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

Landlord Insurance vs. Homeowners Insurance: Why the Difference Matters

Buying a property and renting it to someone else can turn a home into an income-producing asset. That change can also change the insurance risks associated with the property.

A homeowners insurance policy is generally designed around the idea that the policyholder owns and occupies the insured home as a residence. Landlord insurance is designed for a different situation: the owner has a property that is occupied by tenants and is being used to generate rental income.

That distinction is important because the risks are not identical. A landlord may face property damage, tenant-related liability claims, lost rental income, legal expenses, and additional risks associated with maintaining a property that the owner does not occupy.

The National Association of Insurance Commissioners explains that landlord insurance can cover the house, other structures, certain owner-owned property such as appliances, lost rental income when a covered loss makes the property uninhabitable, and some liability protection. It also notes that tenant possessions are not covered by the landlord's policy. 0

Homeowners insurance, meanwhile, typically provides coverage for the dwelling, other structures, personal property, loss of use, personal liability, and medical payments, subject to the policy's terms, exclusions, limits, and deductibles. 1

This difference becomes particularly important when a homeowner decides to move out and rent the property. Simply continuing to pay for the old homeowners policy does not necessarily mean the property remains properly insured for its new use.

What Is Homeowners Insurance?

Homeowners insurance is designed to protect an owner-occupied residence against covered property losses and liability risks.

The exact policy language varies by insurer and state, but a typical homeowners policy can contain several major categories of protection.

Dwelling coverage

Dwelling coverage is designed to protect the physical structure of the insured home against covered causes of loss.

This can include the house itself and certain attached structures, fixtures, built-in appliances, plumbing, electrical systems, and other components specified by the policy.

The amount of dwelling coverage should generally be based on the estimated cost to rebuild the home after a covered loss rather than simply its market value.

Market value and rebuilding cost are not necessarily the same thing. Land value, local real estate demand, construction labor, materials, demolition, debris removal, building codes, and other factors can cause significant differences.

Other structures

Homeowners policies commonly provide coverage for certain structures that are separate from the main house, such as detached garages, sheds, fences, or similar structures, subject to policy limits and exclusions.

Personal property

Homeowners insurance can also cover the owner's personal belongings, such as furniture, clothing, electronics, appliances, and other property, subject to the policy's coverage terms and limits.

Valuable items such as jewelry, collectibles, artwork, or certain high-value electronics may have special limits, meaning additional coverage may be appropriate.

Loss of use

If a covered loss makes the insured home uninhabitable, homeowners insurance may provide additional living expense coverage according to the policy.

This can help with certain additional expenses incurred while the home is being repaired or rebuilt.

Personal liability

Homeowners insurance can provide personal liability protection when the insured is legally responsible for covered bodily injury or property damage to another person.

Liability coverage can be particularly important because a lawsuit can create costs that are far larger than the physical damage to a home.

Medical payments

Many homeowners policies also contain medical payments coverage for certain medical expenses associated with people injured on the property, subject to policy terms.

The NAIC notes that homeowners policies typically include dwelling, other structures, personal property, loss of use, personal liability, and medical payments coverage, although exact terms and limits vary. 2

What Is Landlord Insurance?

Landlord insurance is property insurance designed for owners who rent residential property to tenants.

It is sometimes referred to as rental property insurance or, in some contexts, a dwelling fire policy. The exact policy type depends on the insurer, property, occupancy arrangement, and applicable state rules.

The fundamental difference is that the owner is not simply occupying the property as a personal residence. The property is being used as a rental asset.

Because tenants live on the property, the landlord's risk profile changes. The landlord may not control how tenants use every part of the property, but the landlord remains responsible for maintaining the building and managing the risks associated with ownership.

The NAIC states that landlord insurance can cover the house itself, other structures, certain owner-owned possessions left for tenant use, lost rental income following covered damage, and some liability protection. 3

Building coverage

The main structure is usually one of the most important components of landlord insurance.

The goal is generally to protect the physical rental property against covered causes of loss, subject to deductibles, exclusions, limits, conditions, and endorsements.

Other structures

Depending on the policy, structures such as detached garages, sheds, fences, or other structures may also be covered.

Landlord-owned contents

A landlord may leave certain property at a rental home for tenant use. Examples can include appliances, furniture in a furnished rental, or other owner-owned items.

Depending on the policy, those items may receive coverage.

