Looking for the Best Landlord Insurance in Louisiana?
Call Jeff Davis Insurance at 337-824-4455. We specialize in underwriting landlord insurance in New Orleans and the entire state of Louisiana and we can help you find the best coverage options for your needs.
Click on New Orleans Landlord Insurance to submit your information to us online for single-family residential units.
How Can Cheap Landlord Insurance in New Orleans Burn You Financially?
Sometimes property investors in efforts to reduce their expenses for landlord insurance step down their coverage by switching from the Dwelling Fire 3 Special Policy Form, to a Dwelling Fire 2 Broad Form, or Dwelling Fire 1 Basic Form.
Taking such a step without properly understanding the differences in coverage could result in either a claim denial or it could make it necessary for you to pay tens of thousands of dollars out of pocket at claims time!
What’s The Difference in Policy Forms for Landlord Insurance in Louisiana?
Dwelling Fire 3 Special Policy Form offers the best insurance protection for landlord insurance in Louisiana as it includes the replacement cost settlement option plus it removes the names perils clause provision found in the Dwelling Fire 1 and 2 policies.
If you step down your insurance protection from the Dwelling Fire 3 Special Policy Form (DF3) to the Dwelling Fire 2 Broad Form (DF2) what are you giving up?
Dwelling Form Three Special Policy States This:
We insure against risk of direct physical loss to property described in Coverages A and B.
Dwelling Fire Two Broad Form States This:
We cover direct physical loss to property insured under Coverage A – Dwelling and Coverage B caused by:
What’s the Difference?
Two simple words: Caused by.
The Dwelling Fire 2 Broad Form is a named perils policy. Your claim will be covered under this policy only as long as the claim is named in the policy, hence it is often referred to as a named perils policy.
Any claim occurring to your property under the DF2 Policy Form that is not named in the policy is simply not covered.
The DF2 Policy Form typically extends coverage for 15 different types of claim events. Some of the most common claims are covered such as fire or wind (don’t forget you also have a hurricane deductible for your property) vandalism, damage caused by vehicles or aircraft, falling objects, accidental discharge or overflow of water or steam, freezing of plumbing or heating, air-conditioning, sprinkler system, water heater, or household appliances, and the weight of ice snow or sleet that damages your building. (See your exact policy for details)
Good Advice Is Why You Need Jeff Davis Insurance for Landlord Insurance in Louisiana.
Some property owners to save money have degraded their coverage without understanding the ramifications of their actions until they receive a quick education at claims time.
Call Jeff Davis Insurance today at 337-824-4455 when you need landlord insurance in New Orleans. We can help you choose the best options for your individual needs.
We also offer landlord insurance in the following areas:
- Landlord Insurance Baton Rouge
- Shreveport Landlord Insurance
- Landlord Insurance Lafayette Louisiana
- Metairie Terrace Landlord Insurance
- Lake Charles Landlord Insurance
- Landlord Insurance Kenner
- Bossier Landlord Insurance
- Landlord Insurance Monroe Louisiana
- Jennings Landlord Insurance