Landlord (rental dwelling) insurance covers the property structure and typically loss-of-rent income if the property becomes uninhabitable from a covered event, plus liability protection — but generally does NOT cover the tenant's personal belongings (renters should carry their own renters insurance for that).
Rates depend heavily on location (particularly fire, flood, and hurricane/wind exposure), property age and construction, and coverage limits chosen. This calculator auto-fills an estimated monthly insurance cost from typical regional rates, but always get an actual quote from an insurer before finalizing a purchase, since real premiums can vary significantly from the estimate.