Dwelling Special (DP-3)
The right solution for seasonal and rental homes that need comprehensive coverage.
A customer may come to you with a rental or seasonal home that requires the most comprehensive protection available. Our DP-3 program offers true comprehensive protection for short term and occasional rentals, it can even be used to cover temporary vacancies. We offer full replacement cost settlement, personal property coverage and loss of rent. DP-3 insurance will give landlords and property owners true peace of mind.
- Rental or seasonal occupancy (owner occupancy available in some states, Vacant occupancy available in AMsuite states)
- Home up to 80 years of age (60 years in some states)
- Roof up to 20 years of age
- Above average condition or better
- Single family structure up to a four-family
- AMsuite only: Schedule up to 10 homes on one policy
- Title held by Corporation, LLC, Estate or Trust
- No limit on number of policies per customer
- Short-term rentals
- Prior Claims acceptable
- Vacancy Permission Endorsement
- AMsuite only: Water damage – 10% Coverage A with a $5,000 sublimit for mold and remediation
Comprehensive list of causes of loss
Replacement cost settlement – Losses are settled at the replacement cost, up to the policy limit. There is no depreciation deduction.
Loss of rent – Lost rental income is reimbursed if a covered peril causes sufficient damage that the tenant needs to move out and is no longer paying rent.
Vandalism – Physical damage or defacement of the home is covered
Additional coverage for:
- reasonable expenses for emergency repairs
- other structures on the property
- debris removal
- fire department service charge
- water and mold
- improvements and alterations
- trees, shrubs, lawn
Short term rental permission – Rental terms less than three months, which are common in resort areas, can be accepted.
Occasional rental – A seasonal home can be rented to others for a short period of time when the owner is not using it.
Short term vacancy permission – A property between renters or undergoing renovations will be vacant for a few weeks or months. Adding the vacancy permission coverage keeps the property protected without the hassles of rewriting the policy.
Premises liability – Add protection for an injury occurring to someone while on the premises. The option does not cover a tenant’s actions.
Personal property – Add coverage for items such as furnishings, appliances, linens and the like, owned by the landlord and kept in their rental property, or owned by the seasonal home owner.
Limited burglary – If a forced entry leaves signs of visible damage (for example a broken window or jimmied door) we will cover the theft of personal items or permanently attached items such as a heat pump or even copper piping.
Water damage – increase from 10% to up to 100% Coverage A
Premises Liability (covers a property manager / can add landlord personal injury if a rental)
And multitude of available discounts
Program details vary by state. For specifics, please log in to modernLINK and consult the program manual for specifics located under the eForms tab.