Duplex Insurance

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Purchasing duplex insurance depends on the use and ownership of the residence. Duplex insurance will change if the entire building is owned by one person versus each section having separate owners. Insurance options change based on the use and ownership if the duplex:

• One owner plus the option of renting
• One owner plus occupied renter
• Two owners (each owning one residential section within the duplex)

Types of Policies

Home insurance is standardized to different policies depending on the type of residence and type of insurance needed. The standard policies are numbered HO-1 through HO-8 and cover single family homes through condominiums and mobile homes. Policy summaries are as follows:

HO-1– covers only against the standard disasters (this policy is no longer an option in most states)

• Fire or lightning
• Windstorm or hail
• Explosion
• Riot or civil commotion
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke
• Vandalism or malicious mischief
• Theft
• Volcanic eruption

HO-2 – covers for the same disasters as HO-1 plus:

• Falling objects
• Weight of ice, snow, or sleet
• Water damage from within the home
• Cracking, burning, or tearing apart of water heater or air conditioning system
• Freezing of plumbing features
• Accidental damage from artificial electrical current

HO-3 – the most popular duplex insurance policy – covers all of the above perils plus any other peril with the exception of (special insurance can be purchased for some of the natural disasters listed below)

• War
• Flood
• Earthquake
• Landslide
• Mudslide
• Other perils listed in policy

• HO-4 – Renters insurance to protect possessions
• HO-5– a version of HO-3 but covers more losses and depths of incidents
• HO-6 – Condominium insurance to protect possessions and parts of the structure that are owned by the tenant/condo owner. The homeowners association may have an umbrella insurance to cover parts of the building not individually owned.
HO-7– for mobile home owners
• HO-8– Older home insurance designed to make insurance affordable for older homes based on their market value as opposed to a rebuilding cost.

Duplex Insurance Coverage

If the Duplex has a single owner with no renters than the owner can choose between standard home insurance policies. In this case duplex insurance would consist of the standard disaster insurance of individual residences. The HO-3 policy would be the standard policy for duplex insurance under these circumstances.

If the Duplex owner rents out one residential or both residential units, then the owner needs to purchase additional insurance to the standard homeowners policy. Higher amounts of liability insurance are encouraged in addition to property insurance. Owners should also encourage tenants to purchase renters insurance under the HO-4 policy.

Duplexes that are sold in units (as opposed to the entire building sold as one unit) are usually considered condominiums if there is a homeowners’ association that covers the building. In this case, duplex insurance is purchased under the HO-6 condominium insurance. Depending on state policies and laws, duplexes are sometimes categorized with four-plexes and condominiums. If the duplex is sold in units but there is no homeowners’ association policy that covers the building, then each resident owner must purchase individual homeowners policies.

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