Landlord & rental property insurance in Kentucky and Florida

If you own a rental, you need landlord insurance, also called a dwelling or DP-3 policy, built for a home someone else lives in. It's different from the homeowners policy on the house you live in, different from vacant property coverage when nobody lives there, and different from renters insurance, which protects the tenant. Asshield™ is an independent agency with offices in Lexington, KY and Fort Walton Beach, FL, and we compare landlord policies from several carriers.

Online quote KY (859) 368-0162 FL (850) 684-0164

DP-3 vs. homeowners, in plain words

A homeowners policy (HO-3) assumes you live in the home. Once a tenant moves in, most homeowners policies no longer fit. A dwelling policy, often called a DP-3 or dwelling fire form, insures the building on a broad basis, adds landlord liability and medical payments when chosen, and can include loss of rents after a covered loss. It doesn't cover the tenant's belongings.

Landlord insurance in Kentucky

We insure single-family rentals, duplexes and small multi-unit buildings in Lexington and across Kentucky from our office at 2240 Executive Dr Ste 103, Lexington, KY 40505, (859) 368-0162.

What Kentucky landlords usually need:

• Dwelling coverage for the building, with a wind and hail deductible you could pay after a spring storm
• Landlord liability and medical payments for injuries on the property, like a fall on icy steps or a broken stair
• Loss of rents (fair rental value) if a covered loss makes the unit unlivable
• Your own appliances and furnishings in the rental, not the tenant's belongings
• Water backup for basements and floor drains, which is usually an add-on
• Separate flood coverage for properties near creeks or in mapped flood zones. See flood insurance.

Common Kentucky rental situations we see:

• Student rentals near UK and EKU: more occupants, more turnover and more liability questions. Tell us how many tenants and how the lease is set up.
• Older homes in Lexington's established neighborhoods: roof age, wiring and plumbing updates decide which carriers will write them.
• Duplexes and small multi-family buildings in Lexington, Richmond and Georgetown.
• Rentals in nearby towns like Nicholasville, Winchester, Paris and Versailles, where some homes sit on acreage with outbuildings.
• A former home turned into a rental: your homeowners policy usually needs to be replaced with a landlord policy once a tenant moves in. Tell us before the lease starts.

Kentucky landlord carriers we compare include Travelers, Grange, Steadily and National General (by Allstate). Availability depends on the property, its condition and underwriting.

Owners with several rentals should look at an umbrella policy for liability above each dwelling policy. Also see Kentucky homeowners insurance.

Landlord insurance in Florida

What Florida landlords usually need

• Dwelling coverage for the structure, with a hurricane deductible you could pay
• Landlord liability and medical payments for injuries on the property
• Loss of rents (fair rental value) after a covered loss
• Coverage for your own appliances and furnishings in the rental
• Ordinance or law, for code upgrades after a loss
• Separate flood insurance; see flood insurance

Security First Dwelling Landlord (DF3-DL)

Security First's Dwelling Landlord policy is built for 1–4 family rental homes. According to Security First (Dwelling Landlord policy):

• You can add coverage for theft, ordinance or law, premises liability, and medical payments.
• Loss of use pays for lost rental income while the home is uninhabitable after a covered loss.
• Contents coverage is for your property in the home, not your tenant's belongings, and it's settled at actual cash value.
• Homes with an older roof that may not qualify for a standard homeowners policy could be eligible.
• Long-term and short-term rentals, including Airbnb and VRBO, are listed with a two-night minimum; condotels are excluded.

Ask us for a Security First quote. Competitive options from Security First and other carriers we compare are side by side in one call. More on our Security First page.

Subject to Security First Insurance Company underwriting. Coverage, eligibility and rates depend on Security First's underwriting and policy terms. Asshield™ is an independent agency; we are not Security First Insurance Company.

Long-term vs. short-term rentals

Tell us how the home is rented. A year-long lease, a seasonal rental, and nightly Airbnb guests are different risks, and carriers treat them differently. For vacation rentals, see short-term rental and Airbnb insurance in Florida.

Tenants need renters insurance

Your policy won't cover the tenant's furniture, clothes, or electronics. Many Florida landlords require renters insurance in the lease.

Vacant between tenants?

Long vacancies can limit coverage. If the home will sit empty during renovation or between tenants, see vacant property insurance.

What landlord carriers look at

• Roof age and condition, with receipts for updates
• Wiring, plumbing and heating updates
• Wind mitigation features on Florida rentals
• Occupancy: long-term, student, seasonal or short-term
• The deductibles you choose
• Prior claims

Questions we hear

Do I need landlord insurance for a rental home in Kentucky?

If you rent a home to tenants, a homeowners policy usually no longer fits. A landlord (dwelling or DP-3) policy is built for rentals, and a lender will typically require proper coverage.

What is a DP-3 policy?

A dwelling fire form that insures a rental building on a broad basis, with options such as landlord liability and loss of rents.

Does landlord insurance cover my tenant's belongings?

No. Tenants need their own renters insurance, and many landlords require it in the lease.

Can you insure a student rental near UK or EKU?

Often, yes. Carriers ask how many tenants, how the lease is structured and the home's condition. Tell us the details and we'll find the companies that write it.

Does Security First write landlord policies in Florida?

Yes. Security First offers a Dwelling Landlord (DF3-DL) policy for 1–4 family homes in Florida, subject to Security First Insurance Company underwriting.

Educational only — not a quote, not legal advice, and not a coverage guarantee. Coverage, eligibility, and pricing are set by each carrier and vary by ZIP, property or driver details, and underwriting. Talk with a licensed Asshield™ agent about what fits your situation.