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Rental insurance is a very wise insurance to have. This can cover loss and damage just like a regular home insurance even though you are only renting.
Other than home owners insurance covering your primary residence where you live and rental property insurance covering a home that you rent to others there are a few differences in types of coverage. While most home owners policies cover the building you live in as well as your contents (TV, Clothes, etc...), most rental property policies cover only the building. This is because in a rental property situation you usually do not own the contents inside and the renters have renters insurance to cover their own contents.
Your home renters insurance will cover you for loss or damage to the property which you own and which is kept within your rental property. Any damage to the actual structure of the building would be covered by the landlord's insurance.
The owner will usually have a policy but if you are a renter, you should have a renters insurance policy to cover your personal belongings.
Of course not. Auto insurance has to cover your car and home insurance covers your home. Damage to you car is always covered under an auto policy. It is specifically excluded under your homeowner's rental policy.
Homeowners policies do not cover damage to motorized vehicles (except lawnmowers, golf carts, off-road vehicles, electric wheelchairs). SOMETIMES there is coverage for boats & their trailers when stored in an enclosed building on the premises.
DP Stands for Dwelling Policy. Usually a DP type policy is used to cover rental properties.
Rental insurance is usually for when you buy an apartment or a condominium. It is also a good idea to buy it with your vacation rental home since you do not know what damages your vacation rental home may undergo, and one day a catastrophe may destroy it. You will want to be insured for that.
Please clarify the type of "rental coverage" that you mean. There is, for example, rental insurance available on rental cars, and rental coverage that one buys on personal belongings when living in a rented home.
Check you policy to determine if you have rental car insurance. Some credit cards also have rental car insurance. http://www.theglobeandmail.com/globe-investor/personal-finance/home-cents/do-you-need-rental-car-insurance/article1994097/
Homeowners Insurance is what you need to cover a home.
No, but the roomer/boarder has no coverage under your policy.