Adding an “in-law" apartment is a common practice in a home where the residents do not need to utilize all the space for just themselves. Sometimes this apartment is occupied by an actual relative of the homeowner. Other times, it is rented out to help offset some of the costs of operating the home.
In both cases, it is a good idea to talk with your insurance agent at Assure-Us in Miami Beach, FL, to make sure you have the correct home insurance coverage that is adequate to protect the new configuration and use of your home.
When the use of home changes, especially if a portion of the home will be rented out, it is important to talk this situation over with your insurance agent.
Here are some things to discuss with your insurance agent:
- What coverage does the existing homeowner’s insurance provider if a new person is using part of the home?
- What is the difference between a relative using part of the home without paying rent and an unrelated person who pays rent for a portion of the home?
- If rent is paid for part of a home, how does this change insurance needs?
- Should the tenant get “renter’s” insurance for their personal property?
- Should the home insurance be upgraded for the replacement costs of the renovations that are made?
- What are the problems with renovations that are made without having a proper building permit?
Luckily, you do not have to know these answers. Just make the effort to discus them with your agent at Assure-Us in Miami Beach, FL. Your agent will guide you to make sure your home insurance coverage is adequate and make suggestions about what might need to be added to the coverage and possibly what other coverage should be in place.
If you are planning to add an in-law apartment go ahead and contact your agent at Assure-Us in Miami Beach, FL, today, in order to get everything properly organized in advance.