Updated over 1 year ago on . Most recent reply
Home owners insurance for Owner occupied Duplex
Hello everyone!
I am getting ready to close on a property in the couple weeks. It’s time to look into home owners/rental insurance. I will be living in one unit and renting the other unit out. I am confused whether I should have HO3 vs DP1/DP2 for the insurance. I’ve received multiple quotes from insurance companies (mainly I would obtain the quotes myself). For my personal education, which one insurance should I have? I am aware that since I’m renting one unit out I need a landlord policy, but can my policy be HO3 or does it have to be DP1?
Thanks for your help