We are talking today about rental home insurance and the first thing we would tell you is that it’s important to hire an insurance expert when you’re buying coverage for your property. You’ll also want to focus on liability coverage, replacement value and exclusions.

Liability Coverage

When you’re renting your home out to a tenant, avoid taking on someone else’s liability. You don’t want to let the tenant bring any liability to you. For example, don’t rent to anyone with a vicious dog breed. Don’t let anybody do work on your house who doesn’t have insurance. You never want to use an uninsured vendor because that guy pressure cleaning your roof could fall off the roof and injure himself. If he’s not insured and you hired him to work on your property, you’ll be paying his salary for a while.

Rental Home InsuranceReplacement Value

You always want to make sure your insurance covers the replacement value of your home. There is a big difference between the replacement value and coverage in a lesser amount. It isn’t worth gambling, so make sure you buy insurance that includes replacement value coverage.


Every insurance policy is going to have exclusions. For example, a regular policy won’t cover floods and it won’t cover someone getting hurt on a trampoline that you have in the backyard. It excludes home based businesses as well, so if you watch someone else’s children in your house and someone gets hurt, your insurance policy will not cover that and you’ll be carrying that burden on your own.

What you need to remember is that you shouldn’t take on someone else’s liability and you don’t want to gamble by not having replacement value coverage. Always hire an expert. Talk to your insurance agent and take his advice. That’s why you work with him.

If you have any questions about insurance, please contact us at Florida Management & Consulting Group. We’d be happy to tell you more.