Do you need special home owner's insurance if you rent to own?

Whenever you inhabit a property, you should purchase a home owner insurance line. If you are strictly renting, you will need a specific renter's line that covers the property in the home but not the home itself. When you own the home, you will also want to ensure that your policy covers the physical building. This can create confusion in a rent-to-own situation, but you should follow the same rules here. While you are renting, obtain a renter's policy. Once you have taken over the home title, obtain a homeowner's policy. This will assure that you are not overpaying for your coverage.