Posted by River City on July 18, 2005 at 07:16:28:
You will need to insure the structure. If you are not renting the property with furniture and appliances, you will not need coverage for the contents, as the people renting the home will obtain this coverage. I would suggest that you contact your homeowner’s insurance agent. Be sure to deduct the value of the land and insure only the replacement value of the structure. If the home is in a flood zone, you will also need flood insurance. If there is a mortgage on the home, your lender can tell you their minimum requirements.