Tenant insurance question,

[Anonymous]

First time landlord, place for rent is a condo townhouse in northern va. The condo townhouse' hoa fee covers exterior against damages. Now my quesrion is, do I have to buy insurance to cover the tenant in case if they got injure? They already waived their rights to buy insurance to cover their valuables.

[Anonymous]

Call you homeowners policy agent and explain. In my experience, the cost of extra liability is offset by removal of contents coverage.

[Anonymous]

you need to change your home owners policy into a landlords policy

[Anonymous]

Anonymous wrote:you need to change your home owners policy into a landlords policy

Will there be any fees? Will the tenant be covered after changing it? Or I still need to pay insurance to cover them? Thx

[Anonymous]

NP here. You, as the landlord, are insuring your property. The tenant must take out a policy if they wish to protect their possessions. Your insurance company will know what you need; just tell them that you are renting the house out to someone.

[Anonymous]

Make sure you have serious liability coverage. $1M minimum.