(Washington, DC) — Commissioner Thomas E. Hampton of the DC Department of Insurance, Securities and Banking (DISB) today warned District residents wanting to cash in on the inauguration festivities by renting their homes, that they may not have full insurance coverage.

“DISB is contacting major insurance companies that underwrite homeowners’ insurance to determine how they will adjudicate any claims emerging from rentals during the inauguration,” Commissioner Hampton said. “Most insurance companies may deny claims if the insureds do not notify the insurance companies of risk changes in advance.”

DISB issued this warning in light of the number of DC residents seeking to take advantage of the estimated three-to-four million visitors heading to the District for the historic inauguration of President-elect Barack Obama for the weekend of January 17 to January 20, when he will be inaugurated. Recently, DC Mayor Adrian Fenty temporarily suspended business licensing sanctions on homeowners who want to rent to visitors during that time.

Commissioner Hampton urged residents to contact their insurance providers to find out what coverage may be allowed with renters in the home.

For more information, residents should call DISB at (202) 727-8000.