Read articles written by Kyle Rasmussen
DP-1 vs DP-2 vs DP-3: Comparison of Policies
If you are a landlord or a homeowner with a vacation home, trying to decipher which dwelling property insurance policy is the best fit for your situation can be difficult. The purpose of this article is to help you gain a better understanding of DP-1, DP-2, and DP-3, the three forms of rental property and vacation home insurance policies, so that you have the knowledge to choose the policy that fits your unique situation the best.
What is a DP-3 Insurance Policy?
DP-3 is an open-peril type of dwelling property insurance policy which is typically used by rental properties, vacation homes, and houses with bad roofs. DP-3 is in many ways similar to standard homeowners policies like HO-3 with a few differences.
What is a DP-2 Insurance Policy?
DP-2 is a type of dwelling property insurance policy. It is typically used by landlords. It provides more coverage than DP-1 plans but less than DP-3 policies.
What is a DP-1 Insurance Policy?
DP-1 is the most basic form of a dwelling property insurance policy. It is a named-peril policy offering minimum protection. It is typically recommended for unoccupied rental properties.
Roof Shapes and Materials for Homeowners Insurance
The roof shape and material it is made of can impact your homeowners insurance premiums. Find out how your roof style fairs with insurance.
Coverage B: Other Structures in Home Insurance Policy
Other structures coverage, also known as detached structures coverage is section B of a homeowners policy. The purpose of this coverage is to protect a homeowner from any damage that occurs to structures on the homeowner’s property other than the home or structures attached to the home.
Medical Payments to Others Coverage F in Home Insurance
Medical payment to others is a standard part of your homeowners insurance policy that will help you pay for small injuries that happen to those who come to visit you on your premises regardless of who may be at fault for the injury. This part of your insurance plan is designed in a way to divert small claims from escalating into large lawsuits.
Does Homeowners Insurance Cover Hail Damage?
Hail damage is the most common claim in America according to the Insurance Information Institute. Hail can cause significant damage to a roof or other parts of homeowners house and other property. A Homeowners policy may or may not cover the homeowner in the event of hail damage. There are a number of nuances that ... Read more
Does Homeowners Insurance Cover Plumbing?
The short answer: In some cases, home insurance does cover plumbing damage and in other cases, it does not. A home’s plumbing is a common system of the house that gets damaged for various reasons. This crucial part of a home can become a major expense to repair in the event of damage. It is ... Read more
Personal Property Coverage C in Homeowners Insurance
Personal property insurance is the third section of a standard home insurance policy. The purpose of this section of coverage is to protect the homeowner’s belongings in the event of damage that is due to a covered peril in the policy.
What Is Dwelling Coverage? Coverage A Explained
Dwelling coverage or Coverage A is the first section of a standard home insurance policy. Dwelling coverage is all about protecting your house and any structures attached to it. Coverage A is the main portion of a home insurance policy and what we typically think of as homeowners insurance.
Does Homeowners Insurance Cover Power Surges?
Like with many other causes of damage, the answer to the question of whether power surges are covered by homeowners insurance is not a simple yes or no. It depends on a number of different factors, making power surges covered in some instances and not covered in others. Key facts What is a power surge? ... Read more