In a rental property, your investments are always at risk of being damaged. To address this, investors buy landlord insurance to cover risks and potential damage.
You may ask around or you might want to consult with professionals who can give landlord insurance advice. Here are some of the things that you might want to consider before you get landlord insurance:
Most insurers would require that the property should be your primary residence. It covers the physical structure, your personal belongings inside, as well as liability coverage if someone gets hurt on your property.
If you’re going to rent out a substantial portion or the entirety of the property, most insurance companies won’t cover you with just a homeowner’s policy. You’re going to have to get landlord insurance to maintain your coverage.