Landlord Insurance vs. Homeowners Insurance: What Property Owners Need to Know

If you are renting out a property, one of the most important questions is whether your current homeowners policy still fits. In many cases, it does not. Landlord insurance is designed for a different use and a different risk profile.

For a basic overview, start with what rental property insurance covers.

Homeowners insurance is built for owner occupancy

Standard homeowners coverage is designed around a property you personally occupy. Once the property becomes tenant-occupied, the exposure changes.

Landlord insurance is built for rental risk

Landlord coverage is generally better aligned with a property being rented out, including dwelling and liability exposures relevant to a rental arrangement.

Final Thoughts

If your property use has changed, your insurance should be reviewed too. Learn more on our rental property insurance page.