Whether you plan to AirBnB your condo or sublet it to a long-term renter, you invite a greater degree of liability and risk into your home when you do this, and you’ll need to make sure that you talk to your people at Eichelmann Insurance Agency to ensure that your policy reflects that.
One of the first things you need to know is that if you’re going to be leaving any of your belongings in the home then you will need to make sure that your insurer knows about the change in residency. If this isn’t just a one-time thing, if you’re renting your condo out on a regular basis and treating it like a business, then you may need to move beyond a basic renter’s insurance policy and into a policy designed for landlords. A basic renter’s policy will cover losses to fire and so on, but the concern that insurers have regarding theft is that it’s very easy for your renter to move your sofa or HDTV into a storage unit and claim that it was stolen, so you might not be protected against theft with a basic renters policy.
You’ll want to check with your homeowner’s association before doing anything, of course. They may even have provisions in the HOA policy that makes it easier for you to rent your condo out, but some HOA’s may frown on subletting in general, and you may be putting yourself out in the name of helping renters.
The important thing is simply that you talk with all involved parties before bringing in a tenant. Talk to your HOA, and get on the phone with Eichelmann Insurance Agency to see what sort of coverage you need when renting your condo out.