Which type of property insurance is designed for rental properties?

Prepare for the Idaho Property Insurance Test. Leverage flashcards and multiple choice questions, each offering hints and explanations. Ensure you're exam-ready with our comprehensive study resources!

Dwelling fire insurance is specifically tailored for rental properties, making it the correct choice. This type of insurance provides coverage for the structure of the property itself, addressing risks associated with fire and other hazards, while excluding personal belongings of tenants. It's designed for properties that are not owner-occupied, which means it's ideal for landlords who lease out their properties.

Homeowners insurance, on the other hand, is meant for owner-occupied residences and includes personal liability and personal property coverage for the homeowner, which wouldn’t be applicable to rental situations. Condo insurance is focused on condominium units, providing coverage primarily for the individual unit and personal belongings, but it does not cover the entire structure as needed for rental properties. Comprehensive coverage typically refers to a type of auto insurance that covers a variety of risks beyond collision, rather than property insurance for rental properties.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy