Converting from homeowner to landlord insurance policy

[Salil Surendran]

Just rented out my primary residence and researching insurance coverage. Here is what I have learnt. Please do comment if wrong:

1. If you are not residing in a unit then a homeowner’s insurance will not cover anything. If there is any kind of damage to the house because of a natural cause if you approach the insurance company without a landlord's insurance they will outright deny your claim.
2. If you have a mortgage the bank will insist that you have landlord insurance
3. Tenant has renter's insurance. So if there is any kind of physical harm to the tenant say due to slipping on the stairs etc. the tenants renter insurance will cover the medical cost. It the tenant causes a fire and damages my house and neighboring houses then their renter's insurance will conver all the costs.
4. My HOA has insurance. So if there is a fire due to natural cause, HOA insurance will cover the cost of exterior repair like painting the exterior walls. My landlord insurance will have to cover the costs of fixing the interior like replacing carpet, interior painting etc.
5. I can completely give up on homeowner’s insurance and just buy landlord insurance?