I’m not sure if I need a homeowners or landlord insurance policy for my property that I rent out. I own it, so I assume I’d need a homeowners policy?
A homeowners policy doesn’t apply for rented out residences as it’s intended for those who live “full-time” there. If you’re renting your residence out, what you should look for is a landlord policy. These policies include things like property damage and liability insurance, but also things like loss of income if your rental property becomes uninhabitable due to a covered loss as well as some optional coverage. These coverage options range from rent guarantee insurance or extended property coverage to things like carpet or furnishings.