Can I keep my homeowner policy on a rental property?

Usually no. Homeowner forms require owner occupancy. Once a property is rented out long-term, a landlord (DP-1, DP-2, or DP-3) policy is the proper fit.

What is the difference between DP-1, DP-2, and DP-3?

DP-1 is named-perils, DP-2 is broad-form named-perils, and DP-3 is the most common open-perils replacement-cost form for newer Florida rentals.

Can I use a DP-3 for an Airbnb or VRBO?

No — DP-3 is built around long-term tenants. Short-term rental use requires a separate STR program, and using a DP-3 for an STR can void coverage.

Should the policy be in my name or my LLC's name?

Name the LLC as the insured. We can list members as additional insureds. Most lenders require it for properties held in an LLC.

Is loss of rents the same as tenant default coverage?

No. Loss of rents pays rental income only when a covered property loss makes the unit uninhabitable. It does not cover ordinary vacancy or a tenant who simply stops paying.

Do I need flood insurance for a Florida rental?

Most lenders require flood in mapped flood zones, and FEMA recommends it broadly. Standard landlord policies do not include flood.

What about umbrella for a small landlord?

Umbrella should be reviewed when an investor owns multiple properties, has higher lease limit requirements, or wants liability above the underlying landlord GL.

Will the policy cover renovations?

Minor maintenance is generally fine. Larger renovation work, especially structural or extended vacancy during a flip, usually requires builders risk.

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Real Estate Investors · Landlord

Landlord Insurance — DP-3 for Long-Term Florida Rentals

A homeowner policy assumes the owner lives in the home. A landlord policy is built around a non-owner-occupied dwelling with a long-term tenant — building, landlord-owned contents, premises liability, and loss of rental income. We help Florida landlords pick between DP-1, DP-2, and DP-3 forms by shopping 100+ carriers on the landlord's behalf.

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At a Glance

Form: DP-1, DP-2, or DP-3
Occupancy: Long-term tenant
Loss of rents: 12 months typical
Liability: $300K – $1M GL

Quick answer

Ellie Insurance Group is an independent business insurance agency (founded 2014, headquartered in Tampa, Florida) that shops 100+ carrier markets to place landlord insurance — property, premises liability, loss of rents, and (in Florida) separate wind and flood coverage — for real estate investors and landlords. As an independent broker we compare real quotes side by side across competing markets, including E&S options for vacant, fix-and-flip, and coastal property. Start an Instant Quote and a licensed agent shops your portfolio for you.

Coverage

What landlord insurance usually covers

Dwelling (DP-3)
Open-perils, replacement-cost coverage on the rented dwelling — the most common form for newer Florida rentals.
DP-1 / DP-2 alternatives
Named-perils or broad-form coverage for older homes, vacant property, or properties that do not qualify for DP-3.
Other structures
Detached sheds, fences, driveways, and similar structures owned by the landlord.
Landlord-owned contents
Appliances, maintenance equipment, and any furniture provided by the landlord — not the tenant's belongings.
Loss of rents
Replaces covered rental income while the unit is uninhabitable due to a covered loss — usually for 12 months.
Premises liability
Bodily injury or property damage claims from tenants, guests, or visitors arising out of the rental property.
Ordinance or law
Code-upgrade costs after a covered loss — common need on older Florida buildings.

Common gaps

What it typically won't cover

Tenant-owned property and personal belongings (covered by tenant's renters insurance)
Vacancy beyond 60 days without a vacancy endorsement or vacant-property policy
Short-term rental use (requires a separate STR program)
Flood (separate NFIP or private flood policy required)
Hurricane and wind in some coastal Florida zones (separate wind market)
Wear and tear, mold without a covered cause of loss, and intentional damage

Pricing

What drives premium

Construction & age

Masonry/CBS rates better than frame. Post-2000 builds rate better than older homes without updates.

Roof age & material

Florida thresholds at 15, 20, and 25 years drive eligibility. Wind mitigation form helps.

Location & wind zone

Coastal counties may require a wind-eligible market or separate wind policy.

Tenant profile

Market-rate, Section 8, or student housing — each shifts the underwriting view.

Loss history

Two prior water losses or a liability claim can remove preferred markets.

Limits & deductibles

Replacement cost, hurricane deductible, and liability limit selections directly affect premium.

Quote checklist

What we'll need to quote

Quote checklist

What we'll need to quote

Property address and ownership entity name (LLC or individual)
Year built, construction type, square footage
Roof age, material, and most recent replacement date
Lease type, term, and current monthly rent
Replacement cost or recent appraisal
Wind mitigation form and four-point inspection (Florida)
5-year loss runs from prior carrier
Mortgage / lender mortgagee clause information

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FAQ

Frequently Asked Questions

Usually no. Homeowner forms require owner occupancy. Once a property is rented out long-term, a landlord (DP-1, DP-2, or DP-3) policy is the proper fit.
DP-1 is named-perils, DP-2 is broad-form named-perils, and DP-3 is the most common open-perils replacement-cost form for newer Florida rentals.
No — DP-3 is built around long-term tenants. Short-term rental use requires a separate STR program, and using a DP-3 for an STR can void coverage.
Name the LLC as the insured. We can list members as additional insureds. Most lenders require it for properties held in an LLC.
No. Loss of rents pays rental income only when a covered property loss makes the unit uninhabitable. It does not cover ordinary vacancy or a tenant who simply stops paying.
Most lenders require flood in mapped flood zones, and FEMA recommends it broadly. Standard landlord policies do not include flood.
Umbrella should be reviewed when an investor owns multiple properties, has higher lease limit requirements, or wants liability above the underlying landlord GL.
Minor maintenance is generally fine. Larger renovation work, especially structural or extended vacancy during a flip, usually requires builders risk.

Keep reading

Explore related coverage

Real Estate Investor Hub

All investor property types and programs.

Commercial Property

Building and contents fundamentals.

General Liability

Premises liability for landlords and owners.

Flood Insurance

Separate policy for flood exposure in Florida.

Umbrella Liability

Higher liability limits for multi-property portfolios.

Builders Risk

Coverage during renovation and construction.

Sources

Authoritative references

Coverage descriptions and regulatory figures on this page are general summaries reviewed against the references above and are not a statement of coverage, legal advice, or a guarantee of eligibility or price. Last reviewed June 30, 2026. Requirements and policy terms change — always confirm current rules with the relevant agency and verify coverage against the actual policy and a licensed agent.

Deeper reading on this coverage

Industry guidance

Real Estate Investor Insurance: DP-3, Vacant, Fix & Flip, and STR Programs

How to insure rentals, vacant homes, flips, STRs, and apartment buildings — with the carriers, limits, and rate drivers that matter.

Operations

Business Insurance Checklist: A 12-Point Annual Review

A 12-point checklist for a real annual review — not a quote shop.

Carrier access

Access to 100+ A-rated commercial markets

As an independent agency we shop 100+ admitted and surplus-lines carrier markets — so the carrier competes for your business, not the other way around.