Dwelling Insurance for Rental & Investment Properties
If you own a home or property that’s not your primary residence—such as a rental, tenant-occupied home, or investment property—you’ll typically need a policy designed for that use. Dwelling insurance (often called Dwelling Fire or DP coverage) helps protect the structure and can be tailored with options like loss of rents and premises liability (coverage varies by carrier and policy form).
Properties commonly insured with a Dwelling policy
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Tenant-occupied rentals
Single-family rentals, long-term tenants, or rented seasonal use (depending on underwriting). -
Investment properties
Homes held for income or resale where the owner does not reside. -
Vacant or renovating homes
Vacancy endorsements or vacant home policies may apply (time limits vary). -
Secondary/seasonal use
If not owner-occupied full-time, we’ll guide you to the right policy type.
Unsure what you need? Tell us how the property is used and we’ll match the right policy form.
What is Dwelling (Dwelling Fire/DP) insurance?
Dwelling insurance is designed for properties you own but do not live in as your primary residence. It typically focuses on coverage for the structure and can be customized to include other structures, certain personal property used to maintain the premises, and liability related to the property (policy terms and eligibility vary).
Many landlords pair a dwelling policy with loss of rents so rental income may be protected if the property becomes uninhabitable after a covered loss.
Common dwelling policy components
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Dwelling (Coverage A)
Helps insure the structure: roof, walls, built-ins, and attached components. -
Other Structures (Coverage B)
Detached garages, sheds, and fences—when included and eligible. -
Premises Liability
Helps with claims if someone is injured at the property (terms apply). -
Loss of Rents (Fair Rental Value)
May help replace income after a covered loss causes a tenant to move out. -
Optional endorsements
Water backup, equipment breakdown, theft, and more—availability varies by carrier.
Landlord policies differ by carrier. We’ll review what’s included, what’s excluded, and what you can add.
DP-1 vs. DP-2 vs. DP-3 (what landlords should know)
Dwelling policies are often written on DP forms. The best fit depends on your property, condition, and how you use it. We’ll help you compare forms and carriers based on eligibility and coverage needs.
DP-1 (Basic)
Often limited, named-peril style coverage. Typically used when broader forms aren’t available.
DP-2 (Broad)
More covered perils than DP-1 and may include additional coverages depending on carrier.
DP-3 (Special)
Often the broadest dwelling form (commonly “open peril” on the structure), subject to exclusions/terms.
Not every property qualifies for every form. Construction, roof age, prior losses, vacancy, and updates can influence eligibility.
What landlords and investors should consider
Rental properties come with different exposures than owner-occupied homes. We’ll help you choose limits and options that align with how you rent and manage the home.
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Liability exposure
Slip-and-fall claims can happen. Premises liability is a common landlord need. -
Loss of rents
If a covered loss forces tenants out, this may help replace rental income. -
Vacancy periods
Many policies limit coverage after a home is vacant for a set time—tell us if it’s empty. -
Tenant vs. landlord property
Tenant belongings are typically not covered—renters insurance is a great companion.
What we’ll ask to quote your dwelling policy
The more complete your info, the easier it is to match you with the right carrier and coverage form.
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Property details
Address, year built, square footage, construction type, roof age, and updates (HVAC/plumbing/electric). -
How it’s used
Tenant-occupied, short-term rental, vacant, renovation in progress, or seasonal use. -
Prior coverage & losses
Current policy/dec page if available and any prior claims history. -
Desired options
Loss of rents, higher liability limits, water backup, equipment breakdown, etc.
If your property is in a flood zone or near water, ask about flood coverage—dwelling policies typically do not cover flood.
Dwelling insurance questions we hear from landlords
Rental properties have unique rules around occupancy, liability, and vacancy. Here are a few common questions.
Is dwelling insurance the same as homeowners insurance?
Not usually. Homeowners policies are designed for owner-occupied primary residences. Dwelling policies are commonly used for non-owner occupied, tenant-occupied, or investment properties. We’ll help confirm which policy type fits your use.
Do I need loss of rents coverage?
Many landlords consider it. If the home becomes uninhabitable after a covered loss and your tenant must leave, loss of rents (fair rental value) may help replace rental income for a limited time (policy terms apply).
Does the dwelling policy cover my tenant’s belongings?
Typically no. Tenants generally need their own renters insurance for personal belongings and liability. We can provide a simple renters recommendation you can share with tenants.
What if the property is vacant or under renovation?
Vacancy can change coverage and eligibility. Many policies limit coverage after a set number of vacant days. If the home is empty or being renovated, tell us—we can look at vacancy endorsements or a vacant/renovation policy.
Protect your rental property with the right dwelling policy
We’ll help you compare dwelling forms, add landlord options like loss of rents, and choose coverage that fits your investment strategy in Elizabeth City and across Northeastern North Carolina.
Note: Coverage availability, limits, eligibility, definitions, endorsements, exclusions, vacancy rules, and claim triggers vary by carrier and policy form. This page is for general education and does not replace policy language.