Landlords vs homeowners insurance

[Cindy Joseph]

I am looking out to rent out half a duplex. I am living in the other half. Currently located in Indiatlantic FL. Given the age of the home and proximity to the water, the landlord’s insurance we qualify for is not that great. It excludes mold and has a water limit which I’m worried about. Is landlord‘s insurance required? Would I be able to keep our current homeowners policy and then get an umbrella –Would this be enough for liability? What benefits do landlords insurance offer compared to regular home owners? I would have the renters get renters insurance. This is my first attempt at an investment property so would appreciate any help.