What is a DP1 home insurance policy?

A DP1 policy is a type of home insurance that protects rental or vacant homes from nine named perils, typically for its actual cash value rather than its replacement cost. What is a DP1 policy? A DP1 policy, also called Dwelling Fire Form 1, is a type of home insurance policy that protects a house from nine named perils – most notably fire.

Do I need a DP1 insurance policy?

You might need a DP1 insurance policy. DP1 policies are the most basic form of insurance available in the United States for rental properties or homes that are vacant most of the time. You might also hear it called Dwelling Fire Form 1 insurance. These policies are suited for properties that aren’t eligible for typical homeowners policies.

What is a DP1 fire insurance policy?

While there are several different types of dwelling fire policies available to property owners, DP1s are one of the most common and most popular among homeowners who need a basic insurance policy. DP1 policies are named peril policies. A peril policy covers events explicitly named in your policy.