Glossary
Landlord policy
Insurance for a home you own and rent to tenants, covering the building, lost rent and the owner's liability, but not the tenant's belongings.
Also called: landlord insurance, rental dwelling policy, rental property insurance
A landlord policy insures a house, condo unit or small residential building that you own and rent to someone else. Most are written on a dwelling fire form such as a DP-3, though some insurers sell a landlord package that adds liability and rent coverage. The policy covers the building, other structures and any appliances or furniture you supply. It also pays fair rental value if a covered loss makes the unit unlivable, and it responds to liability for injuries on the property.
It does not cover the tenant's belongings or the tenant's liability. Tenants need their own HO-4 renters policy, and many leases require one. A standard owner-occupied homeowners policy is the wrong tool once you move out, because the insurer expects the home to be your residence, and a loss at an undisclosed rental can lead to a denial.
Say you rent a house for $2,200 a month (hypothetical). A kitchen fire that closes it for four months could mean about $8,800 in covered lost rent, plus the repair. Read the exclusions for vacancy between tenants, theft by tenants and tenant-caused damage, and see whether the policy pays on replacement cost. The landlord insurance guide compares options.
Last reviewed October 10, 2026