Did you know?

Landlord and homeowners insurance policies are not the same
Landlord insurance is specifically for owners who rent out a property that they don’t live in. A good, comprehensive policy will typically cover the value of the dwelling and improvements, along with liability protection and coverage of rental income losses.

The cost of a landlord policy can be more than a homeowners insurance policy, but it offers more coverage that landlords need. Costs vary due to location, size of the rental, level of coverage, etc.

Landlord insurance may be required
Many mortgage companies and lenders may not only require that you have a landlord insurance policy on a rental property, but that you also insure your home for 100% of its replacement cost. This is to protect your lender’s investment in your home.

Make sure you have the right policy. If you have a Homeowners policy instead of a Landlord policy, collecting on a claim for a tenanted rental investment property could be difficult at the time of loss.