Do I need homeowner's insurance and landlord insurance?

[Richard Pallarino]

Hi everyone,

For my rental property, I am trying to analyze and understand the costs associated with monthly payments in addition to the mortgage. With my rental property, will I need homeowners insurance and landlord insurance? Or is it just landlord insurance that covers the home, since it is classified as an investment property? I appreciate any and all feedback, as insurance is an area that is foreign to me.

Thanks,

Rich