Our top pick: USAA home insurance
- Multi-policy discounts
- Easy-to-use mobile app
- ID theft coverage
Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Landlord insurance vs home insurance
Get protection for your home and your rental income.
Home insurance protects your home against damage or accidents. Landlord insurance covers you for the same things, but a comprehensive policy can also protect you against a host of other problems.
What’s the difference between landlord insurance and home insurance?
A typical home insurance policy won’t cover you if you rent the house or apartment out. A landlord policy will cover renters, and it covers everything normal home insurance does along with extra protection for problems unique to landlords.
Like home insurance, landlord insurance covers damage to your building. If you choose to add personal property coverage, it’ll also cover any belongings you keep in the home — but it won’t cover your tenants’ belongings.
What will landlord insurance cover?
Most landlord insurance policies offer protection against:
- Loss of rental income if your home is damaged and you can’t rent it out
- Medical and legal expenses if someone is injured on your property
You may also be able to add on additional coverage for:
- Loss of rental income if a tenant doesn’t pay their rent
- Legal costs for wrongful eviction and unlawful entry lawsuits
- Repair costs if a tenant or someone else vandalizes the property
Features included in landlord insurance vs home insurance
Coverage will vary from policy to policy, and a lot of insurance options are add-ons. But a premium policy can cover:
| Type of damage or loss | Landlord insurance | Home insurance |
|---|---|---|
| Fire | ||
| Storm | ||
| Flood | ||
| Water | ||
| Impact | ||
| Liability for injuries | ||
| Liability for wrongful eviction or unlawful entry | ||
| Loss of rental income | ||
| Malicious damage by tenant |
How to choose the right landlord insurance
As a landlord, there are three areas you need to protect: your building, the belongings that you keep in the building and your rental income from that investment. Here’s how to make sure you have the best landlord coverage:
- Decide what needs to be protected. If you don’t keep much inside the property or if losing its contents won’t break the bank, you may be able to get away with just dwelling coverage.
- Decide what type of dwelling coverage you want. Choose whether you want to insure your building for its replacement cost, which covers repairing or rebuilding the home after a covered event, or its market value, which is what you’d pay to buy it in current market conditions. Market value generally offers less comprehensive coverage, but is also less expensive.
- Read and re-read the exclusions in your policy documents. These are the situations where you won’t be covered. For example, you won’t be covered for floods unless you buy a separate flood insurance policy, and you likely have a cap on liability costs. If you’re not familiar with your policy’s exclusions, it can be easy to overlook a key piece of information.
Compare landlord insurance quotes
Bottom line
If you rent a home or apartment out to tenants, a home insurance policy won’t cover you. Compare landlord insurance policies to find one that offers coverage that fits your needs and budget.
Frequently asked questions about home and landlord insurance
More guides on Finder
-
Where to get an at-home COVID test delivered fast
The quickest options can have testing kits delivered within the hour or shipped next day.
-
CDC-approved COVID-19 tests for international travel
These at-home tests give you results in minutes. See prices and order now to prepare for your next international flight.
-
Compare car insurance in Stockton
Compare car insurance rates and features that serve Stockton.
-
Where to buy the QuickVue at-home rapid COVID test
Find QuickVue in stock and learn what to expect with a kit that offers you two tests for more conclusive results.
-
Where to buy rapid COVID tests online
At-home COVID tests are the fastest way to find out if you have the coronavirus, but availability is limited and prices vary.
-
Walnut life insurance review
Try this life insurance membership with free wellness perks but short life insurance terms.
-
Car insurance in Modesto
These 4 best car insurance picks are a good starting point for shopping around in Modesto.
-
5 best life insurance companies for parents
The 5 best life insurance companies for parents at different stages of life.
-
Car insurance in Bakersfield
Compare top car insurance companies in Bakersfield, plus see why you need extra coverage here.
-
Car insurance in Sacramento
Shop for car insurance in Sacramento with the best coverage, rates, service and local reputation.
Ask an Expert