Which landlord insurance do you have - DP1 vs DP3, agreed cash value vs replacement, deductible?

[Brian C.]

I'm about to move out of my duplex and rent both units, so I'm switching from homeowners to landlord/dwelling insurance.  I've read about DP1 and DP3 policies, using an agreed cash value instead of new replacement, and the possibility of using a high deductible if you plan to use the insurance in case of a total loss only.  What do you use and why?