Who’s the DP-3 for?
- Rental homes
- Investment or inherited properties
- Vacation or second homes
- Older homes with a roof 10+ years old
Most Florida insurance providers will often be reluctant to offer any coverage on properties with roofs this outdated due to them being so prone to structural damage, especially considering Florida’s harsh winds and frequent storms. For property owners and landlords looking to have a long-term, successful real estate investment, DP3 coverage helps put you in the best possible position for success.
An added benefit to DP3 coverage is the level of flexibility and customization that it offers. These days, there are many individuals who invest in properties on a part-time basis. This could be properties that people buy and rent out on popular apps like Airbnb and Vrbo. It could also be a beach house along the shore, a high rise apartment unit in cities like Aventura or even a quiet cottage deep inland. For landlords who own properties of any shape or size, DP3 coverage provides you with the right coverage when you need it most.
A DP-3 policy provides broad protection against most adverse events, such as hurricane-force winds, lightning, hail, fire, vandalism, theft, and more.
Yes! If you lose expected rental income after a covered loss, this policy can reimburse you, at fair rental value, for rental income you would’ve earned while the property is being repaired.
Absolutely! DP-3 policies specialize in providing coverage for just this type of scenario. To better understand if DP-3 coverage is the right choice for you, consult your local Florida Peninsula insurance agent today.
Absolutely! You might use Airbnb, Vrbo, or one of the many other online platforms to rent out your property – and all are perfectly fine to use.
A limitation to obtaining a DP-3 landlord policy, however, is the property must be rented for minimum of 7 days and must be managed by a management company. Talk to your Florida Peninsula insurance agent to find out whether the DP-3 is right for you.