meaning they bought a new house before selling the old one and need to make some extra money. Before you start putting ads in the paper, you need to make sure that you and your old home are covered with real estate insurance in Westchester.
When You Need Real Estate Insurance
If you’ll only be taking in renters a few weeks every year, your homeowners insurance will take care of everything. But if you plan on taking renters for an extended period of time, you’ll want to consider real estate insurance in Westchester. You should check with your insurance company to see if they offer real estate insurance and if they allow short-term rentals, otherwise you may have to go with another insurance company. Real estate insurance covers office buildings, retail shopping centers, private commercial warehouses and service buildings.
Types Of Renters Insurance
There are different names for real estate insurance policies. A DP-1 policy takes care of basic incidents, such as vandalism and fire. DP-2 handles damage sustained from acts of nature and even collision in the event that a car were to hit your house. DP-3 is known as an “open peril” policy. Only in the event that a peril were left out of the policy would it not be covered.
Purchasing real estate insurance in Westchesteris a great way to save money on tenant mishaps and make money by renting your old home.