I also require the tenant to have renters insurance with liability coverage for me and them.

Quote from @Brooke Morton: Does anyone have recommendations for condo/HOA insurance?

Licensed and Insured, of course.

Self-insurance is really no insurance.

Also insurance is much cheaper in SC than FL.

Quote from @Mack Tesfa: Looking on recommendation for insurance provider for multifamily in Texas, Hidalgo county ,any experiencethank you   sent a DM if you'd like assistance

Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Quote from @Adam York: Contact your insurance provider and let them know you intend to rent out the home.

We don't rely on insurance, they love to deny.