Florida Peninsula's DP-3 coverage is ideal for vacation / investment / rental property.
BOCA RATON, FL / ACCESSWIRE / September 29, 2023 / Florida Peninsula Insurance Company, a leading provider of comprehensive homeowner insurance services in the state, is proud to announce we will begin offering Dwelling Fire insurance, commonly referred to as a "landlord policy" starting October 2nd .
The Dwelling Fire policy is designed to provide coverage for homes not eligible for a standard home insurance policy, such as homes rented to others, as well as vacation homes and residential investment properties. Dwelling Fire policies are also available to those individuals living in a home which features an older roof or are looking for basic coverage at an affordable price.
What Sets a Landlord Policy Apart?
The Dwelling Fire policy has a lot in common with a standard homeowner's insurance policy. For example, both offer broad protection for the home, and personal property contained within the home. Both are considered "open perils" policies, meaning the home is protected against a wide variety of perils - aside from a small list of exceptions contained within the policy, such as flood.
Unique features of the Dwelling Fire policy are its provisions for loss of rent and the ability to insure homes with older roofs. Should a nonowner-occupied property become uninhabitable due to a covered loss, the landlord policy will cover lost rental income. And, with Florida Peninsula's Dwelling Fire policy, replacement cost coverage is available on both the dwelling and contents.
"We're committed to providing policyholders with flexible, affordable solutions like the new DP-3 policy," says Florida Peninsula President Clint Strauch. "This policy offers substantial coverage in hurricane-prone Florida at a competitive premium."
A Win for Property Owners
With insurance costs soaring in the aftermath of Hurricane Ian, Florida homeowners are feeling the pinch. Florida Peninsula's new DP-3 policy provides coverage for secondary homes, rental properties, and older homes, allowing owners to secure affordable insurance even for properties with roofs over 10 years old.
"During these challenging times, we are always looking for ways to offer additional coverage options to help Florida residents," adds Strauch. "Our customizable Dwelling Fire product allows us to meet the needs of those struggling to find affordable home insurance."
Who Will Benefit?
This policy is particularly beneficial to property owners who:
- Are holding onto a property they inherited or moved from before selling
- Own an investment or vacation home they rent out
- Have a home with an older roof
Get Your Landlord Policy Today!
Florida Peninsula's Dwelling Fire coverage offers one of the most cost-effective ways to insure a home with an older roof, and investment and rental properties in the state. The policy can be customized to meet a property owner's unique needs.
Current Florida Peninsula policyholders, and those looking for a potential new policy, are encouraged to contact their Florida Peninsula agent to find out more about its Dwelling Fire policy.
"We're hoping our Dwelling Fire option will lighten the financial burden of insuring rental and investment property in Florida, ensuring our state remains a place where residents and investors alike can continue to thrive," Strauch says. "It's an excellent choice for anyone seeking affordability without sacrificing quality coverage."
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ABOUT FLORIDA PENINSULA INSURANCE COMPANY
Founded in 2005 by a team of veteran insurance professionals, Florida Peninsula Insurance Company is one of Florida's largest companies offering multi-peril homeowners and flood insurance. The company insures approximately 200,000 homes, condos, and apartment units located throughout the state - and markets its services through a network of 2,500 independent insurance agents.
Florida Peninsula and its family of companies combine the use of the latest technological advances with old-fashioned courtesy and superior customer service and claim handling, providing efficient and cost-effective peace-of-mind protection for policyholders.
Florida Peninsula's solid financials are an industry standout. The insurer has maintained its Financial Stability Rating® (FSR) of "A Exceptional" from Demotech, based on balance sheet strength, operating performance, and business profile.
Media Contact:
Michelle Griffith or Don Silver
BoardroomPR
(954) 370-8999
mgriffith@boardroompr.com
SOURCE: Florida Peninsula Insurance Company
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https://www.accesswire.com/788398/florida-based-home-insurer-unveils-new-landlord-policy-dp-3-lowering-the-cost-of-residential-property-insurance
