Dwelling · A rented house is not an HO-3
A DP-3 is a dwelling form, usually open-peril on the building. It fits a duplex or townhome you rent out. It does not insure the tenant’s furniture, and loss of rent pays only after a covered peril makes the unit unlivable.
An HO-3 assumes you live there. If the whole property is a rental, the carrier usually wants a dwelling policy instead. A DP-1 is a named-peril basic form. A DP-3 is the broader dwelling form: sudden causes of loss to the building are covered unless excluded. Flood is still excluded. Contents, if you insure any, are often named-peril and often actual cash value unless you add replacement cost. The tenant’s HO-4 covers their belongings and their liability, not your rebuild. Liability for the premises is often an endorsement on a DP-3, not the automatic personal-liability section of an HO-3. Forms differ. An owner who lives in one side of a duplex should ask which form the carrier will actually use. A townhome with an association master policy may be an HO-6 for the unit you occupy, not a DP-3.
The product: landlord insurance and what moves the cost. How the forms differ: HO-3, HO-2, and the rest and Texas policy types. Cancel only after the new policy is bound: cancellations, nonrenewals, and lapses.
