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Hello, being new to renting, I have a duplex (3 apartment) in an older home and would like to know, what type of insurance is required I have? I have another house next door to it I'm currently having built, soon I'll be living in it. Like to have homeowners on the new house being built for myself and live in it, however, I'm worried with all this hard work I've done with updating the duplex, if needing to have 'commercial' ins. so worried of how much that will be, will I even beable to afford insurance for both houses....wished I'd looked into this before going this far....shoulda'woulda'could'a. So now...what to do and what to get?? I currently have State Farm homeowners on the duplex now which I reside in, later I'll be living in the other house as mentioned, am having built. PLEASE, if someone could advise me of what to do...I'd be most appreciative. Spoke to State Farm ins. agent...complete idiot there. Took an hour just explaining what a duplex is....geeeeez.....afraid of her advising me wrong/paying for something I don't need. Thanks yall.....Connie

I’m not familiar with the term “duplex (3 apt).” A duplex is usually considered as 2 units attached……All you need to do is tell your agent that you want to change the policy from homeowner to rental for the duplex. For the rental you may also want to consider “rent protection” on the policy. Have agent explain benefit. For the new home you will want a home owner policy. You may also want to look for another agent. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with Fed/State/Local and Tax Laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download. A great program at a great price!