Rental property · The HO-3 assumes you live there
Landlord insurance is a dwelling policy for a house you rent out. It is not the tenant’s renters policy, and loss of rent pays only after a covered peril makes the unit unlivable. This page will not invent a price.
An HO-3 is built for an owner who lives in the house. A rented house needs a dwelling form. A DP-3 is usually open-peril on the building. A DP-1 is basic named-peril. Liability on a dwelling policy is often an endorsement. It is not the personal-liability section of the HO-3 you used to live in. Loss of rent pays the rent you lose because a covered peril made the unit unfit to live in. It is not a vacancy stipend, and it does not pay the nights between bookings. Ordinary tenant wear is not a covered peril. The tenant’s HO-4 covers their contents and their liability. It does not rebuild your building. “Interested party” means the carrier can mail you a cancellation notice. It does not make you an additional insured unless an endorsement says so.
The product: landlord insurance, DP-1, DP-2, and DP-3. Texas, without a made-up premium: Texas landlord cost and landlord versus homeowners. What you can ask a tenant to carry: a tenant’s policy. Other states: Colorado, Missouri, and Tennessee. The coverages, not a price list: Tennessee landlord coverages.
