LANDLORD INSURANCE

Landlord insurance, also known as dwelling fire insurance or rental property insurance, is a type of insurance policy that provides coverage for landlords.

Dwelling fire policies can protect the structure of a home or other building, as well as the contents inside. They can also be used to cover secondary residences, like vacation homes.

DP-1: This type of policy known as a Dwelling Fire 1 covers fire, lightning, and internal explosions and claims are paid on an actual cash value basis (ACV).

DP-2: This type of policy covers the same perils as DP-1, plus additional perils like falling objects, water damage, and collapse. Claim on a DP-2 are usually settled on a replacement cost bases without depreciation.

DP-3: this type of policy covers all perils except those specifically excluded on the policy. Claims are also settled on a Replacement Cost basis without depreciation.