What's the difference between homeowners insurance and landlord insurance?

Homeowners insurance covers you for a home that is both owned and occupied by the same person. If you own a home but rent it out to others for a fee, that is when you’d need landlord insurance. Landlord insurance is typically a little more expensive due to the risks and unknowns of a tenant living in the home. It also typically does not cover personal property since the owner would not be occupying the home.