Landlord Insurance
DP3 coverage designed for Florida rental property owners — protecting your investment, your rental income, and your liability as a landlord.
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What is DP3 landlord insurance?
DP3 (Dwelling Fire Policy - Special Form) is insurance designed specifically for properties you own but don't live in — rental homes, investment properties, and vacation rentals. It's different from homeowners insurance because it's built for landlords.
Unlike your standard HO3 policy, landlord insurance covers your property as a business asset, protects your rental income if the property becomes uninhabitable, and provides liability coverage specific to your role as a landlord.
Landlord insurance vs. homeowners insurance
Standard homeowners insurance won't cover a rental property. Here's what landlord insurance provides that HO3 doesn't:
Landlord Insurance (DP3)
- Property coverage for rental dwelling
- Lost rental income protection
- Landlord liability coverage
- Other structures (garage, shed)
- Your appliances in the unit
- Vacant property coverage options
Flood Insurance
Standard landlord policies don't cover flood damage. Protect your investment with separate flood insurance — essential for Florida rental properties.
Homeowners Insurance (HO3)
- Only covers owner-occupied homes
- No lost rental income coverage
- Personal liability (not landlord)
- Covers your personal belongings
- May void if property is rented
- Not designed for business use
Why It Matters
Using homeowners insurance on a rental property can void your coverage entirely. If a claim arises, you could be left with nothing.
Important: If you rent out your home — even occasionally on Airbnb or VRBO — you need landlord or short-term rental coverage. Standard homeowners insurance won't protect you.
What does landlord insurance cover?
Property Coverage
Protects your rental property's structure from covered perils like fire, wind, hail, and vandalism. Covers the dwelling, roof, walls, and any permanent fixtures you own.
Lost Rental Income
If your rental becomes uninhabitable due to a covered loss, this coverage reimburses you for the rent you would have collected while repairs are being made.
Landlord Liability
Protects you if a tenant or visitor is injured on your rental property. Covers legal defense costs and settlements up to your policy limits.
Your Property in the Unit
Covers appliances and equipment you provide for tenant use — refrigerators, washers, dryers, lawn equipment, and other items you own that remain in the rental.
Common questions about landlord insurance
How much does landlord insurance cost in Florida?
Landlord insurance typically costs 15-25% more than homeowners insurance for a similar property. Annual premiums vary based on the property's location, value, construction, and coverage limits. We compare quotes from multiple carriers to find competitive rates.
Do I need landlord insurance if my tenant has renters insurance?
Yes, absolutely. Your tenant's renters insurance only covers their belongings and liability — not your building, your liability as a landlord, or your lost rental income. Both policies serve different purposes.
What if my rental property is vacant?
Vacant properties have different risk profiles and may require special coverage or endorsements. Let us know your situation — we can find policies that cover vacant periods or help you transition between tenants.
Does landlord insurance cover short-term rentals?
Standard landlord policies are designed for long-term rentals. If you're listing on Airbnb, VRBO, or similar platforms, you may need specialized short-term rental coverage. We can help you find the right policy.
What about tenant damage?
Standard landlord insurance covers sudden, accidental damage from covered perils — but typically not intentional damage or normal wear and tear. For protection against tenant-caused damage, consider requiring a security deposit and thorough tenant screening.
Should I require my tenants to have renters insurance?
Yes, we strongly recommend it. Requiring renters insurance protects your tenants and reduces the likelihood of them filing claims against your policy for issues their own insurance should cover. It's a smart landlord practice.
Florida landlord insurance carriers we work with
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Protect your rental property investment with the right coverage. We compare rates from multiple carriers to find you the best value.