Loss of rental income

This is one of the most important differences for property investors.

Suppose a rental property suffers a covered fire and becomes uninhabitable. The tenant must leave while repairs are completed.

The landlord could lose rental income during the repair period.

A landlord policy may include coverage for lost rental income or fair rental value following a covered loss, subject to policy terms and limits. 4

Landlord liability

Landlord liability coverage can help protect the property owner against certain claims involving bodily injury or property damage for which the landlord is legally responsible.

The exact coverage depends on the policy, but liability is particularly important for rental property because tenants, guests, contractors, delivery workers, and other people may regularly be present.

Landlord Insurance vs. Homeowners Insurance: Side-by-Side Comparison

Why You Should Not Assume Your Homeowners Policy Covers a Rental Property

One of the most important mistakes a new landlord can make is assuming that the policy that protected the property while they lived there automatically protects the property after they move out and rent it.

Insurance policies are contracts. The insurer assesses risk based partly on how the property is occupied and used.

Owner occupancy and tenant occupancy are not necessarily treated as the same risk.

When a property changes from an owner-occupied home to a rental property, the owner should notify the insurer and ask what policy or endorsement is required.

Failing to disclose a material change in property use can create serious problems if a claim occurs.

The exact consequences of using an inappropriate policy depend on the policy language, the circumstances of the loss, state law, and the insurer's underwriting rules.

Why Rental Properties Have Different Insurance Risks

The physical building may be identical to the house you lived in last year. What changes is the risk environment.

1. The owner does not occupy the property

When the owner lives in the property, problems can often be discovered quickly.

A leaking pipe, broken furnace, electrical problem, or roof issue may be noticed immediately.

A landlord who lives elsewhere may depend on tenants, property managers, neighbors, contractors, or inspection systems to identify problems.

2. Tenants and their guests create additional liability exposure

Rental properties have regular occupants and visitors who are not the property owner.

If someone is injured because of a condition for which the landlord is legally responsible, the landlord could face a liability claim.

3. Rental income becomes financially important

A homeowner may temporarily lose the use of a property after a covered disaster.

A landlord can lose something additional: rental income.

If a property normally produces $2,000 per month in rent and a covered event makes it uninhabitable for four months, the gross rental income at risk could be $8,000 before considering other factors.

Whether an insurance policy would reimburse that amount depends on the specific coverage, limits, exclusions, documentation, and circumstances.

4. The tenant's belongings are separate

A tenant's furniture, clothing, electronics, computers, and other personal belongings generally belong under the tenant's own renters insurance, not the landlord's property insurance.

The NAIC specifically notes that landlord insurance does not cover tenant possessions. 5

Does Landlord Insurance Cover the Tenant's Belongings?

Generally, no.

This distinction is critical because landlords and tenants insure different interests.

The landlord owns the building and may own appliances or furniture supplied with the rental.

The tenant owns personal property brought into the property.

If a tenant's laptop, clothing, furniture, television, or other belongings are destroyed by a covered event, the tenant generally needs renters insurance to protect those belongings.

A landlord should not assume that their property insurance will replace the tenant's personal property.

The NAIC similarly explains that a landlord's insurance covers the building but does not extend to the tenant's personal property. 6

What Does Landlord Insurance Usually Cover?

The exact coverage depends on the policy, but landlord insurance can contain several important categories.

Dwelling or building coverage

This is generally the core of the policy.

It protects the physical rental property against covered losses according to the policy.

Other structures

Detached structures may receive coverage depending on the policy.

This can be important for rental properties with detached garages, sheds, fences, or other structures.

Landlord-owned contents

If the rental is furnished or contains owner-provided appliances, some landlord-owned property may be covered.

Do not assume every item on the property automatically qualifies. The policy should be reviewed to determine what contents are covered and under which circumstances.

Loss of rental income

Some landlord policies can reimburse lost rental income when a covered event makes the rental property uninhabitable.

This coverage can be extremely important for investors because the property may have mortgage payments, taxes, utilities, maintenance expenses, and other ongoing obligations even while rental income stops.

Liability

Landlord liability coverage can provide protection against certain claims involving injuries or property damage for which the landlord is legally responsible.

Legal defense

Depending on the policy, liability coverage can also include defense costs associated with covered claims.

Coverage for legal defense should never be assumed without reviewing the policy.

What Does Landlord Insurance Usually Not Cover?

