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Dwelling Policies
Dwelling policies, sometimes referred to as “landlord insurance” or “DP’s”, are similar to homeowner’s policies except for that fact that they have reduced coverages and are usually used to insure non-owner occupied homes and rental properties. Dwelling policies are very misunderstood by many agents and, more often than not, the agent simply considers the price of the coverage and doesn’t take into account the actual coverages provided or the investor’s personal situation.
Depending upon the state that the property is located in, there are usually three types of dwelling policy coverage forms available, with several additional coverages (a.k.a. endorsements) that may be available. However, most insurance companies only offer the most basic coverage form or type. In addition, each company may modify its on policy coverages so that there is a great deal of difference from one company to the next. It is extremely important when searching for new coverage for your rental properties that your agent explain the options available to you so that you are properly insured for your own situation and needs.
As investors ourselves, we are experts in regards to dwelling coverage and property insurance types and we can help you make the best decision for your specific risks and insurance needs.
Click on the Links Below To Learn More About Each Dwelling Policy Type.
