Investment Property Insurance - DP3 Policy

Chapman Insurance Group understands that your home is your most important investment. We can help you protect it with DP3 insurance.

Homeowners most often invest in a DP3 policy because they’ve decided to rent out their home or a portion of their home. Another reason that people get DP3 insurance is because they have an older roof that makes it difficult to insure under the traditional homeowner’s policy.

Before you decide to get a DP3 policy, ask yourself these questions:

  • Is my roof more than 10 years old?
    • Having an older roof may make you ineligible for coverage for some insurance companies.
  • What sort of risks does my property face?
    • DP3 provides broader coverage than DP1 or DP2; it’s the only dwelling property policy written on the basis of open perils.
  • How important is my rental income?
    • If rental income is a major part of your general income, loss of rent coverage is important to your recovery as well.
  • Can I afford to repair damage done to this property?
    • Getting the full replacement cost value of your property can help you to recover, but you may not qualify for complete replacement cost based on certain factors of the home.

A typical DP3 policy will cover the physical structure of your home, but you can add endorsements to your policy that will cover:

  • Damage to personal property
    • For example, appliances in the home
  • Personal liability
  • Medical payments for injured visitors

DP3 policies are a popular type of investment property insurance because they are written on the basis of open perils. The fact that they’re written on an open perils basis means that any and all damage is covered unless that damage is caused by an event listed in the policy. The most commonly EXCLUDED events are:

  • Ordinance/law
  • Earth movement
  • Water damage
  • Power failure
  • Neglect
  • War
  • Nuclear hazard
  • Intentional loss
  • Government action
  • Mold

Chapman Insurance Group wants to make sure that your home is covered, and we can make that happen with investment property insurance. Contact one of our agents today for a free quote.

Have questions about getting a DP3 policy?
Ask an expert.

At CIG, we are experts in all things investment property insurance. Contact one of our agents today to get the answers that you need.

Find a DP3 policy near you.

Chapman Insurance Group offers investment property insurance to Port Charlotte, Punta Gorda, Cape Coral, Fort Myers, Bonita Springs, and Naples, FL.

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