Yes! If you convert your home into a rental property, you must inform Laferla, as your standard Home Insurance needs to be upgraded to Landlord Insurance.
🏠 Why Do I Need to Update My Policy?
✔️ Home Insurance is for owner-occupied properties – It may not cover rental-related risks.
✔️ Landlord Insurance provides extra protection, including:
- Loss of rental income if the property becomes uninhabitable.
- Legal liability if a tenant is injured due to a property defect.
- Coverage for theft or damage caused by tenants.
📌 What Happens If I Don’t Update My Policy?
🔹 If a claim arises, your policy may not cover damages since it was issued for a residential (not rental) property.
🔹 You could be liable for tenant injuries or property damage.
📝 How to Update Your Policy?
1️⃣ Contact Laferla and inform us of the change.
2️⃣ We will update your Home Insurance to Landlord Insurance.
3️⃣ Choose the right coverage options for your rental property.
For more details or to request a quote, contact our team today!