Landlord Insurance

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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.
DP-3 dwelling property insurance policy

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.
Landlord insurance guide

Landlord Insurance Guide

Financial experts around the world swear by the heaps of benefits if you choose to invest in income property. Income properties are money-generating properties such as rental apartments, condos, house,s or other commercial properties. If you are planning to invest in a rental property or you have an extra property that you are planning to ... Read more