
Dwelling (DP-3) Insurance
Offer coverage to customers whose homes don’t fit the standard HO-3 because of age, value, use, or past claims.
A customer’s investment may not always qualify for a standard homeowners policy. But you’ll be happy to know there’s an easy solution. Whether it’s a rental property or a seasonal home, our DP-3 program offers comprehensive protection, replacement cost settlement, superior claims service and the kind of comfort and peace of mind customers deserve.
Home eligibility
- Rental or seasonal occupancy
- Structure 80 years of age or newer (60 years in some states)
- Roof 20 years of age or newer
- Above average or better condition, showing proper maintenance
- Up to four-family construction
Special coverage and limits
- Comprehensive protection – Any cause of loss is allowed except those specifically excluded in the policy documents.
- Replacement cost settlement – Losses are settled at the replacement cost, up to the policy limit. There is no depreciation deduction.
- Personal property option – This option covers furnishings in the home provided by the landlord – sofa, tables, chairs, appliances, linens, and the like – or owned by the homeowner.
Other benefits
- The title may be held by a corporation or LLC
- No limit on the number of policies
- Multiple deductible choices and payment options
Dwelling (DP-3) Policy Highlights
Included Coverage | 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 – Reasonable expenses for emergency repairs such as covering a roof after a storm • Other structures on the property • Debris removal • Fire department service charge • Collapse • Water and mold • Improvements and alterations • Trees, shrubs, lawn |
Optional Coverage | Short-term rental permission – Rental terms less than three months, which are common in resort areas, can be accepted. Occasional rental – With this option a seasonal home can be rented to others for a short period of time when not in use. 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 the rental property, or owned by the seasonal home owner. Vandalism – Physical damage or defacement of the home is covered. 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. Breakdown protection – Widen the policy’s scope to include the repair or replacement of major appliances, HVAC and electronics due to mechanical or electrical failure. Identity theft recovery – Identity theft can result in real harm being done to a person’s credit report. This special option provides professional assistance and up to $15,000 in expense reimbursement. |
Payment Options | EZPay – Pay through automated monthly installments via credit card or bank account. 4-Pay – Pay a quarter up-front with an installment due every 60 days. Full Pay – Pay when coverage begins or on renewal. |