Understanding exclusions can be just as important as understanding covered events.

Insurance policies typically contain exclusions, conditions, deductibles, limits, and definitions that determine whether a particular claim is covered.

Tenant personal property

As explained above, the tenant's belongings generally require renters insurance.

Normal wear and tear

Insurance is generally not designed to pay for ordinary aging, deterioration, or routine maintenance.

A landlord should budget separately for maintenance, repairs, replacement of aging appliances, painting, landscaping, and other normal ownership expenses.

Intentional damage

Intentional acts can be excluded or treated differently under the policy. The precise rules depend on the circumstances and policy language.

Flood

Standard homeowners policies commonly exclude flood, and landlord property policies can have similar limitations.

If the property has flood exposure, separate flood insurance or another appropriate flood solution may need to be considered.

The NAIC notes that flood is typically excluded from homeowners and renters policies and may require separate coverage. 7

Earthquake

Earthquake damage may also be excluded from standard property policies, depending on the policy and location.

Separate earthquake insurance or an endorsement may be available.

Certain business activities

A property used for business purposes can create coverage issues depending on the policy.

Short-term rental activity is a particularly important example.

Long-Term Rental vs. Short-Term Rental Insurance

Not every rental is the same.

A property leased to one tenant for a year presents a different insurance situation from a property rented to different guests every few nights.

Long-term rental

A traditional long-term rental generally involves a tenant occupying the property under a lease for an extended period.

A landlord policy may be structured specifically for this arrangement.

Short-term rental

A short-term rental can involve frequent turnover, transient occupants, cleaning between guests, platform bookings, and potentially different liability exposures.

A standard homeowners policy may exclude or limit business or rental activity depending on the policy.

The NAIC warns that homeowners policies may not adequately cover home-sharing activity and recommends discussing the activity with the insurer. It identifies landlord insurance as one possible coverage approach in some situations. 8

Do You Need Special Insurance for Airbnb or Other Short-Term Rentals?

Potentially.

Short-term rental activity can create risks that are different from a conventional owner-occupied home or long-term rental.

If guests pay to stay at the property, the activity may be treated differently under the insurance contract than allowing friends or family to stay there.

The NAIC notes that homeowners policies can exclude or limit business activities and may provide limited protection for paying guests. 9

Depending on the insurer and jurisdiction, coverage might involve:

• A dedicated short-term rental policy.
• A landlord policy designed to permit the relevant rental activity.
• A homeowners policy endorsement.
• Specialized home-sharing coverage.
• Another commercial or specialty insurance arrangement.

The correct approach depends on how often the property is rented, how it is advertised, the number of guests, the type of property, the insurer, and local rules.

Landlord Liability Insurance: Why It Matters

Property damage is only one part of the risk of owning a rental property. Liability can be much more financially significant.

Consider a tenant who slips on a damaged stairway and suffers a serious injury.

The landlord could potentially face a claim alleging that the property was inadequately maintained.

Another example is a dangerous electrical condition that contributes to a fire or injury.

Liability insurance may help with covered claims for which the landlord is legally responsible, subject to the policy's limits, exclusions, conditions, and applicable law.

Common landlord liability exposures

• Slip-and-fall accidents.
• Unsafe stairs or railings.
• Property maintenance problems.
• Swimming pool accidents.
• Injuries involving certain animals.
• Falling objects or unsafe structures.
• Claims involving guests of tenants.
• Damage allegedly caused by unsafe property conditions.

Not every claim will be covered. Liability insurance does not eliminate the landlord's responsibility to maintain the property safely.

How Loss of Rental Income Coverage Works

Rental income is often the reason an investor buys the property in the first place.

But rental income can disappear if a covered event makes the property uninhabitable.

Imagine a rental property produces $2,500 per month.

A covered fire damages the kitchen and multiple rooms. The tenant must temporarily move out while repairs take place.

The landlord still has expenses such as:

• Mortgage payments.
• Property taxes.
• Insurance premiums.
• Utilities or minimum service charges.
• Property management expenses.
• Other ownership costs.

At the same time, the rent may stop.

If the policy includes appropriate loss-of-rental-income coverage, the insurer may reimburse eligible lost rental income resulting from a covered loss, subject to the policy's limits and conditions.

This is why investors should not look only at building coverage when comparing landlord policies.

What Happens If a Rental Property Is Vacant?

