If you plan on renting out your house, the best way to protect your home is through an insurance policy. That way, if your renters damage your house or if your home is damaged in a qualifying event, your investment will be protected. However, the type of insurance you need depends on your rental set-up and situation. Long Term Rental If you plan on renting your home to the same person or family for an extended period of time, with a lease that lasts 3 or more months, you are going to need a landlord policy.
If you are planning on buying or renting a home in the future, then you might have heard of homeowners insurance. Before you commit to a home, it's a good idea to research your options and figure out what kind of policy would be best for you. Here are some overviews of the most popular types of homeowners insurance: Basic and Special If you plan on owning your home, then these are two of the most popular general insurance policies.