Homeowners/Landlord Insurance Question

[Luke Carl]

Getting ready to close on our first house. Supposed to go meet with my insurance agent tomorrow. Is it pretty cut and dry? Do I just want basic landlord insurance or are there secrets I need to know? I don't want to leave it in the hands of my agent because I doubt he has rentals of his own I'd like some insider information. 

Please and Thanks 

[Jason Bott]

Lucas Carl ideally, you want the Property policy to have the following,

Replacement Cost, not Actual Cash Value

Special Form, if they don't offer that, then Broad Form. If they only offer Basic coverage, be aware water and theft claims are excluded

No Co-Insurance

Loss of Rents

This is not a complete list, but are generally the most impactful at the time of a claim.