Asked by Kathleen from Denver, CO
Good question, Kathleen! If you’re leasing out your house, you’re still responsible for protecting it with landlord insurance, a type of homeowner’s plan that covers the dwelling, any other structures on the property such as garages or sheds, and any personal property that remains on-site for renters to use, including tools, appliances and furniture.
Landlord coverage protects your property in its entirety from damage—whether from accident or disaster—and also guards you as the landlord against legal and personal liability in case someone gets killed or injured on your property.
The one item not covered? Your renter’s personal possessions. Encourage tenants to take out renter’s insurance for that, while you insure and protect the grounds and home yourself.
Please note: InsureMe Answers is not intended to be a substitute for advice from a licensed professional. For specific questions about a policy or claim, please contact your insurance agent or company.