Homeowners Insurance (HO-3) vs Landlord Insurance (DP-3)
Home & Property Insurance Types comparison: specs, VersusAnything Score, key differences and a clear recommendation.
General information to help you compare options; not financial, legal or insurance advice. Rules, prices and coverage vary by country, state and provider.
Choosing between Homeowners Insurance (HO-3) and Landlord Insurance (DP-3) comes up constantly, so we ran both through the same 9-row comparison and our category scoring. Homeowners insurance (HO-3 in the US) is the standard policy for owner-occupied houses, covering the structure on an open-perils basis plus belongings, liability and temporary housing. Landlord insurance (DP-3) covers a property you rent out, protecting the structure, landlord-owned contents and liability, and often adding lost rental income after a covered loss.
Quick verdict
The scores are effectively level (17 to 17), so this comes down to fit. homeowners insurance is the better choice for anyone who owns and lives in a detached or semi-detached house; landlord insurance suits owners who rent out a house or unit to tenants.
VersusAnything Score
Scores are calculated from measurable specifications normalised within the home & property insurance types category and weighted by the factors above. Text-only rows (such as chipset or operating system) are explained but not scored. How the score works.
Side-by-side overview
Homeowners Insurance (HO-3)
Homeowners insurance (HO-3 in the US) is the standard policy for owner-occupied houses, covering the structure on an open-perils basis plus belongings, liability and temporary housing.
Best for anyone who owns and lives in a detached or semi-detached house
Landlord Insurance (DP-3)
Landlord insurance (DP-3) covers a property you rent out, protecting the structure, landlord-owned contents and liability, and often adding lost rental income after a covered loss.
Best for owners who rent out a house or unit to tenants
Key differences
- Who it is for: homeowners insurance Owner-occupiers of houses vs landlord insurance Owners of rental properties — a preference, not a scored win
- Covers the building: homeowners insurance Yes, open perils (anything not excluded) vs landlord insurance Yes, open perils — a preference, not a scored win
- Covers your belongings: homeowners insurance Yes, named perils vs landlord insurance Only landlord-owned items (appliances, furnishings) — a preference, not a scored win
- Personal liability included: homeowners insurance Yes vs landlord insurance Yes, as landlord — a preference, not a scored win
- Typical annual cost (US, approx.): homeowners insurance Roughly $2,000-$2,600 per year vs landlord insurance Roughly $2,200-$3,000 per year — a preference, not a scored win
Specification comparison table
| Specification | homeowners insurance | landlord insurance |
|---|---|---|
| Who it is for | Owner-occupiers of houses | Owners of rental properties |
| Covers the building | Yes, open perils (anything not excluded) | Yes, open perils |
| Covers your belongings | Yes, named perils | Only landlord-owned items (appliances, furnishings) |
| Personal liability included | Yes | Yes, as landlord |
| Typical annual cost (US, approx.) | Roughly $2,000-$2,600 per year | Roughly $2,200-$3,000 per year |
| Cost tier (1 = cheapest) | 4 | 4 |
| Who requires it | Mortgage lenders | Mortgage lenders on rental properties |
| Loss of use / temporary housing | Yes | Fair rental value (lost rent) instead |
| Common exclusions | Flood, earthquake, wear and tear, high-value items above sub-limits | Tenants' belongings (they need renters insurance), flood, earthquake, intentional tenant damage in some policies |
Overall: homeowners insurance vs landlord insurance Score: homeowners insurance 17 · landlord insurance 17
The two differ on who it is for (Owner-occupiers of houses against Owners of rental properties), and the policy form must match how you occupy the property. The two differ on covers the building (Yes, open perils (anything not excluded) against Yes, open perils), and building cover is the biggest and most expensive part of any property policy. For covers your belongings, homeowners insurance uses Yes, named perils whereas landlord insurance goes with Only landlord-owned items (appliances, furnishings). This is a preference rather than a scored win: contents cover replaces furniture, electronics and clothing. For personal liability included, homeowners insurance uses Yes whereas landlord insurance goes with Yes, as landlord. This is a preference rather than a scored win: liability pays if someone is hurt on your property or you damage theirs. homeowners insurance: Roughly $2,000-$2,600 per year. landlord insurance: Roughly $2,200-$3,000 per year. Neither is scored, but typical cost shows scale; real quotes depend on location, value and claims history.
Cost tier (1 = cheapest) is identical at 4. The two differ on who requires it (Mortgage lenders against Mortgage lenders on rental properties), and mortgage lenders and landlords often make the policy mandatory. homeowners insurance: Yes. landlord insurance: Fair rental value (lost rent) instead. Neither is scored, but loss-of-use cover pays for a hotel or rental if your home is uninhabitable. For common exclusions, homeowners insurance uses Flood, earthquake, wear and tear, high-value items above sub-limits whereas landlord insurance goes with Tenants' belongings (they need renters insurance), flood, earthquake, intentional tenant damage in some policies. This is a preference rather than a scored win: floods and earthquakes are almost always separate policies.
Pros and cons
homeowners insurance
Pros
- Covers the building on open perils
- Belongings and liability included
- Required by mortgage lenders
Cons
- No scored row lost in this matchup
landlord insurance
Pros
- Covers rented-out property
- Lost rental income option
- Landlord liability
Cons
- No scored row lost in this matchup
Which one should you buy?
Choose Homeowners Insurance (HO-3) for…
Anyone who owns and lives in a detached or semi-detached house. It stands out for covers the building on open perils, belongings and liability included, required by mortgage lenders.
Choose Landlord Insurance (DP-3) for…
Owners who rent out a house or unit to tenants. It stands out for covers rented-out property, lost rental income option, landlord liability.
Final verdict
The scores are effectively level (17 to 17), so this comes down to fit. homeowners insurance is the better choice for anyone who owns and lives in a detached or semi-detached house; landlord insurance suits owners who rent out a house or unit to tenants. The VersusAnything Score is a transparent starting point, not a command; weight the rows you care about and the right answer for you may differ.
Compare with another property insurance policy
Frequently asked questions
Is homeowners insurance better than landlord insurance?
Not overall: they score 17 and 17 on our category weighting, which we treat as level. homeowners insurance is the better fit for anyone who owns and lives in a detached or semi-detached house, and landlord insurance for owners who rent out a house or unit to tenants.
What is the biggest difference between homeowners insurance and landlord insurance?
The largest gap is who it is for: homeowners insurance lists Owner-occupiers of houses while landlord insurance lists Owners of rental properties. The policy form must match how you occupy the property.
Which is cheaper, homeowners insurance or landlord insurance?
They match on cost tier (1 = cheapest) at 4.
Who should choose landlord insurance over homeowners insurance?
landlord insurance is the better fit for owners who rent out a house or unit to tenants. Its strongest points are covers rented-out property, lost rental income option, landlord liability.
Sources
- homeowners insurance: Policy type official (manufacturer)
- landlord insurance: Policy type official (manufacturer)
Specifications last verified: 2026-10-01. Prices are launch or official list prices in US dollars unless stated. See our sources and data policy.