Whats the difference between home insurance and rental insurance?
for my rental property? Is it a good idea to switch home insurance to rental insurance when a tenant is living in my rental property just in case if they smashed some holes on the wall, or some damages on the property?
Thanks!
You need to change or they will not pay if you have a claim.
Holes are not covered, neither is most tenant damage.
But, you still need fire damage, weather, etc etc.
Also, if you are going to allow animals check your policy, they are not likely to cover your property if you allow any dangereous animals.