Landlord insurance may cover risks such as building damage, landlord-owned contents, legal liability and, under some policies, loss of rent or tenant-related damage. Cover varies significantly, so check the policy wording for exclusions, excesses, claim limits and requirements such as regular inspections or using a property manager. Standard home insurance may not cover a property being rented to tenants, and failing to tell the insurer about its use could affect a claim. Compare policies carefully and ask the insurer or a licensed insurance professional about cover suited to your circumstances.