Any Reason to Not Write Dp3 Vs Ho3

[indienoise]

I doubt it's the same carrier whose premium for dp3 is half of ho3...does this carrier not offer ho3? Are you sure the actual policy is truly comparable from one carrier's dp form to another's ho???

For example, today I quoted the largest home I've had the opportunity on. The premium difference between the best coverage ho5 and the least expensive ho3 was $3k...but since these were two different carriers the difference between the policies was WAY more than just perils and settlement value of personal property...be certain you know all the differences between carrier offerings and limitations. That can be more important than simply differences in policy forms.

 

[WolfpackAgent]

We write DP3's through American Modern and they do offer liability MOST of the time.

And I've seen a DP3 be cheaper than a HO3, often when there is low/no contents coverage and the credit or loss history is poor. Neither may be the case here, but that's where I've seen it.

 

[Markthebroker]

Dp3 is tenant occupied. Ho3 is owner occupied. I don't understand what the discussion is about. What am I missing?

 

[WolfpackAgent]

In NC and SC we can do an owner-occupied DP3. It may be a state issue.

 

[Markthebroker]

In NC and SC we can do an owner-occupied DP3. It may be a state issue.

Ahh. Ok. Yeah, here in California DP3 is tenant occupied, Ho3 is owner occupied; pretty black and white here.