Is Landlord Insurance More Expensive Than Homeowners? 
The answer here is `` maybe '' . It really depends upon the situation and the coverage . In general , if you consider the same house and the same coverage , the homeowners coverage will cost you less . let 's start with some terms . In the industry , we usually call landlord insurance either dwelling fire , or a dwelling policy . It points to the difference between this and a homeowners policy . A homeowners policy has 6 coverages : A. Dwelling - the structure B . Other Structures - detached garages , shed 's , pole barns , etc. . C. Personal Property - Your stuff D. Loss of Use - The extra costs you 'll incur if you have to live somewhere while your home is repaired E. Personal Liability - Protects you from being sued F. Medical Payments - Pays for injuries that happen on your property without having to be sued . A Dwelling Policy , in general does n't have any coverage C , Personal Property . As a landlord , you 're worried about the building and your liability . Your tenant 's personal property is their responsibility to insure . Dwelling policies are more complicated to put together than homeowners policies but I 'll leave that discussion for another time . Lets talk about why Dwelling Policy usually costs more than a Homeowners policy . With a homeowners policy the insurance company has a greater sense of security because they only have one entity to worry about , the homeowners and their family . They have a financial interest in keeping their home safe , secure , and in good repair . With a rental property , you may have many different tenants occupy that home and they have no financial interest in the home itself . A tenant is much more likely to let things go that may eventually cause a claim . Additionally , with a homeowners policy , the liability is protecting the insured from others , with a dwelling policy , you 're also being protected from the people that actually occupy the home . Now , one last thing to mention . If you 're renting your home and it 's insured on a homeowners policy , change it now . If there 's a claim on the home and the insurance company finds out it 's being rented , they may refuse to pay your claim . Most homeowners policies require the home to be occupied by the owner for coverage to apply . Find a good agent that knows how this works and how to put this coverage together for your situation . It 's much better to know what your coverage is and make choices rather then to think you have coverage you really do n't 