A vacant property creates another important insurance issue.

There is a difference between a property being temporarily unoccupied and being considered vacant under an insurance policy.

Definitions vary, but insurers may treat prolonged vacancy differently from ordinary temporary absence.

A vacant property may have increased risks because problems can remain undiscovered for longer.

Examples include:

• Water leaks that are not discovered quickly.
• Vandalism.
• Theft.
• Weather-related damage.
• Frozen pipes in applicable climates.
• Unauthorized occupancy.
• Maintenance problems.

The NAIC warns that vacant or unoccupied homes can leave owners exposed to losses or liability that may not be covered by a standard homeowners policy. 10

If a property will be empty for an extended period, contact the insurer before the vacancy occurs.

What If You Live in One Unit and Rent Out Another?

Not every rental property is a completely separate investment property.

Some owners live in one portion of a property and rent out another. Duplexes, triplexes, accessory dwelling units, basement apartments, and other arrangements can create mixed-use occupancy.

The insurance treatment depends on the property and policy.

The key point is that you should tell the insurer exactly how the building is occupied.

Do not simply describe a multi-unit property as an ordinary single-family owner-occupied home if part of the property is regularly rented.

The insurer may offer an endorsement, a specific homeowners form, a dwelling policy, or another policy structure depending on the circumstances.

Does Your Mortgage Affect the Insurance You Need?

Yes, potentially.

Mortgage lenders commonly require property insurance because the property secures the loan.

But satisfying the lender's insurance requirement does not necessarily mean you have the exact coverage you need as an investor.

A landlord should consider the lender's requirements alongside the actual use of the property and the risks they want to insure.

If the property changes from owner-occupied to rental use, notify both the insurer and, where required, the lender.

How Much Does Landlord Insurance Cost?

There is no universal landlord insurance price because premiums depend on the property, location, coverage limits, deductible, claims history, construction characteristics, occupancy, rental arrangement, and insurer.

The NAIC states that landlord insurance can cost approximately 10% to 25% more annually than a homeowners policy, although actual pricing varies significantly by property and coverage. 11

That range should therefore be treated as general consumer guidance rather than a quote or guaranteed percentage.

Factors that can increase landlord insurance premiums

• High property replacement cost.
• High liability limits.
• Older construction.
• Older plumbing or electrical systems.
• Roof age and condition.
• High-risk geographic location.
• History of insurance claims.
• Swimming pool or other attractive nuisances.
• Multiple units.
• Short-term rental activity.
• Lower deductibles.
• Additional rental-income coverage.

Factors that can reduce premiums

Depending on the insurer and location, discounts may be available for security systems, updated systems, bundling policies, higher deductibles, protective devices, or other risk-management measures.

However, never choose inadequate coverage simply to reduce the premium.

How the Deductible Affects Landlord Insurance

The deductible is the amount you generally pay toward a covered loss before the insurer pays the eligible amount above the deductible.

Suppose a covered claim produces $20,000 in eligible damage and the policy has a $2,500 deductible.

Subject to the policy terms, the insurer could pay the covered amount above the deductible, leaving the landlord responsible for the deductible.

Higher deductibles can reduce premiums, but they also increase the amount the landlord must be prepared to pay after a covered loss.

Investors should therefore choose a deductible that is financially manageable rather than simply selecting the highest deductible available.

Replacement Cost vs. Actual Cash Value for Rental Property

Another important insurance concept is the difference between replacement cost and actual cash value.

Replacement cost

Replacement cost generally refers to the cost of repairing or replacing covered property with materials of similar kind and quality without a deduction for depreciation, subject to the policy's terms.

Actual cash value

Actual cash value generally accounts for depreciation.

The NAIC explains that homeowners policies can use replacement-cost or actual-cash-value approaches and that the policy documents should be reviewed to understand how losses will be calculated. 12

For a landlord, this distinction can have a major effect on the amount received after a covered loss.

For example, consider an older roof that is damaged in a covered event. If the applicable coverage is based on actual cash value, depreciation may substantially reduce the payment.

The investor should therefore understand the valuation method before purchasing the policy.

How Landlord Insurance Claims Work

A landlord should approach a property insurance claim methodically.

Landlord Insurance Does Not Replace Property Maintenance

One of the biggest misunderstandings about property insurance is assuming that insurance is a maintenance program.

It generally is not.

