Landlord insurance is insurance coverage available to someone who owns a property and rents the property to others. It typically 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).

Today, most mortgage providers require insurance in order for landlords to secure a loan. Even if you own your house outright (i.e., you purchased it in cash without a loan), it’s still a good idea to get landlord insurance and protect yourself against financial loss.