A rental Dwelling policy covers damage to the real property, liability coverage and it MAY cover YOUR "Loss of Rents".

They can result in your insurance coverage being dropped.

The best strategy to protect yourself at this point is to have really good insurance coverage.

@Zach GentnerIn order to have an umbrella policy, you must meet a certain threshold of liability coverage first in order for an umbrella to be written and coverage offered.

@Anthony Gayden I would be checking other insurance providers to make sure you have the proper coverage.

With a rental property, you are insuring a business asset - you will choose your coverage (limits) and deductible differently than on your residence and you will not be insuring personal effects (the tenants need to carry their own tenants insurance).Here in the Maritimes, we use A.P.

I agree this needs to be broken down by region, property type, coverage, etc. 

Brother 2 is now suing everybody in sight.Buy the owners coverage.

If you get lucky and you find the name of the title company that did the 1978 and/or 1985 recordings, it is possible that you can order a "Hold Harmless Letter" that can be used to obtain insurance coverage on this issue from your current title company.    

I would buy a home warranty on it now in order to begin coverage now that can be renewed year after year, so that when you move out and it does become a formal rental, long or short term, you'll have coverage for all the house's systems and appliances being used by your tenants.