DP-3 and Specialty Homeowners
Good Alternatives to DP-1 and HO-3
Rental and seasonal properties, and homes outside of a preferred age or value, may well be rejected by standard carriers. For these specific risks, we have specific programs that give your customers a policy that fits their circumstances.
| DP-3 | Specialty Homeowners | |
|---|---|---|
| Target Market | Rental or seasonal properties that would normally qualify for coverage by a standard carrier. | Homes not eligible in the standard market due to age or value. Fills the gap between DP-1 and HO-3. |
| Occupancy | Rental - Seasonal | Owner - Seasonal |
| Protection Loss Settlement1 | Comprehensive Replacement cost |
Named peril Actual cash value, upgrade to repair cost or replacement cost2 |
| Dwelling | 80 years or newer for most states Roof 20 years or newer Above average to better condition |
No age restriction Average or better condition, showing proper maintenance |
| Family | Up to four families | Up to two families |
| Value | Varies by state | Varies by state |
| Term | 12 months | 12 months |
| Protection Class | 1 - 10 | 1 -10 |
| Prior Losses or Credit Issues |
Most acceptable | Most acceptable |
| Photos | Not required | Not required |
| Included Coverage1 | Other structures Loss of rent |
Liability, Personal property, Other structures, Loss of use, Vandalism |
| Optional Coverage1 | Liability, Personal property, Vandalism | Earthquake Enhanced coverage |
| Special Note | This program can be a good fit for an insured with cancelled or non-renewed coverage. Program is admitted in most states. |
1All coverages protect up to the policy limits. As you review these program highlights, keep in mind that program availability and coverages may vary by state. The state program manual and policy form present complete details.
2Replacement cost available in some states; repair cost in all states.