Insurance is designed to protect against covered losses, not ordinary deterioration and predictable maintenance.

A landlord should therefore maintain:

• Roofing systems.
• Plumbing.
• Electrical systems.
• Heating and cooling equipment.
• Stairs and railings.
• Smoke and carbon-monoxide detectors where applicable.
• Locks and security systems.
• Exterior walkways.
• Drainage systems.
• Other safety-critical components.

Good maintenance can also reduce the likelihood of a loss and provide evidence that the landlord took reasonable steps to maintain the property.

Should Landlords Consider Umbrella Liability Insurance?

Some property owners consider umbrella liability insurance when they want liability limits above those provided by their underlying policies.

A personal umbrella can potentially provide additional liability protection above certain underlying insurance limits, subject to the umbrella policy's terms and exclusions.

The NAIC identifies personal umbrella liability as a coverage that can provide additional liability protection above homeowners or renters policy limits. 13

Whether a landlord needs an umbrella policy depends on factors such as the value of the person's assets, number of properties, liability limits, rental activity, and risk tolerance.

Investors with multiple rental properties should discuss their entire liability structure with an insurance professional rather than examining each property in isolation.

What If You Own Multiple Rental Properties?

Investors with multiple properties may have a more complicated insurance structure.

Each property has its own characteristics, but the owner may also have broader liability exposure across the investment portfolio.

Depending on the insurer, it may be possible to insure multiple properties under coordinated policies or commercial arrangements.

The appropriate structure can depend on the number of properties, property types, ownership entities, locations, rental arrangements, and financing.

Investors should also consider how properties are legally owned. If a property is held by an LLC or another entity, the named insured structure should be reviewed carefully.

Does Owning a Rental Property Through an LLC Change Insurance?

It can.

Property investors sometimes place rental properties into LLCs or other legal entities for business, estate-planning, or liability-organization purposes.

The insurance policy should accurately identify the relevant ownership interests and insured parties.

Simply creating an LLC does not automatically create insurance coverage for the LLC.

Investors should tell the insurer how the property is legally owned and ask how the entity should be listed on the policy.

This is particularly important when a mortgage, property manager, trust, LLC, or multiple owners are involved.

Does Hiring a Property Manager Replace Landlord Insurance?

No.

A property manager can help manage the rental property, but hiring one does not automatically transfer the owner's insurance responsibilities.

Property management agreements may allocate responsibilities between the owner and manager, but those contractual arrangements are not a substitute for appropriate insurance.

A landlord should understand:

• Who maintains the property.
• Who handles emergency repairs.
• Who collects rent.
• Who communicates with tenants.
• Who carries liability insurance.
• Whether the manager has professional liability coverage.
• Whether the landlord must be listed as an additional insured.

Landlord Insurance vs. Homeowners Insurance: Real-World Scenarios

Scenario 1: You move out and rent your former home

You purchased a home and lived there for five years. You then move to another city and decide to rent the property to a tenant.

The risk has changed.

Before the tenant moves in, contact your insurer and explain the new occupancy arrangement.

Continuing to treat the property as an owner-occupied home without disclosing the change can create a serious coverage problem.

Scenario 2: A tenant's laptop is stolen

A tenant's laptop is stolen from the rental property.

The landlord's property insurance generally is not intended to replace the tenant's personal belongings.

The tenant should look to their renters insurance if they have coverage.

Scenario 3: A fire makes the property uninhabitable

A covered fire makes the rental property uninhabitable for several months.

Depending on the policy, landlord insurance may provide building coverage and lost rental income coverage.

Scenario 4: You list the property on a short-term rental platform

You previously had a conventional homeowners policy but begin renting the property to paying guests for short stays.

You should immediately discuss the new use with your insurer. A homeowners policy may not provide the coverage you assume applies to paying guests.

Scenario 5: The property sits empty for eight months

You buy a property intending to renovate it before renting it, but construction takes longer than expected.

The property may now be vacant for an extended period.

Contact the insurer and determine whether special vacancy coverage is needed.

Landlord Insurance Checklist for Property Investors

Before purchasing or renewing coverage, work through the following checklist.

