Dwelling & Fire Insurance DP-3
Rental Property Insurance
What is it
Rental Property Insurance or also known as Dwelling Fire Insurance policy gives a landlord or investor the insurance protection it needs to cover their rental investment property that is rented or leased to others.
Who needs it
Investors and landlords seeking to purchase a comprehensive insurance policy tailored to protect their rental properties properly in the event of a loss.
We’re Here to Make Sense of it for You
There are many choices to make when insuring your investment property. We offer a Dwelling Fire Special Form Policy (DP-3) which protects your dwelling, and other buildings such as sheds and garages, from “all risks” unless specifically excluded. We also have a our Dwelling Fire Broad Form Policy (DP-2) to protect your property from losses specifically listed. Some examples of losses covered under the Broad Form policy are:
- Weight of ice/snow
In addition, if your property is unfit to rent due to a loss, you can receive reimbursement of the value of your lost rental income for up to twelve months.
- Personal liability and medical payments to others
Does Landlord Insurance - Rental Property Insurance Cover their tenants' personal contents?
No, the tenant must purchase a separate policy to protect their personal property.
Can landlords purchase contents coverage for items left at property to maintain the premises?
Yes, the Dwelling Fire Policy offers options to purchase this additional coverage for landlord's personal property.
Landlord Insurance offers 3 standard forms of coverage. Which one offers me the most coverage?
When comparing the DP-1 Basic Form, the DP-2 Broad Form and the DP-3 Special Form, the form that offers the most coverage to the landlord or investor would be the DP-3 Special Form.