I Rent Out My Condo. What Insurance Should I Have?
If you’re renting out your condominium unit, you want to make sure that your insurance agent is aware, because there are different types of policies, depending on the status of the unit. If you’re living thereas the unit owner, you may have a unit owner’s policy. Now, if you’re renting it out, you may have a special policy that deals with situations where you’re renting out the property and other people are there. You want to consult with your insurance agent, make sure you have the appropriate policy, so that in the event that there’s an issue or something needs to be claimed that you are able to properly claim those damages and you don’t run into a situation where potentially the insurance company cancels the policy because you didn’t fully disclose that the property was being rented.