A: Your home owners’ insurance policy should be changed to a fire & extended coverage policy when you vacate the property. It is important that you inform your insurance company that the property will be tenant occupied. If you fail to change the policy and a claim is made, the insurance company can deny the claim if you fail to disclose this to them. Items that you can add to your policy are called "riders". Your insurance agent/broker will be able to recommend which riders and coverage is best for your situation and property, the following give you an idea of what is available:
(i.e. a burst pipe when the property is vacant can result in excessive damage - with a water rider you will pay a much smaller deductible in the event you need to make a claim).
(With the amount of hail we recently experienced in San Antonio it may be worthwhile having glass coverage, although small windows may be cheaper to replace than the cost of your deductible.)
Loss of Rent
(if the home has some kind of damage that necessitates the tenant vacating while repairs are being made, typically you will not be receiving rent while this is happening - depending upon cost, this may be worthwhile adding to your policy)
Many property owners also consider taking an umbrella policy for additional coverage. Be sure to check with your insurance agent/broker to ensure you take advantage of all their recommendations.