Do I need landlord's insurance if I am doing a lease to own?

Answer by  ChristineD (25)

Yes you do need landlord's insurance on your home if you are leasing it out to someone, whether they are just "leasing" or "leasing to own". Technically, you still own the home and need to protect your investment while the "tenant" lives there. Seek the advice of your insurance agent for further details.

Answer by  tamarawilhite (17883)

No, you do not. Landlord insurance is for your landlord to cover damage that you may cause. You can get renter's insurance as a renter.

Answer by  tamarawilhite (17883)

If you are the landlord, landlord's insurance is a wise investment. The day the tenants miss a payment, they are no longer on the path to ownership.

Answer by  y3636363 (1380)

Well I think you do need the insurance if you are doing a lease to own. If you are not doing a lease to own then you won't need it but otherwise you would.