Dwelling Fire Insurance

What Is It?

Landlord Insurance or commonly known as a Dwellingfire Policy is generally for property owners that use their property as an investment property, renting the property to a tenant or family member and does not live in the home. This type of policy includes benefits similar of a standard homeowners policy, helping to protect the financial investment the property owner has in the property. These policies cover the structure and connected structures however would offer contents coverage for any contents that belong to the landlord inside the home. Dwellingfire policies offer:

Property Damage: Coverage to your damaged structure or personal property from a covered loss associated with your investment property. 

Liability coverage: This important coverage helps protect you against liability claims and lawsuits, as well as costs associated with bodily injury claims on your property.

Loss of Income: Coverage that helps compensate you for any lost income in the event that a rental property becomes inhabitable due to a covered loss. Also known as rental reimbursement that prevents you from losing income from the rent of your tenants. 

Water Damage:


Why Is It Important?

There are many reasons why a property owner is encouraged to purchase a dwellingfire policy when owning an investment property. Building fires, unpredictable weather, vandalism, and liability claims are a common concern when owning a property. If damage occurs or a liability issue arises, a dwellingfire policy can help lessen the out of pocket expenses and providing the peace of mind needed when having tenants in a property that you cannot oversee on a daily basis. In addition to helping costs that arise from physical damage and liability issues, but also provides reimbursement for loss of rental income and can cover repairs/replacement of the structure if you suffer a financial loss associated with your rental property.

How Much Coverage Is Needed?

Different tools can be utilized when determining exactly the amount the structure should be insured for to ensure the structure is sufficiently covered. Any personal property or major appliances the property may include should also be taken into consideration when determining the amount of contents coverage needed. Personal liability can range from $100,000-$500,000 but if multiple properties are owned its encouraged to purchase an umbrella policy which focuses on liability for all your Florida based properties.

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