How Do I Insure A 2nd Home I Bought To House My Elderly Parents? 
-- > Normal 0 I suggest a different approach to addressing this situation . The only way you could obtain homeowners coverage on a house you do n't live in is to be less than candid on the application . If a problem occurred , you may find yourself and your parents without any coverage . To be eligible for most homeowners policies , a dwelling must be owner - occupied . The policy only covers the dwelling on the residence premises . If the named insured -LRB- you -RRB- dont reside there , the insurance company could deny your claim . Some insurers however will issue homeowners coverage to an insured -LRB- s -RRB- who has a life estate in a property . You could own the property ; grant a life estate to your parents . They could obtain homeowners policy naming them as insured -LRB- s -RRB- and you ; the owner of the property could be included as an additional named insured for your interest in the dwelling and the personal liability insurance . There is a standard endorsement available for that specific purpose . Your parents would be covered for their personal property , additional living expense and personal liability . You would be covered for damage to the dwelling and liability for injury or damage to others arising out of your ownership of the property . In my opinion , this would be the most practical , effective and economical way to address this kind of a situation . It is probably more common than you think . 