There are 3 typical policy types you can choose from when purchasing a landlord policy. We will discuss what perils are covered on each type so you can make an educated decision on which coverage is best for you. Like any decision you must weigh the cost differences with your level of comfort on the coverage type chosen.
DP-1- A DP-1 policy stands for Dwelling Policy 1 and is known as an actual cash value (ACV) coverage. ACV covers your dwelling minus any depreciation of the property based on age.