Ho4 Renter for Owner Occupied?

[Milkman1265]

has anyone written a ho4 renter policy for a owner occupied multi family?

for the owner, because of non standard risk, i placed them with nyproperty but they need liability only

the coverage is only for dwelling so can you write a ho4 for their personal property, waterbackup and liability?

i heard statefarm does it like that.

 

[djs]

Just make sure the carrier you write with is okay with it. Everyone I checked with is, but, I wouldn't want it to come back later.

Definitely document why its an HO-4 and what the underlying policy is on the unit. Come claim time, people forget these conversations!!!!

Dan

 

[Soundadvisor]

I'm not sure how many units are in the building but I think you are going to have a coverage problem if you rely on an unendorsed HO-4 to provide liability coverage outside of the unit occupied by the insured.

Liability coverage will apply to the "residence premises" which is defined as the one family dwelling where the insured resides or a two family dwelling where the insured resides in one of the units.

There is also language in the liability exclusions I would not be comfortable with. I would be very cautious.