Which is cheaper- homeowner insurance or landlord insurance?

If you are talking about the same house - for example, you own & live in it now & you are looking to move & rent it, then the landlord's policy (also known as a dwelling fire policy) will be more expensive. The homeowners policy includes contents whereas you would have to buy the contents coverage on a landlords policy (if you are renting the house furnished or partially furnished). If you purchase contents coverage, you would have to purchase theft coverage as an endorsement on the policy & it is VERY expensive. The liability portion is probably about double the cost of the liability on a homeowners policy. The contents will also always be actual cash value. The theory is, a tenant is not going to take care of the house as well as the owner, they may not notice or may not care about a small problem to call the landlord, so the small problem can become a bigger problem & may become a claim or may be a larger claim then it would have been if the owner was on premises. More claims are paid on landlords policies than homeowners policies, that is why they cost more. The additional cost can be anywhere from a few hundred dollars more (about 50% more) to 2 to 3 times more, depending on the company, the house, the area the house is in, etc.
The best thing to do is to call your agent that insures the home, ask for quotes to see what it would be if you decide to rent the house. Then, when you find out the difference, consider that in the rent you will charge a potential tenant.
Also, make sure you put in the lease that you require tenants (renters) insurance & get a copy every year, make sure they have at least $500,000 liability. This is protection for them & you (in case they accidentally burn your house down or they have a friend over that gets hurt & sues). A tenants policy is usually under $200 per year, some are under $150 depending on your area & the construction of the house (brick or frame).

You can only get homeowner's insurance if you own the home. If you own a rental property IN ADDITION to a primary residence, you can get landlord insurance to cover the rental property. The cost depends on the value of the homes; usually it's best to buy it in a package with your homeowner's insurance.

Depending on the state laws, you can own a property for rental purposes, this requires a rental dwelling policy or RDP. Typically it is less expensive because you aren't covering contents; however, there is normally a higher deductible too. Contact your agent and get her/his recommendations, and quotes....

Hope this helps!!

do you mean renters insurance?

I don't know what state you are in, but for the most part when you are just insuring the dwelling and not the contents although you should be paying less because is less coverage, it doesnt work that way. The company is taking more risk on the property since you are not there to take care of it. The premiums will be higher.

Not sure what landlord insurance is... But... if you own a large complex it will be more expensive than just a single home.

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