DP-3 vs. DP-2/1 for rental property insurance

[Lisa S.]

Hi all,

I'm a new investor, and am considering various options for homeowner's insurance. My business partners and I (yes, we're all newbies...) got some varying information from brokers about what we would need for our rental property - a SFH in Austin, in a decent suburban neighborhood.

One broker said that DP-1 would just not be enough for an investment, and that other brokers will quote you for that because it's the lowest cost, but if we qualify for a DP-3, we should get it.

What does the community think?