Landlord insurance is a policy for someone who rents out a home they own. This type of insurance typically includes two different types of coverage: property and liability protection. Both coverages are intended to help protect you, the landlord, from financial losses. These include coverage for the dwelling, other structures, such as detached garage or fence and the personal property used to service the rental should you have a covered loss. The liability portion of a landlord insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible.