Who typically purchases a dwelling policy?

A dwelling policy is specifically designed to provide insurance coverage for residential properties that are not owner-occupied, making it ideal for landlords or owners of rental properties. This type of policy offers protection against risks such as fire, vandalism, and certain liability issues that landlords may encounter.

Individuals seeking comprehensive home coverage typically opt for homeowners insurance, which includes additional protections like personal property coverage and liability for the homeowner’s personal assets. Owners of high-value personal residences generally require more specialized insurance coverage, often referred to as high-value home insurance, which includes unique features tailored to expensive properties. Businesses needing liability insurance would look for commercial policies that address their specific operational risks, rather than a dwelling policy.

In summary, the dwelling policy is primarily aimed at those who rent out properties, making landlords or owners of rental properties the typical purchasers of this type of coverage.