The different types of home insurance—which one do you need?

In this guide, we’re breaking down the types of home insurance coverages you’ll need throughout your life—starting as a renter, moving on as a homeowner and then potentially renting out your home or cottage on a short-term basis.

What is tenant insurance?

Ah, the glory days. You’ve either just moved out of your parents’ house or you’ve finished school and are looking forward to your very own space to call home (posters and hand-me down furniture included). At this point in your life, you may not think you own enough stuff to warrant protecting it with insurance. However, when you take a moment to think of all the things in your apartment that have some value—your TV, your computer, clothes, kitchen equipment, etc.—it just wouldn’t feel like your home, if these items were damaged, lost or stolen.

Tenant insurance provides contents coverage protection, which allows for your of your items are replaced at cost value if they are damaged. Additionally, tenant insurance options, like Duuo, offer tenant liability protection (most landlords ask for proof of this when you move into a new space), and cost-of-living expenses (which covers you in the event you can’t stay in your home for some reason).

What is home insurance?

Congratulations! You’ve just bought your first house. It’s probably one of the largest investments you’ll make, and you want to ensure you’re able to keep it protected. Purchasing homeowner insurance is a crucial step to keep your new home and all the items inside of it safe. A standard home insurance policy is designed to provide coverage should your home or any of the contents in your home get damaged. Not to be confused with mortgage insurance or home warranty insurance, homeowner insurance should cover interior or exterior damage, damage to assets in the home, as well as liability coverage in the event someone is injured on your property. Also, you are required by your mortgage lender to have home insurance. They want to make sure the collateral doesn’t go down in flames, quite literally.

What is short-term rental insurance?

You’ve decided to make a little extra money by renting out your home on the weekends, so you’ve joined a rental platform like Airbnb or VRBO and are currently in the process of taking some cute pictures of your space. You already have homeowner insurance, but to ensure you’re properly covered, you’ll need to look into getting short-term rental insurance, too.

Short-term rental coverage goes above and beyond a standard homeowner policy, providing coverage should guests cause damage to your home, or in the event a guest is injured during their stay in your home. Insurance providers like Duuo offer affordable short-term rental coverage that can be purchased on demand, so you only pay for the time you’re renting out your space. After that, you can turn it off.

Get the insurance you need

As we find ourselves in different spaces over time, it’s important to know what kind of home insurance we need in order to keep our space and our stuff protected. We hope this guide helped you find the type of coverage you need right now.


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