Home equity and landlord insurance

[Kaushik R.]

The rental (SF) is paid off i.e. I do not have any lien or mortgage on it and there's a tenant.

1. I am currently carrying hazard insurance. I can buy landlord insurance without coverage on roof (wind/named storm peril) but is it worth the premium? It's a 70's build. The insurance quote at 5% wind/storm peril basically meant a new roof would be out of pocket for me.

2. How do I tap into the home's equity without selling?