What is Dwelling Fire Insurance?
Dwelling Fire Insurance is the policy purchased by a landlord of a residential residence that is not occupied by the owner.  Typically these properties are inhabited by tenants.   These policies usually contain coverage for property of the owner, as well as liability in the event of injury to resident or visitor of property.

What does Fire Insurance cover?
Property fire coverage provides protection for the owner of the dwelling in the event of fire, water damage, or burglary. Property coverage under these policies is typically limited to the property of the owner. The tenant needs to obtain their own Renters Insurance to secure coverage for their personally owned items.

Liability coverage is also available under a Florida Dwelling Insurance policy. The liability component of this policy provides protection for the landlord in the event on an accident or injury sustained by the tenant or others while in or around the dwelling.

What are additional coverage options?
While Florida Dwelling Insurance policies don’t have as many available options as Homeowners Insurance policies, there are some important endorsements available. Typically, the additional premium cost for these endorsements are minimal. The following are some of the more common additional coverage options:

  • Loss of Rent Coverage – When a dwelling is damaged due to a covered loss and is uninhabitable, this coverage will provide payment in the amount of loss of rental income to the property owner for a certain period of time.
  • Other Structure Coverage – This endorsement extends coverage to unattached buildings on the property, such as garages, sheds, and barns.
  • Ordinance or Law Coverage – This endorsement increases coverage to include rebuilding of damaged or destroyed structures to current building code standards.
  • Replacement Cost Coverage – This endorsement provides an enhanced level of protection, which mandates that the insurance carrier pay for current construction of dwelling without deducting for depreciation.

What discounts are available for Florida Dwelling Fire Insurance?
The following are a list of the more common policy discounts available on Florida Dwelling Fire policies:

  • Home Safety – Provides a discount for fire and burglar alarm, smoke detectors, and other safety related upgrades to structure.
  • Loss Free Discount – Provides a discount for not having any insurance claims for a certain period of time.
  • Multi Policy discount – Many insurance carriers will apply a discount when you have multiple policies with their company.

Is Florida Dwelling Insurance mandatory?
While insurance is not mandated by law for standard residences, properties that have a mortgage are required by the bank to have Dwelling Fire Insurance.