Georgia Dwelling Fire (DP3)

When you own a rental home, you want to make sure you have the maximum amount of insurance no matter what happens. Incidents like accidents, natural disasters, or theft can leave you vulnerable to paying large sums of money if you aren’t properly covered. Heritage Property and Casualty knows the value you place on your home, and offers a product specifically for landlords to protect their assets. Known as dwelling fire policies, these are landlord insurance policies that cover single-family or duplex homes that are rented and not vacant. A dwelling fire (DP3) policy provides coverage that you can count on, and insures against the following incidents:

Loss of Rents

Condo Insurance – Medical Personal Liability Coverage One of the biggest challenges a landlord with rental property faces after a natural disaster is that not only do you have to repair the property, but you are not getting any income from that property while it is vacant. Loss of rents coverage provides a landlord with continuous rental income if their active rental property must be vacated due to repair work after a covered peril such as a fire, windstorm, or hurricane. This comes in handy if your renters need to move out and live elsewhere. This ensures your focus remains on repairing the property rather than worrying about the financial hardship.

Other Structures

Condo Insurance – Loss Assessment Coverage A Georgia dwelling fire (DP3) policy not only covers the landlords’ property, but also includes additional structures as sheds. This coverage helps to ensure other structures on the rental property such as a detached garage or pool house are eligible for repair or replacement in the event of a covered peril. This coverage prevents the landlord from having to pay the full cost to rebuild these structures if damaged in a hail storm or destroyed by fire.

Personal Liability and Medical Payments to Others

Condo Insurance – Personal Property and Valuables It is recommended that renters have a supplemental insurance policy to cover accidents as well. As the owner of the property, you may ultimately be responsible for your tenants and any accidents occurring on the property. A DP3 policy will assist with legal court costs, and can help by paying for medical bills and damages. Your financial reserves could be drained very quickly by a serious accident, so Heritage will make sure this policy is used to its full potential.

Optional Coverages in Georgia

Heritage Property and Casualty Insurance can also provide optional coverage on your rental property. Talk to your agent to see if you need any of the following:

Ordinance or Law

Many communities have an ordinance that states if a structure such as a single family home or duplex is damaged beyond a certain threshold, often about 50%, it must be demolished and rebuilt by current building codes rather than simply repaired. If an older home is damaged, there may be significant costs to upgrade the electrical or ventilation to current standards. As a landlord, you can obtain an optional Ordinance or Law endorsement that will cover the loss of the cost of demolishing and rebuilding, or the increased cost of rebuilding an older structure in accordance with current building codes.

Theft or Burglary

Personal property is usually covered by your tenants’ rental insurance policy, but as a landlord, you can get optional coverage added to your dwelling fire (DP3) policy. This insurance is to protect you from theft of appliances and other items furnished by you and included in the rental. It’s especially valuable if you just refurbished the home with new appliances prior to the rental. Your refrigerator or other appliances and furnishings within the rental property will be replaced if they are stolen, unless stolen by the tenant.

Talk to your Heritage agent about how adding optional theft insurance to your policy can provide additional security and peace of mind.


Always Contact your Georgia Heritage Insurance Agent

Your Heritage insurance agent can help you define the amount of coverage and options appropriate for your individual needs. We are proud of our partnership with independent agents, who are highly trained professionals focused on customer satisfaction and attention to detail. Contact us right away to get the information you need to secure a policy that’s right for you and your family. If you should need to report a claim, we’ll be there for you 24 hours a day, 7 days a week to process your claim quickly and efficiently.

This information is provided to you as an overview of our products and services. Consult your insurance agent to understand all of the provisions, limitations, and exclusions that are part of a standard condominium insurance policy.