Dwelling Special

Protect rental property, vacation homes and vacant property with replacement cost coverage.

Customers with rental property and seasonal vacation homes are looking for protection like they have on their full-time residence. Offer them a Dwelling Special policy. It is similar to the HO-3 policy you sell every day. Vacant property is accepted as well, which is very helpful for rentals that are between tenants, or homes that are for sale but empty.

Discounts help customers save

Property coverage has up to ten available discounts, making it pretty easy for you to save a customer 20 percent or more:

  • Approved association membership – 5%
  • Auto policy with agent – 5%
  • Multiple policies with American Modern – 5%
  • No claim in past 3 years – varies
  • Paperless documents – 1%
  • Paying in full – 5%
  • Central station fire / smoke alarm – 5%*
  • Central station burglar alarm – 5%*
  • Local smoke and / or burglar alarm – 2%*
  • Deadbolt, smoke alarm, fire extinguisher – 2%*

* up to 10% total / not available for vacant property

Options offer customers added protection

  • Add water damage coverage to a rental or seasonal risk (up to 100% Coverage A, mold sublimit applies).
  • Add theft coverage to a seasonal risk (up to 10% Coverage C).
  • Add coverage for damage caused by service line failure to any risk.

AMsuite™ makes your work easier

  • C.L.U.E. reports and MSB valuation data are automatically imported making the quotes more accurate and easier to complete.
  • Occupancy is easily changed mid-term. That’s very helpful when changing between rental and vacant.
  • Up to 10 dwellings can be written on one policy, a great option for real estate investors.

 Occupancy types • Rental – R
• Seasonal – S
• Vacant – V
 Property description • Up to four-family
• Up to three-stories
• Up to 80 years of age in most states
• Above average condition and better
• Row or town home
• Schedule up to 10 homes on one policy
 Value range • $75,000 min.
• $500,000 max. – R
• $1M max. – S V
There will be some state variation but this is the standard
 Insured for • Replacement cost
 Protection classes • 1 to 10
 Coverage • All risk for dwelling and other structures
(Check the policy for any exclusions)
• Named peril for personal property (Named
perils same as those on 2014 ISO DP-3 form)
 Deductible • $500 default
• Optional $1,000, $2,500, $5,000
Separate deductibles may apply in some states for coverage such as wind/hail.
 Loss settlement • Replacement cost for dwelling and other structures / modified functional replacement cost is optional
• Actual cash value for personal property / replacement cost upgrade is optional
 Included coverage • Other structures – 10% Coverage A
(does not reduce Coverage A)
• Reasonable repairs
• Debris removal
• Additional living expenses /
Fair rental value – 10% Coverage A
• Fire department surcharge – $500
• Water damage – 10% Coverage A with a
$5,000 sublimit for mold and remediation
 Optional coverage • Premises liability – $25,000 to $500,000
(covers a property manager / can add
landlord personal injury if a rental)
• Personal property
• Burglary – up to 100% of Coverage C
• Theft – S – 10% of Coverage C
• Water backup and sump overflow – R S –
$5,000 limit
• Water damage – increase from 10% to up to
100% Coverage A with a $10,000 sublimit for
mold and remediation
• Short term rental – R
• Occasional rental – S
• Identity recovery
• Home equipment breakdown protection
• Service line – $10,000 limit ($500 deductible)
• Ordinance or law – 10% Coverage A
 Discounts  For R S:
• Central station fire / smoke alarm – 5%*
• Central station burglar alarm – 5%*
• Local smoke and /or burglar alarm – 2%*
• Deadbolt, smoke alarm, fire extinguisher – 2%*
*up to 10% totalFor R S V:
• Approved association membership – 5%
• Auto policy with agent – 5%
• Multiple policies with American Modern – 5%
• No claim in past 3 years – varies
• Paperless documents – 1%
• Paying in full – 5%
 Payment options • Full pay
• Monthly, EFT only
• 2-Pay, billed or EFT
• 4-Pay, billed or EFT
• 6-Pay, billed or EFT

Capital letters following a coverage or description show any restriction on the eligible occupancy types