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DP1 Insurance, also known as Basic Dwelling Insurance or Named Peril Insurance, is a protective buffer for your investment property, designed to keep your home safe from 9 perils. Whether your rental home is occupied by tenants, between leases, or has been empty for a while, it’s a key safety net for your finances.
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If you own a property and don’t live there, it’s wise to have DP1 Insurance—it’s that simple. There are different situations included in this coverage, here are a few clarifications:
If you own a property and rent it out. You can have a lease with your tenant, ensuring regular payments (rent) and other agreements on how both are responsible for maintaining the investment property, meeting certain legal standards, and addressing any issues that may arise during the tenancy.
If you own another home, besides your main residence, that you generally use for holidays, weekend getaways, or as a seasonal residence. This type of dwelling, also known as Vacation Home or Seasonal Home, can remain unoccupied but with your personal belongings in it.
If you own a permanently unoccupied residence. Also known as Empty Home, this type of dwelling has to be temporarily vacant and without personal assets. The reasons? There are plenty. Either because you recently inherited it, or it was under repairs, because you’re waiting to sell it, or maybe it’s between rental agreements and you’re waiting for the right tenant.
DP1 Insurance protects the main dwelling, other structures, and loss of use with the actual cash value method. The following list details the covered perils:
You can learn more about covered perils in Landlord Coverage.
The cost of your DP1 Insurance depends on multiple factors such as where your home is located, its age and condition, your claims history, deductibles, and your property’s construction type, among others.
At PSIC we want to provide the right coverage. In other words, the one that suits your needs. Keep in mind that the more you customize it, the more expensive it can get. Yet, it will also provide comprehensive protection in the event something happens. PSIC offers competitive rates and Landlord Insurance discounts that make protection accessible.
We currently offer DP1 Insurance in the state of California. To learn more about how you can customize your policy please select the state.
We plan to expand our DP1 Insurance coverage nationwide soon, ensuring all owners the benefit of our reliable insurance solutions.
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Start a quote today and let us help you find the coverage that best suits your needs.
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With more than 40 years of trajectory, we have the expertise to accompany you in every stage of your life.
Customer support: 800-303-5000
Claims support: 800-962-1172
5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807
Copyright © 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.