August 27, 2021 | from the Professional Blog of KTB Property Management
The coverage you need for those high risks
As a home owner does your current insurance give you the coverage you need for a rental property?
Most likely not. You need to make sure that you are covered for those high-risk hazards.
What you need is called Dwelling Property All Risk (DP3) Insurance.
This is an extensive public liability property insurance. Its best to tell your insurance company that the amount should be equal to or higher than the full replacement cost of the structure and any other damaged property.
The cost for this coverage is higher than your standard homeowner’s policy, so be prepared to pay more.
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©KTB Property Management 2021