DWELLING FIRE INSURANCE (RENTAL HOMES)

If you own rental or investment properties, you need to protect them from a host of potential perils, including fire, lightning, vandalism and theft. If your primary residence is located on the rental or investment property, a homeowners policy would cover you from many of the potential risks. But what if you live somewhere else? A dwelling fire policy may be the type of coverage you need to insure your rental or investment property from damages.

Dwelling Fire Policy Basics

Despite the name, a dwelling fire policy can protect your properties from much more than just fire damage.

The coverage is very similar to a homeowners policy, with one significant difference—a dwelling fire policy is created for a landlord that does not make the property his or her primary residence. If you need to insure a rental or investment property but not the personal property inside, a dwelling fire policy is a smart decision.

To be eligible for a dwelling fire policy, the property generally needs to be one of the following:

  • Single family home
  • One- to four-person family dwelling
  • Older home worth $50,000 or less
  • Vacation, seasonal or second home

Differentiating the Dwelling Policy Types

Just like homeowners policies, there are several different types of dwelling fire coverage. DP-1 is known as the basic form, DP-2 is known as the broad form and DP-3 is known as the special form. Each provides a significantly different level of coverage.

For more information about these different types of dwelling policies please contact us at 850-770-7047 or visit our Resources Page to download a free document about Dwelling Fire Coverage Options.