Thanks guys. Yes, its rent loss insurance. I didnt realize it but its part of the general coverage you can get. So if the place burns down and it takes a year to rebuild, I'll receive the rent income as part of the insurance settlement. As far as price its cheap, as the entire policy is about $10/month. Its a townhouse so the HOA has insurance that covers the main structure. I just need insurance for the interior finishes, applicances, liability etc.
When I bought a townhouse last year it wasnt required. Now it is (both times using Wells Fargo). I guess thats part of their new willingness to lend.