How to Buy Landlord Insurance Step by Step

Questions to Ask an Insurance Agent Before Insuring a Rental Property

1. Is this policy specifically designed for rental property?
2. Does the policy permit long-term tenants?
3. Does it permit short-term rentals?
4. What happens if the property becomes vacant?
5. What structures are covered?
6. Are landlord-owned appliances covered?
7. How is rental income protected after a covered loss?
8. What is the maximum loss-of-rent period?
9. What liability limit is included?
10. What exclusions apply to tenant-related claims?
11. Are floods covered?
12. Are earthquakes covered?
13. Are water backups covered?
14. What deductible applies?
15. Is property valued using replacement cost or actual cash value?
16. Are there special requirements for older properties?
17. What happens if I renovate the property?
18. Does the insurer require inspections?
19. Can I add umbrella liability coverage?
20. What should I do if the property becomes vacant?

Common Landlord Insurance Mistakes

Mistake 1: Keeping the old homeowners policy after becoming a landlord

A homeowner may move out and rent the property but forget to update the insurance.

The insurer should be informed about the change in occupancy and use.

Mistake 2: Assuming the tenant's belongings are covered

Landlord insurance generally does not cover the tenant's personal property.

Mistake 3: Ignoring loss of rental income

Building coverage alone may not protect the income stream that makes the property financially viable.

Mistake 4: Forgetting about vacancy

A property between tenants, under renovation, or awaiting sale may create different insurance requirements.

Mistake 5: Assuming short-term rentals are automatically covered

Short-term rental activity should be disclosed and specifically addressed.

Mistake 6: Choosing a deductible without considering cash reserves

A high deductible can reduce premiums but increases the amount you need to fund after a covered loss.

Mistake 7: Underinsuring the building

Property value is not necessarily the same as rebuilding cost.

Mistake 8: Ignoring liability limits

Investors sometimes focus entirely on property damage and overlook the financial consequences of a serious liability claim.

Mistake 9: Assuming insurance covers maintenance

Routine deterioration and maintenance are generally separate from covered accidental losses.

Should Landlords Require Tenants to Have Renters Insurance?

Many landlords choose to require tenants to carry renters insurance, although the legality and exact requirements depend on the lease and applicable state and local rules.

Renters insurance can protect the tenant's belongings and may also provide personal liability protection.

This can help create a clearer division between the landlord's property coverage and the tenant's personal-property/liability coverage.

A landlord should not treat a tenant's renters policy as a replacement for landlord insurance. The two policies protect different interests.

The NAIC notes that a landlord's insurance generally protects the building, while renters insurance protects the tenant's belongings and can provide liability protection. 14

How Landlord Insurance Fits Into a Property Investor's Overall Risk Plan

Insurance is only one part of protecting a rental-property investment.

A comprehensive risk-management approach can also include:

• Proper tenant screening.
• Written leases.
• Regular property inspections.
• Prompt maintenance.
• Smoke and carbon-monoxide detection.
• Secure locks and entrances.
• Documented repair records.
• Emergency maintenance procedures.
• Appropriate liability limits.
• Financial reserves.
• Appropriate legal ownership structure.
• Umbrella liability coverage where appropriate.

Insurance should be viewed as one layer of a broader system rather than a substitute for good property management.

Which Policy Is Appropriate for Different Property Situations?

How Insurance Affects Rental Property Cash Flow

Insurance should be included in the financial analysis of a rental property before purchasing the investment.

An investor calculating expected cash flow might consider:

• Gross monthly rent.
• Vacancy.
• Property taxes.
• Insurance.
• Mortgage payments.
• Property management.
• Maintenance.
• Repairs.
• Utilities paid by the owner.
• Capital expenditures.
• HOA fees where applicable.

A rental property that appears profitable before insurance may have much thinner margins after realistic operating expenses are included.

Investors should therefore obtain an insurance estimate before finalizing the purchase rather than discovering the actual premium after closing.

Review Your Landlord Insurance Every Year

Rental properties change over time.

You might renovate a kitchen, replace the roof, add an accessory dwelling unit, purchase new appliances, increase rent, change tenants, add a pool, begin short-term rentals, or refinance the property.

Each change can potentially affect your insurance needs.

The NAIC recommends reviewing insurance annually to determine whether coverage remains adequate for current circumstances. 15

At renewal, review:

• Dwelling limit.
• Other structures.
• Landlord-owned contents.
• Liability limits.
• Rental-income coverage.
• Deductibles.
• Policy exclusions.
• Flood and earthquake exposure.
• Property improvements.
• Occupancy arrangement.
• Rental income.

Frequently Asked Questions