Massachusetts Rental Property Insurance


Rental Property Insurance (sometimes called Dwelling Fire Insurance or DP-3 Insusurance Policy) is a policy designed to protect landlords and investors in the event of damage or loss to a dwelling while it is rented or leased to tenants.

Property owners and landlords need rental insurance to cover special circumstances that a general homeowner’s policy doesn’t cover.

Rental Property Insurance protects Investors and landlords looking to purchase a comprehensive insurance policy tailored to protect their rental properties adequately in the event of a loss.

Protection for Your Rental Property and Real Estate Investment

If you’re an investor or landlord, you need an insurance policy designed to protect your investment. When you rent your property to others, unique situations can arise leaving you with significant losses. Levels of coverage vary, but your policy may cover incidents like property damage caused by tenants, loss of earnings, accident liability, and additional buildings on the property. Whether your investment property is a multi-family home, a single-family home, a condo unit, or an apartment; a dwelling fire insurance policy can provide you the protection you need.



Renter’s Insurance/Dwelling Fire Insurance provides owners and investors with a variety of choices to cover their unique property needs. Further, the coverage you choose may be based on the property you need to protect or the flexibility you need. LoPriore Insurance Agency offers three different policies for Rental Insurance.

Dwelling Fire Basic Form Policy (DP-1)

The DP-1 policy is the most affordable policy and provides only the most basic coverage. Your DP-1 form will list the events covered by this policy explicitly so you’ll have a clear understanding of what’s covered and what isn’t. Thus, in the event of a claim, you will be paid for covered damage minus depreciation (wear and tear that occurs over time).

DP-1 coverage includes:

  • Fire & Lightning
  • Smoke
  • Windstorm and hail
  • Aircraft
  • Vehicles
  • Explosion
  • Vandalism
  • Volcanic Explosion
  • Riot
  • Reimbursement of rental income up to 12 months when a covered event makes the dwelling unfit to rent.

Dwelling Fire Broad Form Policy (DP-2)

The DP-2 policy is similar to the DP-1 policy but provides broader coverage. Covered events are listed on the policy for clarity, including additional events not covered by the basic form. Reimbursement for DP-2 generally provides current replacement costs without considering depreciation.

DP-2 coverage includes the same coverage as the basic policy with these additions:

  • Collapse
  • Burglary Damage
  • Glass Breakage
  • Falling objects
  • Frozen Pipes
  • Accidental water overflow
  • Weight of Ice and Snow
  • Electrical Damage

Dwelling Fire Special Form Policy (DP-3)

The DP-3 policy provides the most extensive coverage for investment landowners and landlords. In fact, this form covers a broad range of events. Instead of listing covered perils, the DP-3 policy covers all events except for those explicitly excluded on the form. Reimbursement for a claim with the DP-3 is similar to the DP-2, providing current replacement costs without depreciation.

DP-3 coverage includes coverage for most risks. In fact, exclusions include:

  • Ordinance or Law
  • Nuclear Hazard
  • Flood/water damage
  • Earth Movement
  • Neglect
  • Power Failure
  • War
  • Governmental Action
  • Intentional Loss
  • Mold

At LoPriore, our motto is insurance that fits your lifestyle. That’s why we include additional choices to fit your unique needs.Thus, if the standard coverage supplied by your chosen policy is insufficient for your needs, you can purchase additional optional coverage to support your policy. Additional options include:

  • Earthquake
  • Flood
  • Theft
  • Personal liability and medical coverage for tenants or visitors in the event they’re injured on the property

While a broad form policy usually provides adequate coverage, special circumstances may occur where you need extra protection. If you need rental insurance beyond the typical coverage, you can add an umbrella policy to your dwelling fire policy.

Rental Property Insurance Massachusetts, LoPriore Insurance Agency

FAQ - Rental Property Insurance

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.

Choose LoPriore for Your Rental Insurance and Investment Properties Insurance Needs in Massachusetts

Our expert independent insurance agents at LoPriore are here 24/7 to help you find the insurance policies that best meet your needs. Instead of trying to sell you policies you don’t need, our experts work as trusted agents who listen to your story and supply you with the advice you need to make the right decision for your unique needs.

Rental/fire dwelling insurance costs only a percentage more than the traditional homeowner’s insurance and can offer you confidence and peace of mind if an unexpected emergency arises. A rental property is a financial investment and an important part of your income. When disaster strikes, rental insurance ensures covers your investments. Click below to get an instant quote and start protecting your rental property today.

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    LoPriore Insurance Agency
    LoPriore Insurance Agency
    426 Main Street Suite 2
    Stoneham, MA 02180-2650
    Fax: 781-438-6790
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