Skip to Content

Get a FREE assessment of your rental property. Start here!

Get a FREE assessment of your rental property. Start here!

Quiz: Do I Have the Right Homeowner’s Insurance for My Rental?

We all know we need homeowners insurance for our property but if you are an “accidental or unintended landlord”, meaning you moved and decided to rent your home or you are just new at being a landlord, you may be unfamiliar with the different types of policies available to you.

True or False – Your homeowners insurance company can deny coverage for a loss at your home if it is now a rental property

Answer: TRUE

Make it a priority to look over your homeowners insurance policy because it’s very likely your existing policy doesn’t cut it anymore. Most policies cover owner-occupied homes, and yours no longer qualifies. What does this mean? It means, the insurance company can deny coverage unless you have the proper policy

Many things can happen to a rental property to cause damage.  Pipes can freeze and break, a tree can fall on the house, a sewer can back up or a natural disaster can destroy a home.  As an owner of rental property here in Portland, Oregon, I always carry plenty of insurance on all of my rental properties.  I talk extensively with my insurance agent to insure my properties are covered properly.  Many insurance policies do not cover many events such as floods, sewer back up or acts of terrorism.  Not every property will need every coverage available, but you need to weigh the chances of an event occurring versus how much your insurance will cost. Of course there are various policies to choose from that cover standard losses in addition to equipment breakdown, loss of rental income, and accident liability so make sure to discuss your options with your insurance professional. Taking action now will ensure that your rental is properly covered.

One other word of advice: Make sure your tenants have renters insurance to cover their own personal property.


Dan Hayes


We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.