Owners of rental properties should have a landlord insurance policy rather than a homeowners’ insurance policy. A landlord insurance policy will cover the rental property, including fixtures, but will not include the furnishings. It also includes liability insurance. The lease should require the tenant to have a renter’s insurance policy, which would provide coverage for the tenant’s personal property. If the owner is leaving any personal property in the rental, such as a television or other audio visual equipment, the owner may need a rider to the insurance policy for coverage.