Overview
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 and 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.
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You could be liable for tenant injuries or property damage.
How to Update Your Policy?
- Contact Laferla and inform us of the change.
- We will update your Home Insurance to Landlord Insurance.
- Choose the right coverage options for your rental property.
For more details or to request a quote, contact our support on info@laferla.com.mt to submit a ticket