A homeowners policy doesn't cover a house you rent out

If you rent a house to tenants, a regular homeowners policy usually won't cover it — that policy is written for the home you live in. A landlord policy (also called a dwelling policy) protects the building and your income as an owner. Your tenants' belongings are covered by their own renters policy, not by yours.

What can a landlord policy cover?

• The building — fire, wind, hail and other covered damage
• Lost rent while the property can't be rented after a covered loss
• Liability if a tenant or visitor is hurt and you're found responsible
• Other structures on the property, like a detached garage or a shed

Options vary: some policies only cover specific causes, like fire and wind. Tell us whether the property is vacant, how many units it has and whether it's furnished — it changes which policy fits. If you own several rentals, ask about an umbrella policy.