A dwelling fire policy (DP-3 or DP-1) covers the structure, liability, and lost rent. It does NOT cover tenant belongings, which is why you must require tenants to carry renter's insurance. Cost is typically 15-25% more than a standard homeowner's policy.
Dwelling Fire Policy
DP-3 covers structure, liability, and loss of rent. The standard policy for rentals.
What It Covers
Structure, landlord liability, loss of rent if uninhabitable, and landlord property (appliances).
Vs Homeowner's
Rental insurance excludes tenant belongings and may have different liability limits.
Cost
15-25% more than comparable homeowner's policy due to higher risk.
Tenant Renter's Insurance
Require in lease. Minimum $100,000 liability. Verify proof of coverage annually.