Need an opinion from you guys...

[Krupski]

OK, here's the story. I own a 2 unit house (upper and lower) that I used to rent out to tenants.

Now, my oldest son is living upstairs and he's a full time college student.

My wife thinks he should buy "renter's insurance" because he bought himself quite a bit of furniture and appliances.

My wife thinks that his stuff wouldn't be covered by my homeowners insurance if something (like a fire) happened.

My position is this:

* He doesn't pay rent
* He doesn't have a lease
* I pay his tuition and books
* He pays for his utilities (gas and electric)
* We do not report any rental income for taxes because he doesn't pay rent.
* He's not a "tenant", he simply lives in a different part of my house.

My wife thinks that if something happened (like the house burning down) that his stuff would not be covered.

I asked her "why not? He's simply my son living in a different part of the house."

Of course, I think I'm right (correction I know I'm right) and wifey thinks she's right.

What say you?

-- Roger

[Richard Simmons]

AFAIK he's your son living in your house so if your insurance coverage is adequate it should cover his stuff as well as your's. Just think of the upper level as his bedroom.

[Warthogg]

I would visit with my insurance agent for advice.

Absent that renter's insurance is relatively cheap and son should have it.


Wart

[slamfire51]

I'd say he's covered.
I didn't stay at a Holiday Inn Express last night so I can't answer your question accurately.

Talk to your agent. Be on the safe side.

[Full Otto]

As long as he's in school I'd say you're correct.
If he get's renter's insurance in the event something happened it could open up the question "where's that rental income?" back on you needlessly.

[O.S.O.K.]

This should be evident on your policy but I'd call the agent - they can tell you.

[Mark Ducati]

Roger,

I would think he's covered under your policy as it is your roof... the only thing that might matter is the house's address(es).

Do you have a single 911 address? Or does your home have two separate 911 addresses?

If you have a 911/mailing designation as Apt. A and Apt. B, then that might be a problem.

Why not just call your insurance company?

[jt1793]

I've been in college and renting places for the past 7 years. I have called my parent's insurance agent a few different times and asked about renters insurance. I was told each time that I was covered under my parent's homeowners insurance... :oh:

[Kadmos]

I've been in college and renting places for the past 7 years. I have called my parent's insurance agent a few different times and asked about renters insurance. I was told each time that I was covered under my parent's homeowners insurance... :oh:

Working on a Phd?

That really doesn't sound right that you would be living somewhere else, aside from maybe a dorm and still be covered.

Renters insurance is usually really cheap, I pay all of $11 a month, plus that covers items in my car

[Joey]

As he's not paying rent, has no rental agreement, and is not a tenant, I suspect a renter's policy would be invalid. So yes, he could buy such a policy, watch his stuff go up in smoke, make a claim, and be told the policy is invalid = no payout.

Give your agent a call. By the sound of it you're already paying for coverage for that area of your house under your household policy. But good to have a letter on file confirming that.

[Sidartha]

Roger,

I would think he's covered under your policy as it is your roof... the only thing that might matter is the house's address(es).

Do you have a single 911 address? Or does your home have two separate 911 addresses?

If you have a 911/mailing designation as Apt. A and Apt. B, then that might be a problem.

Why not just call your insurance company?

I agree with this.
Another thing that might make the space upstairs a different address is if it has a separate gas/electric meter.

Otherwise with no lease and no income then no different than your house.
By the way this is all academic unless your son has receipts of all his furniture to show an insurance agent after the fact.
They invented the term "Pics or it didn't happen".

[alismith]

If he's not paying rent, then he's not renting from you.

A different address for his "unit" might make a difference if something were to happen. Check with your agent.

[deth502]

the term "renters insurance" does not necessarily mean theyre renting. renters insurance is easier than saying "insurance for the shit in your house if you dont own your house" he should not be denied any claim dependant on weather or not hes "paying rent". and for that matter, you could say hes cutting your lawn as rent payment.

afa being covered, id agree with the others. your homeowners insurance covers your home, and your property in it. if you have a rental property-and they are listed on the insurance forms as "rental property" nothing inside it will be covered by your homeowners no matter who owned it. if you renting out parts of your house, so your homeowners policy covers all of it, then you should be ok, but like mark said, different address, different story.

now, if the rental property is not insured as a rental property, then if there were tennants there and something did happen, it could end badly for you legally, BUT, then your kids stuff might be covered.

id say just have him get the renters insurance. its dirt fucking cheap. well worth the piece of mind.

[Partisan1983]

I don't understand the 2 unit house thing ?


Do you mean a duplex?


Or is it an In-Law apartment?


...of course It could be a MI thing (where I'm coming from)

[Mark Ducati]

I don't understand the 2 unit house thing ?


Do you mean a duplex?


Or is it an In-Law apartment?


...of course It could be a MI thing (where I'm coming from)

The way he's describing it... I'm envisioning Fonzi living above the Cunningham's.

[Cypher]

Is it metered separately, does it have a different street address and/or mail box?

If it is basically one house I would think he is covered under your policy. In most states if someone is living in a rental unit with no lease it is technically considered a month to month lease. I would ask agent.