A standard homeowners policy doesn’t cover a rental property — even if you rent out just one room. Landlord insurance (DP-3) is built specifically for NC rental property owners, covering the dwelling, your liability, and your rental income when tenants can’t occupy the unit. ALLCHOICE Insurance compares options across multiple top-rated carriers for Clemmons landlords.
NC Landlord Coverage Benchmarks Lender-required
NC state law does not require landlord insurance — but your mortgage lender will if the property is financed
Personal liability — recommended minimum; consider a landlord umbrella if you own multiple properties
Replacement cost dwelling coverage — required by most lenders; ACV pays far less at claim time
Require tenants to carry their own renters insurance — it protects their belongings and reduces your liability exposure
Many NC landlords don’t know that standard homeowners policies include a vacancy clause — typically 60 days — that can void coverage when a rental property is unoccupied between tenants. A DP-3 landlord policy is written for properties that may have periodic vacancy and includes loss-of-rent coverage that homeowners policies don’t provide. Your ALLCHOICE advisor will identify any vacancy issues on your current policy before you have a claim.
Core coverage
Core coverage
Core coverage
Core coverage
Optional coverage
Separate policy required
Did you know?
Most standard homeowners policies include a vacancy clause that voids coverage — or reduces it to fire-only — after a property is unoccupied for 60 consecutive days. Rental properties routinely have turnover gaps between tenants that can exceed 60 days. A DP-3 landlord policy is written specifically for properties with periodic vacancy and does not carry the same 60-day vacancy restriction. If you’re using a homeowners policy on a rental property, verify your vacancy clause before your next tenant gap.
Landlord insurance pricing and eligibility vary significantly by carrier, property type, tenant profile, and location. ALLCHOICE compares DP-3 options across multiple top-rated carriers to find the right policy for your specific rental property — and identifies any coverage gaps (flood, vacancy, short-term rental) before they become claim surprises.
We compare DP-3 pricing across multiple carriers for your specific property type, location, and tenant profile — so you see real options, not one company’s standard offer.
Landlords with multiple properties often have coverage gaps and overlapping policies. We review your full rental portfolio and find the most efficient coverage structure.
We review your current policies for vacancy clauses, flood exclusions, and short-term rental restrictions — before a claim reveals a gap that could have been closed.
If your rental property has a loss, your ALLCHOICE advisor works on your behalf — not the carrier’s. A local relationship, not a 1-800 number.
No. Standard homeowners policies exclude rental activity. Once you rent a property to tenants — even on a short-term basis — your homeowners policy can deny claims related to tenant occupancy. A DP-3 landlord policy is required for any property regularly occupied by tenants.
Yes — and many Clemmons landlords make it a lease condition. Requiring renters insurance protects tenants’ belongings (which your landlord policy doesn’t cover), reduces the likelihood of tenants pursuing you for property damage claims, and shifts the liability for tenant-caused damage to the tenant’s own policy. It’s one of the simplest risk management steps a Clemmons landlord can take.
Standard DP-3 landlord policies are designed for long-term residential tenants, not nightly or weekly vacation rental operations. Short-term rentals typically require a separate short-term rental policy or a specific endorsement. If you’re using a standard DP-3 or homeowners policy for an Airbnb property, verify that the policy explicitly covers short-term rental activity — many don’t.
Loss of rental income coverage pays the monthly rent you lose when a covered loss makes your rental property uninhabitable while repairs are completed. The limit should reflect at least 12 months of gross rental income — enough to cover a complete rebuild scenario. Many landlords underestimate how long a major repair takes and set their loss-of-rent limit too low.
We compare DP-3 options for your rental property type, location, and tenant profile across multiple top-rated carriers. Takes about five minutes to get started.
Log in to the Member Center to review your current landlord policy, add a new rental property, or check for vacancy and flood coverage gaps.
