Landlord & Dwelling Insurance in Ohio (Long-Term Rental Properties)
Owning a rental property can be a great way to build wealth — but it also comes with unique risks that a standard homeowners policy doesn’t cover. At Graziano & Lorince Insurance, we help landlords across Ohio protect their investments with properly structured landlord and dwelling fire insurance designed for long-term rentals.
From our home office in Sagamore Hills, we serve landlords in Macedonia, Northfield, Twinsburg, Brecksville, Hudson, and throughout Northeast Ohio — as well as rental property owners anywhere in the state of Ohio.
Get a Landlord Insurance Quote
What Is Landlord / Dwelling Insurance?
A landlord or “dwelling fire” policy is built for properties that you own but do not live in. It’s different from a homeowners policy and is designed around tenant-occupied or non-owner-occupied properties.
Typical properties we insure include:
- Single-family rental homes
- Duplexes, triplexes, and four-family homes
- Student rentals and long-term roommate situations
- Small portfolios of 1–4 family rentals
- Homes between tenants or under light renovation (case by case)
If you live in one unit and rent out the others, or you also need coverage for your primary home, we can pair this with a homeowners policy and even a personal umbrella policy for extra liability protection.
Key Coverages on a Landlord / Dwelling Policy
Every carrier is a little different, but most landlord policies in Ohio are built around these core coverages:
Dwelling Coverage – This is the protection for the structure itself — walls, roof, attached garage, and built-in features. It helps pay to repair or rebuild the rental after a covered loss such as fire, wind, or other covered perils.
Other Structures – Covers detached garages, sheds, fences, and similar structures on the property that are not attached to the main building.
Landlord’s Personal Property – Covers the items you own and leave for tenant use, such as appliances, lawn equipment you store on site, or common-area furnishings (where applicable). It does not cover your tenant’s belongings — they need their own renters insurance.
Loss of Rents (Fair Rental Value) – If a covered claim makes the home unfit to live in and your tenant has to move out during repairs, this coverage can reimburse you for the lost rental income for a period of time, subject to policy limits.
Premises Liability – Protects you if a tenant, guest, or even a contractor is injured on the property and you are held legally responsible. This can also cover certain property damage you’re liable for. Many landlords increase this limit and/or add an umbrella policy for extra protection.
Medical Payments – Provides a small amount of no-fault medical coverage for minor injuries that occur on the property.
Basic, Broad, and Special Forms (DP-1, DP-2, DP-3)
Landlord and dwelling policies often come in different “forms” of coverage. We’ll explain these in plain English before you choose, but here’s the general idea:
- DP-1 – Basic Form: Named perils only (a short list of specific causes of loss), often with actual cash value settlement. Usually the most limited coverage.
- DP-2 – Broad Form: Broader list of named perils and better protection than DP-1, sometimes with more favorable settlement terms.
- DP-3 – Special Form: Often the strongest coverage available for many rental properties, with “all risk” style coverage on the dwelling (subject to exclusions) and more robust protection.
Not every property qualifies for every form — age of the home, condition, location, and occupancy all matter. That’s where our experience with Ohio rental properties comes in.
Vacancy, Renovations & New Purchases
Many landlords are surprised to learn that vacancy matters. A property sitting empty for too long can change the way coverage applies.
We can help with:
- Properties between tenants (short-term vacancy)
- Homes under renovation before being rented
- New purchases that will be rented after repairs
In some cases, you may need a vacant dwelling or renovation policy first, then a landlord policy once the home is ready for tenants. We’ll talk through your timeline and recommend the right structure.
Common Mistakes Landlords Make (And How We Help You Avoid Them)
- Using a homeowners policy on a rental. Once a property is tenant-occupied, it generally needs a landlord/dwelling policy — not a homeowners policy.
- Under-insuring the dwelling. Setting the limit to loan amount or purchase price instead of true replacement cost.
- No loss of rents coverage. A fire or major loss could leave you with no rental income during repairs.
- Not requiring renters insurance. Tenants should cover their own belongings and personal liability.
- Ignoring liability limits. A slip-and-fall or injury claim can be costly. Many landlords benefit from higher liability limits and an umbrella policy.
Our job is to walk you through these issues before something happens — not after.
Who We Help
We work with:
- First-time landlords with a single rental home
- Owners with several single-family or small multi-family units
- Parents with college rentals for students
- Investors rehabbing older homes and turning them into rentals
- Landlords transitioning a former primary home into a rental
If you also own a primary residence, vehicles, or other personal lines policies, we can help you coordinate everything under one roof with homeowners, auto, and umbrella insurance.
Note on short-term rentals: This page is focused on traditional long-term rentals. If you use your property for Airbnb, VRBO, or other short-term stays, see our Short-Term & Airbnb Rental Insurance page (coming soon).
Landlord / Dwelling Insurance FAQs
Do I need a landlord policy if I only have one rental house?
Yes. If you don’t live in the home and it’s tenant-occupied, it usually needs a landlord or dwelling policy, even if you only own one property.
Is my tenant’s stuff covered by my landlord policy?
No. Your policy covers the building and certain items you own, but not your tenant’s personal belongings. We strongly encourage tenants to carry their own renters insurance.
Will my policy cover lost rent if there’s a fire or major claim?
That depends on whether you have loss of rents coverage and what limit you chose. We make sure to address this when quoting your landlord policy.
Can you insure older homes or properties in urban areas?
Often yes, but it depends on condition, updates, and occupancy. We work with multiple carriers that understand older housing stock in Ohio, including urban properties. We’ll review your specific situation.
What about a home that’s vacant while I’m rehabbing it?
You may need a specific vacant or renovation dwelling policy during the rehab period, then switch to a landlord policy once a tenant is in place. We can help set up that progression.
Can I bundle landlord insurance with my home and auto?
Sometimes, depending on the carrier and how everything is structured. In many cases we can still package your personal lines and rental properties across a handful of carriers to maximize coverage and pricing.
Have a question that isn’t listed here? Just ask us — we’re happy to explain the details in plain English.
