Ins & Outs of Duplex Insurance Ultimate Guide to Duplex Insurance: What Every Owner Should Know Owning a duplex offers unique opportunities and challenges, especially when it comes to protecting your property with the right duplex insurance. Whether you occupy one unit, rent out both, or live in one and lease the other, having the correct coverage helps safeguard your investment from unexpected events. What Is Duplex Insurance? Duplex insurance is a specialized type of property coverage tailored for buildings with two separate living units. Unlike a standard homeowners policy designed for a single-family home, duplex insurance accounts for multiple units, tenant liability, and potential rental income loss. How Insurance Works for Duplex Owners Your insurance needs depend on how you use the duplex: Owner-occupied with a rental unit: You’ll need a homeowners policy that includes coverage for rental property as well as liability protection for tenants. Not renting either unit: A regular homeowners insurance plan can be sufficient if you live in both units and do not rent them out. Fully rented duplex: If both units are leased to tenants, landlord or dwelling fire insurance—key forms of duplex insurance—provide structure coverage plus liability protection and loss of rental income. Key Coverages to Consider When choosing duplex insurance, consider the following important protections: Property damage coverage: Protects the structure of the duplex from fire, wind, hail, theft, and other covered risks. Liability protection: Covers legal costs if someone is injured on your property. Loss of rent: Reimburses you if tenants must temporarily relocate due to a covered claim. Additional endorsements: Depending on your area, you may need flood, earthquake, or other supplemental insurance not included in a basic policy. Tips for Choosing the Right Duplex Insurance Policy 1. Evaluate occupancy and use: Be clear about whether you are living in the duplex or renting it out, as this directly affects the type of duplex insurance you need. 2. Work with an experienced agent: A knowledgeable insurance professional can help you find coverage that fits both your property type and financial goals. 3. Review your policy annually: As your rental situation or property value changes, adjust your duplex insurance to maintain proper protection. Get the Right Duplex Insurance Today Protect your duplex with coverage tailored to your property’s unique risks. Whether you are an owner occupant or full time landlord, expert guidance can help you choose the right duplex insurance policy. Contact Action Insurance Group at 360-892-1630 today to review your options and request a personalized quote.