Home Insurance for Duplexes – Cheap Texas Quotes


Home insurance for duplexes works a bit differently than a standard home insurance policy. Texas has plenty of duplexes, townhomes, and multi-family properties throughout. For the owners of such properties, it’s important to know how to keep your investment protected in the event of a loss.

Freedom Insurance Group is here to help landlords, entrepreneurs, and homeowners protect their investments adequately, with coverage that is there for them when they need it. Learn more about finding the right coverage type, understanding the cost associated, and how to keep your premiums as low as possible.


How To Know When You Need Home Insurance for Duplexes

It doesn’t take long to realize that when it comes to home insurance for duplexes, there are plenty of options available. No, we’re not just talking about different brands and carriers, there are different types and each covers you differently.

This is because coverage needs, while they always change from home to home, are much more unique when you throw in these types of properties. There are more considerations at stake including where the owner lives, whether or not there are renters, etc.

Finding the right policy is going to come down to several of these factors and the amount of risk tolerance you have as a homeowner. In some cases, an HO3 policy (standard home insurance policy) will work best, while for others, a DP-3 policy (dwelling fire policy) will work better.

Generally, if you own a duplex or townhome but don’t live at the property, a DP-3 policy will suffice. Likewise, if it’s your residence, the HO3 policy is the route you’ll want to take. Either way, some sort of insurance policy is always advised, for several reasons:

  • If you have a mortgage on the property, virtually every lender will require an adequate level of insurance.
  • Property insurance is in place to protect you and your finances in the event you suffer a major loss.
  • There is also a need to cover yourself from liability risks that can arise while visitors are on your property.
  • If you are renting the property, you’re going to need to protect against the loss of income should your tenants become unable to pay or the home is no longer in a livable condition.

Before enrolling in any coverage, it’s always advised that homeowners speak with a licensed insurance agent, when it comes to home insurance for duplexes, the sentiment is raised even higher.

There are a ton of variables and the last thing you’ll want to do is lack coverage during a time you need it the most. Homeowners in Texas can find good home insurance rates for duplex properties without skipping on coverage by shopping around and consulting with professionals.


How Much Is Insurance for a Duplex in Texas?

The cost of home insurance for duplexes can vary on a number of factors. In many cases, your coverage is cheaper than that of traditional home insurance coverage. Here are some of the main factors that will affect how much you pay:

  • The age of the property and its condition
  • Where the duplex or townhome is located
  • The amount of coverage you require as well as the type of policy that is needed
  • Your deductible
  • Personal factors including your credit score
  • The discounts you qualify for

These factors are all going to play a role in how carriers calculate your rate. Some of them you can control, some of them you cannot, and each carrier is going to assess them differently. But it really comes down to risk and coverage. The more risk you pose as a threat and the more coverage you need, the more you can expect to pay, and vice versa.

However because there are so many variables and because each company assesses them differently, it’s always a good idea to shop among multiple brands.

You’ll notice that even for the same coverage, your price for duplex insurance can vary greatly. Therefore, it’s always recommended that homeowners take the time to shop and compare rates.


Understanding DP-3 Policies

If you’re unfamiliar with a DP-3 policy, they are similar to traditional home insurance policies, however, they offer less coverage. Specifically, they protect you on an open peril basis and with a replacement cost value (RCV). Again, close to homeowners insurance, but focused more on protecting the structure of your duplex, possibly against liability, and not much else.

A standard home insurance policy is going to protect your home, other structures, personal property, liability issues, and other areas. Both have exclusions, such as flood insurance, but depending on your situation, one may be better than the other. To learn more, click the link to explore DP-3 policies in Texas further.


How To Find Quotes for Home Insurance for Duplexes in Texas


If you’re looking for a quote for duplex insurance, we can help. Receiving a quote is important, but because there are so many coverage options available, it’s also important to have several quotes to compare among different brands. That’s where our agents come in.

Working with more than 25 top-rated insurance carriers throughout Texas, our partnerships allow us to shop and compare your coverage instantly among reliable providers. This means you’ll enjoy the best rates for the coverage you need.

Shopping among individual carriers for duplex insurance is important but can be a time-consuming process going from brand to brand, but it doesn’t have to be. Get a homeowners/landlord insurance quote online with no obligation, or contact an agent for home insurance for duplexes today!

Contact Us

Freedom Insurance Group
3861 Long Prairie Rd Ste 110
Flower Mound, TX 75028
Phone: (972) 798-3769


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