The insurance company may decide that if a person is only renting out their home for a short time, they are willing to accept the rental as an exception without changing to landlord insurance.
Jane, for instance, decides to go on a trip. The daughter of her best friend will be in town for the summer, but she doesn’t have a place to stay.
Jane thinks of something. She agrees to let her stay in the house in exchange for a small rent because she does not want to leave it empty.
The insurance company needs to be informed in a situation like this.
They might want to know more about Jane’s relationship with the “renters.” It’s possible that the underwriters won’t require Jane to take out a landlord insurance policy if they think this is a unique circumstance.
An insurance company may not require landlord insurance if a home is not intended to be used as a rental in the normal course of its use.
They will evaluate each case individually. They might also modify or restrict coverage by adding a rental endorsement.
