The reason that this is such risky business is that because you – as the home owner have insurance and your renter does not, you are now responsible for them.  The reason is because they are under your home and under your roof.  A lot of landlords nowadays are not even allowing their tenants to rent without renter’s insurance.

This should certainly be your policy as well, as they can definitely sue you for the damages that they reap if they do injure themselves.  For my fall … I am fine, I am not going to sue but from now on – I am going to ensure that I get renters insurance so things like this are covered.

Stats have shown that over 58% of renter’s do not have insurance … that needs to change and it all starts with you!

In this blog, we have talked a lot about real estate and the market itself and we have also given you tips and tricks as a real estate agent as well as a buyer or renter.  With that being said, we are now going to talk about something very, very important … home insurance.

If you are a landlord and you are renting out to someone either a room or even an entire apartment, you might want to ensure that they do have renter’s insurance.  This can actually really harm you if they do not have renter’s insurance.

Recently … as of Sunday actually, I fell down the stairs of my rental home.  Now – I personally do not have renter’s insurance.  If I wanted to, because I am not covered and the landlords are – I can actually sue them because I fell down the stairs.  Now … I am not going to do that because I am fine, but what would happen if you weren’t fine?  More on this in the next blog!

Now that we have talked about how you should locate your vacation property, the next step is going to be actually looking for one.  The destination is obviously going to be the most important thing; after all, you are probably going to be spending a lot of time there.

Costa Rica is definitely one of the top vacation investment property places however, you do not have to go there – you can find your dream vacation home really anywhere!

After you have picked the destination, you next want to find yourself a mortgage broker as well as a real estate agent.  Agent first then mortgage broker.  The real estate agent will actually take you around to all sorts of different properties and help you pick out a home that matches all of your specifications, so you will not have to worry about hunting down a property that fits everything that you are looking for!

Money Supermarket, http://www.moneysupermarket.com/insurance/ is a great site to start with. In one search you will have sixty insurance company quotes to compare. Among the insurance companies that are included are AA Insurance, Barclays, Budget, e-sure, Legal & General, More Than, Norwich Union Direct, Sainsbury’s Bank, Saga, Zurich and many more. If you would rather reach them by phone you can call 0845 345 5708 (lines are open Monday to Friday 9.00 to 5.30).

Halifax, http://www.halifax.co.uk/insurance/homeandcontents.asp, has a great website that just takes minutes to get quotes also. They claim to have cheaper rates and also offer some online discounts. If you prefer to talk by phone please call 0800 169 9361 (Monday -Friday 8am-8pm, Saturday 8am-5pm).

Direct Line, http://www.directline.com/, offers discounts on your homeowners insurance if you also combine car insurance. They claim to make a good deal even better. They can be reached at 0845 246 3564 on 8am-8pm Monday to Friday, 9am-5pm Saturday and 10am-5pm Sunday.

Challenge Churchill, http://www.churchill.com/, is another one that is competing for your business. They claim to give you new home insurance customers 35% discount. They can reached at 0800 200 326 8am-9pm weekdays, 9am-5pm Saturdays and Bank Holidays, and 10am-5pm Sundays.

If after checking these out you still want more home insurance quotes you can type in where to find free home insurance quotes and you will get a lot of different results. It is very easy to find a quote to fit your personal needs and your budget.