You move out of your house and decide to rent it instead of selling. Or you buy a duplex as an investment. Either way, the homeowners policy you know is no longer the right one. A home you rent to tenants needs landlord insurance, which is also called investment property insurance.
The short version:
- Homeowners insurance is written for the home you live in.
- Once tenants move in, you need a landlord policy.
- It covers the building, your liability as the owner and the rent you lose after a covered loss.
- It does not cover your tenant’s belongings.
- MIS Insurance covers everything from 1 to 4 unit rentals to commercial buildings up to 60 units, starting as low as $75 a month. Prices vary.
How the two policies differ
| Homeowners insurance | Landlord insurance | |
|---|---|---|
| Who lives there | You | Your tenants |
| The building | Covered | Covered |
| Belongings | Yours, throughout the home | Only what you provide, such as appliances |
| If the home cannot be lived in | Pays your extra living costs | Replaces the rent you lose |
| Liability | For you and your household | For you as the property owner |
Most homeowners policies assume the owner lives in the home. If you rent it out and do not tell your insurer, a claim can be denied. Tell us before tenants move in so there is no gap in your coverage.
What landlord insurance covers
- The building: damage from fire, wind and other covered causes.
- Other structures: detached garages, fences and sheds.
- Landlord liability: injuries on the property that you are held responsible for, plus legal defense costs.
- Loss of rent: rental income you lose while a covered loss is being repaired.
- Your property on site: appliances and furnishings you provide for the tenant.
What it does not cover
- Your tenant’s belongings. Tenants need their own renters insurance, and many landlords require it in the lease.
- Normal wear and tear and routine maintenance.
- Floods and earthquakes, which need separate coverage.
From a single rental to a 60-unit building
A 1 to 4 unit rental is usually written on a residential landlord policy. Larger buildings, up to 60 units, are written on a commercial policy. We handle both, and we will tell you which one fits your property.
Renting by the night or the week on Airbnb or Vrbo is different again. That needs short-term rental insurance.
Watch out for vacancy
Many policies limit coverage when a property sits empty. If your rental will be vacant between tenants or during a remodel, call us first and we will help you stay covered.
How much does landlord insurance cost?
Landlord and investment property insurance from MIS Insurance starts as low as $75 a month. Prices vary. Yours depends on the property’s location, age and size, the number of units, the coverage limits and deductible you choose, and your claims history.
Ways to bring the price down:
- Choose a higher deductible.
- Keep the roof, wiring and plumbing updated.
- Install smoke alarms and other safety devices.
- Let us compare several carriers for you.
Common questions
Is landlord insurance required in California?
California law does not require it, but most mortgage lenders do. Without it, damage and lawsuits come out of your own pocket.
Is investment property insurance the same thing?
Yes. Both names mean coverage for a property you own and rent out instead of living in.
I’ve had claims or my insurance company dropped me. Can you still insure me?
Yes. Even if you have had claims or your insurer dropped you, we can still find you a policy.
I own more than one rental. Can you insure all of them?
Yes. We can insure one property or several, from single homes to buildings with up to 60 units.
Need a quote for a rental property?
Start at our landlord and investment property insurance page, or call 800-726-0640, Monday through Friday, 8 am to 6 pm Pacific. MIS Insurance Services is an independent agency rated 4.9 stars across more than 3,100 Google reviews.
Coverage we can help with
- General liability insurance, as low as $59 a month
- Workers’ compensation insurance, as low as $83 a month
- Commercial auto insurance, as low as $79 a month
- Homeowners insurance, as low as $69 a month, and as low as $175 a month for brush-area homes and homes with claims
- Condo insurance, as low as $79 a month
- Renters insurance, as low as $11 a month
- Landlord and investment property insurance, as low as $75 a month
- Short-term rental insurance, as low as $85 a month
- All property insurance
Prices vary by business, property, location and coverage.
This article is general information, not legal advice. What a policy covers depends on the policy you buy, and California’s rules change. Confirm the details for your own situation with your agent. Last reviewed October 2026.