Do I need additional insurance if I rent out a spare bedroom in my house?

Question

I thought I would ask here first before asking my agent (thus making him aware I planning on doing it) just to see what the answer is likely to be.

I am planning on renting out 1 maybe 2 rooms in my house to some friends. They would be paying rent. Do you need additional insurance or would the standard homeowners policy cover any problems that might arise?

Thanks

Answer 1

As noted by another comment, they should have renter's insurance to cover their possession.

Meanwhile, you should consider an umbrella liability policy. Your current policy should have some liability coverage, but certainly not enough. You can buy $1 million in liability coverage for a couple hundred dollars. Strongly recommended.

Answer 2

They could get Renters Insurance