Primary residence to Rental

[Erika M.]

Hello

I have an FHA mortgage on my primary residence. I have owned and occupied this single-family home for 2.5 years, and mortgage payments are current etc.

I am relocating soon  (but not purchasing a new property) and I want to rent out my home. Tenants will be required to get renters insurance.

What are my obligations to my lender and insurance co ?

Am I required to refinance?

Should I expect my insurance rates to go up considerably?

Even if not required to refinance, should I consider it, to save $ ? (I purchased at a pretty good rate 3.8)

Thank you for any leads or answers!