Personal Insurance
If you own the property and rent it out, this page is for you, not renters insurance.
Coverage for property owners who rent out a home, condo, or unit — distinct from the renters policy your tenant would carry.
No obligation. Starting a review does not change or bind any coverage.
What's going on
If you own a property and rent it to someone else, you need landlord insurance, not a standard homeowners policy and not renters insurance. Renters insurance is for the tenant's belongings and liability; landlord insurance is for you, the owner, and covers the structure, your liability as the property owner, and often lost rental income. If you're renting out a house, condo, or unit anywhere in the Kansas City metro, this is the policy to review.
Why it matters
A standard homeowners policy is built around the assumption that you live in the home. Once you rent it to someone else, that assumption no longer applies, and a homeowners policy may not respond the way you'd expect. A landlord policy is built for a non-owner-occupied property and typically addresses the structure, your liability as the owner, and loss of rental income if the property becomes uninhabitable after a covered loss.
Things worth considering
Points we would talk through with you. Which of them apply depends on your situation, and what you do about them is your decision.
-
Does your current policy still apply once the property is a rental?
Moving out and renting the property to someone else is a change worth reporting. A standard homeowners policy may not respond the way you'd expect once you no longer live there.
-
Does the policy include loss of rental income?
If the property becomes uninhabitable after a covered loss, this addresses the income you'd otherwise lose while it's repaired. It's worth confirming whether your policy includes it.
-
What liability coverage applies to you as the owner?
If a tenant or a visitor is injured on the property, your liability exposure as the owner is different from a tenant's own liability coverage.
-
Are your tenant's belongings covered?
Generally, no. Your tenant's personal property is their own responsibility to insure, which is what renters insurance is for.
-
Do you require your tenant to carry renters insurance?
Some landlords require it as a condition of the lease. It's worth discussing whether that fits your situation.
-
How many units or properties do you rent out?
A single rental home and a multi-unit property may involve different coverage considerations worth discussing separately.
Information on this website is general in nature and is not a complete description of any insurance policy or every coverage option that may be available. Coverage availability, terms, conditions, limits and exclusions vary by insurer, policy and individual circumstances. The issued insurance policy and applicable endorsements control coverage. Beacon Point Insurance Group may provide information regarding available insurance options and discuss coverage considerations based on information you provide, but customers are responsible for selecting the carrier, coverages, limits and deductibles they wish to purchase. No insurance coverage is bound, changed, or canceled through this website unless confirmed by Beacon Point Insurance Group or the applicable insurer.
How this tends to come up
-
Renting out a former primary residence
A homeowner in Independence moved for a job and decided to rent out their previous home rather than sell it. They hadn't updated the policy from a standard homeowners policy, which came up during a review.
-
A landlord assuming the tenant's belongings were covered
A property owner in the Kansas City metro assumed their landlord policy covered their tenant's furniture after a pipe burst. It didn't — that's what the tenant's own renters policy is for, which led to a conversation about requiring renters insurance in future leases.
We Learn. We Compare. We Explain. You Decide.
- 01
We Learn
We ask questions about your situation and the insurance you currently carry.
- 02
We Compare
Based on the information you provide, we can obtain and compare available options from the insurance companies we represent.
- 03
We Explain
We help you understand important differences in coverage, limits, deductibles, policy terms, and price.
- 04
You Decide
You select the company, coverages, limits, deductibles, and options you want to purchase.
What working with us is like
The part people tend to mention is that someone explained it and then let them decide.
More personal coverage
Let's find the options that work for you.
No obligation. Starting a review does not change or bind any coverage.