Homeowners insurance is purchased by a property owner for a dwelling where they live. This may also cover rentals if the owner temporarily rents out the property or rents a portion of it (an outbuilding, floor, or room), provided the homeowner is residing on the property as well.
Landlord insurance is purchased by a property owner for a dwelling that is rented to tenants, and is most common for landlords. It is designed to cover the building structure and contents within the property that are used in service to the rental (like appliances, fireplaces, built-ins, etc.) It usually consists of two parts: property protection (to cover the property itself in the event of damage or loss) and liability protection (to cover injuries suffered on the property and legal costs for any claims made against the property owner). Other coverage may be optional or required depending on the location of the property. Zibo helps you as the landlord understand these details to get the coverage you’re looking for at the right price.
Renters insurance is purchased by the tenant, and is designed to cover their personal property within a rented residence if it is damaged, stolen, or destroyed. It also provides liability protection in the event of legal responsibility if someone else is injured in the rental; this is often combined with guest medical coverage. Additional living expenses coverage is also often included to help the renter pay for additional costs.