Rental Property Coverage

[Michael Sarrail]

New to the game and buying my first rental property. SFH in Independence, Missouri
I would like to know what type of coverage you buy for your rentals.

Replacement cost or actual value? High or low deductible? Basic or more? What add-ons if any?

Again, just starting out so please excuse my very basic if not straight up ignorant questions.

Thanks in advance