Landlord Insurance for the Properties You Own But Don't Live In.
A standard homeowners policy is designed for owner-occupied homes — not rental properties. If you own a home, condo, or multi-unit property that you rent out, you likely need a dwelling fire or landlord insurance policy instead. Saint Moore Insurance Agency helps property investors and landlords find the right rental property insurance, including DP-1, DP-2, and DP-3 policy options.
What Is Dwelling Fire & Landlord Insurance?
Dwelling fire insurance — also called landlord insurance or investment property insurance — is a category of property coverage designed for homes and residential properties that are rented to tenants rather than occupied by the owner. Because standard homeowners policies (HO-3, HO-5) are designed for owner-occupied residences, they typically don't provide adequate coverage for rental properties. Dwelling fire policies fill that gap.
There are three main policy types, each offering a different level of coverage. A DP-1 policy (Basic Form) covers a named list of specific perils — fire, lightning, and a limited set of other causes of loss. A DP-2 policy (Broad Form) expands that list to include additional covered perils. A DP-3 policy (Special Form) is the most comprehensive option, providing open-perils coverage for the structure — meaning it covers all causes of loss except those specifically excluded. Most landlords seeking broad protection choose a DP-3 policy, though the right choice depends on the property, its condition, and the level of risk the owner is comfortable carrying.
Landlord insurance can also include landlord liability coverage, which is generally designed to help protect you if a tenant or visitor is injured on your property and files a claim against you as the property owner. Loss of rental income coverage is another common component, helping replace rental income if a covered loss makes the property temporarily uninhabitable. Whether you own a single rental home or a portfolio of investment properties, contact a Saint Moore Insurance Agency agent to find the right dwelling fire or landlord insurance policy for your situation.
