Landlord insurance minnesota

[Mike O.]

I am looking to purchase a townhouse with a HOA and was wondering if I still need to purchase landlord insurance? I will be renting it out

[Rob Beland]

You need to check with the homeowners association as to what they cover. You will likely need a fire/dwelling policy. Some associations include the "homeowners" policy that covers the structure and you are responsible for the interior meaning from the sheetrock in so that if a pipe bursts and you have to replace flooring you will be covered. It's likely a basic policy only a few hundred dollars/year. If this is a rental you don't need to worry about contents as that will be on the tenant to insure. 

[Travis Sperr]

Yes you still need insurance, it will be pretty inexpensive.