Overview

If you’re wondering whether you need to buy landlord insurance coverage or if you can stick with a regular home insurance policy, the answer is pretty simple: most standard home insurance policies don’t cover rental activities, so you’ll probably need landlord insurance. That said, there are some cases where you may be able to stick with a regular home insurance policy — if you’re only renting out a room or suite in your home, for example. But if you’re renting out a separate property or a unit in a building where you don’t currently live, you’ll need landlord insurance. The average cost of landlord insurance may cost more than homeowners insurance but its needed if your renting out your home.