for your own home or a rental property, get in touch with Express Insurance. Express Insurance can help you to get a great policy no matter your home insurance needs.