When you allow renters into your home, you also let in more risk. Renters can damage your property or leave a mess behind, costing you time and money. But who's responsible if a renter damages your property while staying at your place?

While a South Carolina independent insurance agent can help protect you with the right homeowners insurance, we can start by helping to answer this question. So here's a deep dive into who'd be responsible for the property damage in this unique scenario.

Who’s Responsible If Renters Damage My Property?

You as the homeowner would probably file a claim through your homeowners insurance, even though the damage wasn't technically your fault. According to insurance expert Paul Martin, homeowners insurance protects your property from many types of damage renters could cause, but you probably wouldn't be covered if they stole something. Make sure to review your specific homeowners policy with your South Carolina independent insurance agent to see what's covered before renting out your home.

What Does Landlord Insurance Cover?

Landlord insurance in South Carolina provides a lot of important protection for those who rent out their property regularly. The core coverages included in landlord insurance are:

• Property damage to the dwelling: Covers the physical structure of the home or building against many perils like fire and vandalism. 
• Property damage to contents: Covers personal property used by tenants like furniture or appliances like lawnmowers.
• Liability: Covers legal fees and medical expenses if any tenants get injured on your property.

Having the right landlord insurance in place before renting out to any tenants can help protect you both legally and financially. 

What If a Renter Was Hurt?

If a renter got hurt on your property, your liability coverage would help reimburse you for costs related to the incident. The medical expenses the injured tenant incurred after the injury would be covered by your landlord insurance's liability section, if it could be proven that their injury was your fault. If they pressed charges against you and claimed you had unsafe premises, your liability coverage would also pay for legal fees like attorney and court costs.

A tenant could claim that you failed to maintain your property and left something out that they could trip over, or that you neglected to fix a wobbly staircase, which led to their injury. In the case of charges like this, your landlord insurance's liability coverage would be critical. Make sure to talk with a South Carolina independent insurance agent to get equipped with all the coverage you need.

What If the Property Is Uninhabitable for a Few Weeks or Longer?

Your landlord insurance would cover your renters in case of an extreme disaster like a fire in certain ways, such as paying to repair or replace their stuff if it burned up. Your landlord insurance would also protect you from lawsuits filed against you by your renters, and loss of income you might experience if you can't rent out your property while repairs are being made. The renters, however, wouldn't be covered by your insurance as far as finding another place to stay.

If I Run an Airbnb, Do I Need Landlord Insurance?

When you rent out your home on a regular basis for long periods of time, your regular homeowners insurance stops providing coverage for related incidents. You would need a landlord insurance policy if you ran a business similar to an Airbnb. But if it's actually Airbnb you work for, the company provides their own form of landlord insurance, called host damage protection.

Airbnb's host damage protection covers your dwelling and contents for damage caused by your tenants. It also covers cleanup costs if your tenants make a mess, and lost income if you can't rent out your property because of tenant damage. If you're unsure of whether landlord insurance or Airbnb's coverage makes the most sense for you, talk with your South Carolina independent insurance agent.

Does Airbnb Provide Any Financial Protection?

Airbnb also provides another form of coverage called host liability insurance. This protects the homeowner from the following renter liabilities:

So if you run an Airbnb and your tenants got injured on your property, or suffered property damage or theft of their stuff, you'd be protected from any resulting lawsuits with host liability insurance. 

What If My Rental Property Has ATVs and Snowmobiles?

If you have fancy equipment like ATVs and snowmobiles at your rented property that your tenants are allowed to use, you'll want to be sure you also have coverage for that. You'll also want to have your renters sign a contract before they're allowed to use this equipment, just in case anything happens to it. You can buy separate policies like ATV insurance and snowmobile insurance to protect your expensive toys against many disasters like property damage and liability. 

Why Choose a South Carolina Independent Insurance Agent?

South Carolina independent insurance agents simplify the process by shopping and comparing insurance quotes for you. Not only that, but they’ll also cut the jargon and clarify the fine print so you know exactly what you’re getting.

South Carolina independent insurance agents also have access to multiple insurance companies, ultimately finding you the best landlord insurance coverage, accessibility, and competitive pricing while working for you.