Do I need to switch my homeowners policy if I rent out my house?

Yes, you must notify your carrier and switch to a landlord dwelling policy.

How long does loss of rents pay after a Georgia fire or storm?

Loss of rents pays from the date of covered damage until repairs finish or the policy time or dollar limit is reached, whichever comes first.

What do we use Steadily Insurance for in Georgia?

Steadily Insurance is a non-admitted excess and surplus lines carrier specializing in landlord and short-term rental insurance.

What does loss of rents coverage do on a landlord policy?

Loss of rents coverage pays the rental income you would have collected while your property is being repaired after a covered loss.

What does a Georgia landlord insurance policy actually cover?

A landlord policy covers the dwelling structure, other structures on the property, loss of rents, and premises liability.

Landlord FAQs

What is the difference between a landlord policy and homeowners insurance?

All FAQs

Quick answer: A landlord dwelling policy covers your rental property's structure, your liability as the property owner, and loss of rental income.

What is the difference between a landlord policy and a homeowners policy?

The core difference is who lives in the home. A homeowners policy covers a property you occupy yourself. A landlord policy, typically a DP-3 or dwelling policy, is built for a home you rent out to tenants. Because the risks differ, the coverages are built differently. Renting out a home under an HO-3 can give the insurer grounds to deny a claim entirely.

What does a homeowners HO-3 policy cover?

A homeowners policy, often called an HO-3, is designed for an owner-occupant. It covers the structure, your personal belongings inside, your personal liability coverage, and extra living expenses if you are displaced. The policy assumes you and your family live in the home full time, and the rate reflects that occupancy profile.

What does a landlord DP-3 policy cover that an HO-3 does not?

A landlord policy shifts focus from protecting your personal lifestyle to protecting your rental income and investment. Three areas where a DP-3 differs materially from an HO-3:

Personal property: A landlord policy covers little or none of the tenant's belongings. It may cover items you leave on site, such as appliances or lawn equipment. Tenants need their own renters insurance.
Loss of rents: Instead of covering a hotel stay for you, a landlord policy replaces the rental income you lose while a covered repair makes the unit unrentable. This gap does not exist in an HO-3.
Liability: Coverage is tailored to landlord exposures, such as a tenant or visitor injured on the property, rather than personal-use liability scenarios.

Why does occupancy matter so much at claim time?

Misrepresenting occupancy is one of the most common reasons property claims are denied. Filing a claim under an HO-3 on a home rented to tenants gives the insurer grounds to treat it as a material misrepresentation and deny coverage entirely. Accurate occupancy classification belongs at the start of the policy, not just at renewal.

For example, say a kitchen fire makes your Georgia rental house unlivable for three months. A landlord policy pays to repair the structure and reimburses the roughly $4,500 in rent you lose during the repair. An HO-3 would not cover that income loss, and the insurer could deny the structural claim as well because the home is not owner-occupied.

Owners of multi-unit rental properties or larger buildings face additional coverage considerations covered in the guide on Georgia habitational and apartment building insurance.

How do I choose the right policy for my Georgia rental property?

If you live in the home, an HO-3 is the right form. If you rent to others, a DP-3 is the appropriate starting point. Some landlords own properties that fall between these situations, such as a duplex where they occupy one unit and rent the other. That situation requires its own underwriting conversation because neither a standard HO-3 nor a pure DP-3 fits cleanly.

For example, a Georgia investor who converts a former primary residence into a rental sometimes assumes the old HO-3 still applies. It does not. The moment tenant occupancy begins, the occupancy classification changes and the policy must change with it. Leaving the HO-3 in place creates a gap that surfaces only when a claim is denied.

Understanding replacement cost versus actual cash value is another key decision within a landlord policy, since it affects the payout after a major loss. The landlord insurance page covers those options in detail, and a free coverage review matches the right policy form to your specific property situation.