5 Things to Know About Home Insurance & Renting Your House

Are you thinking about renting your home to earn additional income?

Maybe you’re considering entering the real estate investment business. With single-family rental homes in demand across the country, renting your own home after you bought another house could be a great way to get started.

Maybe you go away for two weeks every summer, and you’d rather earn money for your house than leave it unattended or pay someone to house-sit.

Or perhaps you have a second home or travel frequently and want to start renting your home to guests when you’re away through a service like Airbnb or VRBO. If you live in a desirable vacation area like the Hamptons, you can build a second business through home rentals.

But it’s important to be aware of added costs, including home insurance for your rental property.

Here are five things you should know about home insurance and renting your house.