Protecting your rental property requires more than a standard homeowners policy. Our dwelling fire policy is specifically designed for landlords, whether you own a single rental dwelling or require apartment fire insurance coverage for multiple units. 

This specialized fire dwelling insurance safeguards your investment, covering the physical structure from fire and other covered perils, and protecting your financial future as a property owner.

How Much DP3 Insurance Coverage Do I Need?

The right coverage limit for your rental property is a critical business calculation. It is not based on market value, but on the full replacement cost, what it would actually cost to rebuild the structure from the ground up after a total loss.

An OKFB agent specializing in investment properties will help you determine the proper coverage for three key areas:

  1. The Dwelling: The full cost to rebuild the physical structure.
  2. Your Liability: A limit high enough to protect your personal assets from a lawsuit originating at the rental property.
  3. Your Lost Rents: Coverage for the rental income you would lose while the property is being repaired after a covered loss.

This ensures your entire investment, not just the building, is protected.

Dwelling Fire Insurance Coverage Options & Features

Dwelling Coverage (Coverage A – Protecting Your Building)

This is the core protection for your investment. It covers the cost to repair or rebuild the physical structure of your rental property if it’s damaged by a covered peril.

Other structures coverage (Coverage B)

This extends coverage to other structures on your rental property that are separate from the main dwelling, such as a detached garage, shed, or fence.

Landlord’s Personal Property (Coverage C)

This is not for the tenant’s belongings. This coverage protects your personal property that is kept at the rental for service or use, such as your lawnmower, appliances, or other equipment you own and leave on-site covered under the insurance.

Loss of rent (Coverage D)

This is critical income protection. If a covered loss (like a fire) makes your property uninhabitable, this helps replace the rental income you lose while the property is being repaired or rebuilt, protecting your cash flow.

Personal liability coverage (Coverage L)

This is your essential shield against lawsuits. It protects your personal assets if a tenant or their guest is injured on your rental property and you are found legally responsible.

Medical Payments to Others (Coverage M)

This provides “goodwill” coverage for minor medical expenses if a tenant or guest is accidentally injured on your property, regardless of who is at fault.

Insurance Credits & Discounts

We offer a premium discount to Dwelling Fire – Tenant Occupied policyholders who qualify.

Approved Roof Discount

If you have a U.L. rated class 3 or 4 roof surfacing installed, you may be eligible for a discount. Check here for a list of approved* roof surfacing.

*Please note that list may not be comprehensive. Always check with an OKFB agent to see if your roof surfacing qualifies.

Planning on installing a new roof?

If you are planning on installing a roof that is eligible for a discount, have your roofer complete this certificate, and then submit it to your agent.

PAYMENT OPTIONS & PREFERENCES

Convenient Payment Options

We offer many ways to conveniently pay your premiums. Choose from a full payment, quarterly payments or a monthly automatic draft from your bank account. Check with an OKFB agent to see which option may be best for you.

Do you need to change your premium payment preferences?

We understand life happens. That’s why we allow our policyholders to easily update their payment preferences. Contact your OKFB agent to make a change.