More and more Americans are becoming landlords. Between 2006 and 2016 home ownership rates declined while rentals increased. Although the number of households increased by 7.6 million, the number of people who owned their homes remained level.

Typically a homeowners policy doesn’t cover if the homeowner is not living there. Once a house or condo is rented, the insurance company considers it commercial use, which creates a different set of risks and liabilities.