Homeowners Insurance vs. Rental Property Insurance: What’s the Difference?
Homeowners insurance and rental property insurance are both types of property insurance, but they have different purposes. Homeowners insurance is designed to protect the owner of a home, while rental property insurance is designed to protect the owner of a rental property. Here is a table that summarizes the key differences between homeowners insurance and […]
What is a Dwelling Fire Policy?
A dwelling fire policy is an insurance policy that protects your home from damage caused by fire. It can also cover damage caused by lightning, windstorm, hail, explosion, and vandalism. Dwelling fire policies are typically offered in two forms: DP-1 and DP-3. DP-1 is a named perils policy, which means that it only covers damage […]
DP1 vs DP3: What’s the Difference?
If you’re shopping for dwelling fire insurance, you may have come across the terms DP1 and DP3. These two types of policies offer different levels of coverage, so it’s important to understand the difference before you buy. DP1 stands for Dwelling Policy Form 1. This type of policy is a named perils policy, which means […]