How Home Insurance Is Handled in a Duplex

Though duplexes aren’t as common as they once were, they are still coveted. These unique buildings accommodate multiple families and feature a barrier for privacy.

The question begs: how are duplexes insured? The Sirover Agency, LLC, serving Wayne, PA, has the answer.

Insuring a Duplex

Duplex insurance, similar to home insurance, is available for duplexes. Also referred to as multi-family insurance, duplex insurance provides sufficient coverage for duplex owners. This unique form of insurance differs from conventional homeowners insurance as it accounts for the nuanced aspects of owning a building with one or several tenants.

Whether you and your relatives occupy both sides of a duplex or if you rent out half the duplex, duplex insurance is necessary. The coverage applies to the duplex structure, personal items and even liability protection. Moreover, if there is a rental unit on one side, additional coverage is available for that space.

Homeowners Insurance in the Context of Duplexes

In some instances, it might be possible to insure a duplex with a conventional homeowners insurance policy. If you are not renting your duplex and you live in one or both of the duplex units, do your due diligence. You might find a regular homeowners insurance policy will cover the building. 

However, if you rent one or both of the duplex sides, you’ll need a landlord insurance policy or a dwelling fire insurance policy. Such coverage is applicable to the structure, loss of rental income and liability. This coverage is a financial lifesaver in the event of the property becoming uninhabitable should an unfortunate event occur.

The Sirover Agency, LLC Is on Your Side

Serving Wayne, PA, our insurance team offers extensive coverage without busting your budget. Give us a call for more information about our coverage options including your customized insurance quote.