Landlord Insurance in Ohio: DP-1 vs DP-2 vs DP-3

If you own a rental property in Columbus, Pickerington, Reynoldsburg, or anywhere else in Ohio, the policy on it is almost certainly called a Dwelling Fire (DP) policy — not a homeowners policy. There are three flavors, and most landlords don't know which one they actually have until they file a claim.

DP-1 — Basic Form

The cheapest, weakest option. Covers only "named perils" like fire, lightning, explosion, and (sometimes) vandalism. Loss settlement is Actual Cash Value by default — depreciation will be deducted from every claim.

Skip unless: the dwelling is in such poor condition no carrier will write a better policy.

DP-2 — Broad Form

Expands coverage to a longer list of named perils — burst pipes, falling objects, weight of ice/snow, accidental water discharge, and more. Usually written on a Replacement Cost basis for the dwelling.

Good for: stabilized rentals where you want solid coverage without paying for top-of-the-line.

DP-3 — Special Form

The most comprehensive. Covers the dwelling on an "open perils" basis — meaning anything is covered unless specifically excluded. Replacement cost on the building. This is what most professional investors carry.

Best for: the vast majority of single-family and small multi-family rentals in Ohio.

What's Usually NOT Included (and Should Be Added)

• Liability — minimum $300K, ideally $500K + umbrella.
• Loss of Rents (Fair Rental Value) — pays your rent while the unit is uninhabitable after a covered loss.
• Vandalism & Malicious Mischief (sometimes excluded on vacant or non-DP-3 forms).
• Building ordinance or law — covers code-upgrade costs when rebuilding older properties.
• Service Line coverage — buried water/sewer line breaks (huge in older Columbus neighborhoods).

Common Ohio Landlord Mistakes We Fix

1. Carrying a homeowners policy on a property they've started renting out — most are void as soon as the tenant moves in.
2. $100,000 liability limits on a property in a high-traffic neighborhood. One slip-and-fall can exceed that easily.
3. No Loss of Rents — leaving 6+ months of lost income uncovered after a fire.
4. Buying a DP-1 because it was the cheapest quote, then losing $30,000 on a depreciated roof claim.

What Most Ohio Rentals Should Carry

For a typical $250,000 single-family rental in central Ohio, we usually recommend:

• DP-3 policy, Replacement Cost on dwelling, $500K liability.
• Loss of Rents equal to at least 12 months of rent.
• $2,500–$5,000 deductible (sweet spot for premium vs. exposure).
• $1M umbrella sitting over the entire portfolio.

How We Help Landlords

We write rental policies through carriers including Foremost, Travelers, Steadily, Progressive, and Nationwide. Multi-property portfolios get scheduled onto a single policy with one renewal date — saving you premium and paperwork.

Want a free policy audit on your rental(s)? Call (614) 647-7093 or request a landlord quote. We'll review your current declarations page line by line and quote 4+ carriers within one business day.