What's the difference between landlord and tenant insurance?

Landlord insurance is the insurance a property owner would have on the physical structure of the place you're living, including any surrounding structures. Landlord insurance also protects the landlord from financial losses and includes personal liability coverage for the owner of the building or home. Renters insurance, on the other hand, protects the tenant, including the stuff you have inside the walls of your landlord's property.

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What does a landlord policy cover?

A landlord insurance policy, or Dwelling Fire policy, differs from a traditional homeowners insurance policy. The landlord policy is special because it covers a structure in which the policyholder doesn't live. A traditional homeowners policy typically won’t cover homes being rented out or any lawsuits incurred due to renting out the property.

While both renters and landlord insurance have some overlapping coverages, the question of landlord insurance vs. renters insurance comes down to who covers what in the event of a covered peril:

Landlord Insurance CoveragesRenters Insurance Coverages
Dwelling coverage on a landlord policy may cover damage to the structure itself.Renters Insurance CoveragesCoverage does not apply to renters.
Personal property coverage may cover property owned by the landlord, such as entryway or patio furniture, up to the policy's limits.Renters Insurance CoveragesPersonal property coverage may cover the cost of repairing or replacing your belongings in the event of a covered peril, up to the policy's limits.
Loss of use coverage may help landlords recuperate some of the lost rental income associated with a covered peril.Renters Insurance CoveragesLoss of use coverage may help tenants with expenses incurred while displaced due to a covered peril.
Personal liability coverage may pay for medical bills if a tenant or a guest of a tenant is injured while on the premises of the landlord's property.Renters Insurance CoveragesPersonal liability coverage may help pay for another party’s injuries or damages if you're deemed liable in a lawsuit.
Coverage does not apply to landlords.Renters Insurance CoveragesMedical payments to others may pay for the medical bills of a guest that is injured, while visiting your apartment up to your policy limits.

Is landlord insurance required?

If the landlord does not own the property outright and pays a mortgage, the lending company will likely require a landlord to carry an insurance policy. But even if it's not required by law, landlord insurance still helps protect a valuable asset and, in some cases, an important source of income.

What does a renters policy cover?

A renters insurance policy may cover your personal belongings damaged or lost in a covered peril, such as theft or fire. Your stuff wouldn't be covered by the landlord's policy, but your renters policy's personal property coverage could help you cover the cost to repair or replace damaged items.

Loss of use coverage could help you with expenses, such as meals and lodging if you have to live somewhere else while your residence is being repaired or rebuilt.

Renters insurance also includes personal liability coverage if you’re responsible for someone else’s injuries or damages, as well as medical payments for guests injured at your residence.

Learn more about what a renters insurance policy covers.

What's the difference between tenant liability insurance vs renters insurance?

Tenant liability insurance and renters insurance are different. Rather, tenant liability insurance is just another term for the "personal liability coverage" inside your renters policy.

How much is landlord insurance vs. renters insurance?

There are many factors that go into determining the rate you pay for renters insurance, including, where you live, the type of structure you’re renting and what coverages you're selecting. However, there are plenty of ways to help you save on your renters insurance, including renters insurance discounts, for just quoting and paying online. Renters insurance is relatively affordable and typically costs much less than a dwelling fire policy for landlords.

Find out more about the cost of renters insurance.

Get a quote to protect your stuff

Remember, as a tenant, the landlord's insurance policy doesn't cover your belongings. A renters policy can help you if your stuff gets damaged or stolen due to a covered loss, such as fire or theft.

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