| Question:
 I would like to turn my home into rental property. Is it necessary that I report to the insurance company that I will not be living in this house?
Answer:
Yes. You will definitely need to alert your current home insurance provider about the risk change. The coverage on a home is usually more expensive. However, you will typically not need as much coverage on the contents of the home, assuming you are taking most of the contents with you when you move. Because of this change, that part of the policy's premium should drop. All in all, most of the time the premium stays relatively the same.
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