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The DP1 insurance policy is the most basic insurance policy available for rental properties in the United States. This policy is often referred to as Dwelling Fire Form 1, or DP-1 insurance.Does DP1 homeowners insurance cover vandalism?
Because DP1 is a named perils policy, it only covers damage to the home from those nine incidents listed in the policy. Any source of damages that’s not in the policy isn’t covered. As you can imagine, that leaves a lot of room for gaps. For example, vandalism isn’t covered, and that’s damage vacant homes are especially prone to.How many perils does a standard Dp-1 rental home insurance policy cover?
The standard DP1 insurance policy only covers 9 perils. The following list shows what is considered a named peril – and as a result covered – in a standard DP-1 rental home insurance policy:Can I insure my vacation home with a DP1 policy?
In many cases, a DP1 can policy can cover your vacation home. A vacation home is considered a vacant property, which is riskier to insure than a property occupied full-time. The additional risk factor comes from the simple fact that there is one there to notice problems as they arise.