DP-3 Insurance: Protect Your Property

A DP-3 policy is considered the best type of protection for residential homes rented to others, homes with older roofs, or investment properties in the name of an LLC, Trust, Partnership or Corporation. At Florida Peninsula Insurance Company, we understand the complexities of owning a home with an older roof and also being a landlord, which is why we’ve made getting the insurance you need as easy as a day at the beach.
Florida Peninsula Insurance - Renter's Insurance
Florida Peninsula Insurance - Homeowner's Insurance

Save Money on Your Residential Property Insurance

Florida Peninsula’s DP-3 insurance policy uses thoughtful coverage valuations, which allows property owners and investors to enjoy substantial protection at a lower cost.

What Makes Our DP-3 Coverage Unique?

This insurance is comprehensive, customizable, and in some instances more affordable than a standard homeowner’s policy. With a DP-3 policy, your dwelling’s structure is covered at its replacement cost; property you own inside is covered at actual cash value; and the roof is covered at a predetermined or stated value. This policy offers broad protection against most adverse events, such as damage from wind, hail, lighting, fire, vandalism, and theft – plus loss of rental income, too.

Who’s the DP-3 for?

Our DP-3 policy is designed to cover residential dwellings not typically occupied by the property owner, such as:
  • Rental homes
  • Investment or inherited properties
  • Vacation or second homes
  • Older homes with a roof 10+ years old
It’s also available for properties deeded in the name of Trust, LLC, corporation, or partnership.

Will I benefit from a DP3 policy?

Every Florida Peninsula policyholder with DP3 coverage has felt very relieved to be protected under this policy simply because it isn’t offered across any other comprehensive plans. A DP3 policy can prove to be greatly beneficial to those who own an investment property or have a roof that was installed over a decade ago.

Most Florida insurance providers will often be reluctant to offer any coverage on properties with roofs this outdated due to them being so prone to structural damage, especially considering Florida’s harsh winds and frequent storms.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.

Speak to a DP3 insurance expert today.

For coverage options and personalized service, find an experienced Florida Peninsula agent in your area.

There’s not a question we can’t answer.

We’ve collected the most frequently asked questions about our DP-3 also known as landlord insurance – and we answer them below.
What type of losses does landlord insurance cover?

A DP-3 policy provides broad protection against most adverse events, such as hurricane-force winds, lightning, hail, fire, vandalism, theft, and more.

Is loss of rental income covered in a DP-3 policy?

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.

We’re snowbirds and we occasionally rent out our Florida home for the 6 months or so when we’re not there. Will a landlord policy cover this property?

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.

I use Airbnb to rent out my Florida property – do I qualify for a DP-3 landlord policy?

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.

Looking for helpful resources to help protect your investment property?

Stories and information to help you plan, prepare, and protect what matters most.

Save Money With a DP-3 Policy From Florida Peninsula Insurance

If you own investment property in Florida, you'll want to learn more about the DP-3 policy.

What Insurance Coverage Is Best for Investment or Rental Property?

You may be tempted to obtain a standard homeowner's policy on the property, but there's a more reasonably priced option available to Florida homeowners.