Do You Need Extra Coverage for Duplex and Triplex Rentals?
- Nate Jones, CPCU, ARM, CLCS, AU
- 4 hours ago
- 2 min read
Owning a duplex or triplex can be a smart real estate investment, offering steady rental income and long-term appreciation. But with multiple tenants and units under one roof, these properties come with unique risks that standard homeowner's insurance doesn’t cover. If you're renting out one or more units, you’ll need extra coverage to protect your property, income, and liability.
Here’s what you need to know about insuring duplexes and triplexes—and how Wexford Insurance can help you safeguard your investment.
Why Standard Homeowners Insurance Isn’t Enough
Homeowners insurance is designed for owner-occupied properties. Once you start renting out units, you’re running a business—and that means you need landlord insurance. Without it, claims related to tenant-caused damage, liability, or rental income loss may be denied.
Essential Coverage for Duplex and Triplex Rentals
1. Dwelling Coverage
Protects the structure of your property—walls, roof, foundation, and attached features like garages or decks. Covers damage from fire, storms, vandalism, and more.
2. Liability Protection
If a tenant or visitor is injured on your property, liability insurance covers legal fees, medical bills, and settlements. This is especially important in multi-unit buildings with higher foot traffic.
3. Loss of Rental Income
If your property becomes uninhabitable due to a covered event (e.g., fire or burst pipe), this coverage reimburses you for lost rent during repairs.
4. Personal Property Coverage
If you furnish units or provide appliances, this protects landlord-owned items from damage or theft.
5. Optional Add-Ons
Depending on your location and property type, consider:
Flood or earthquake insurance
Vandalism and theft coverage
Ordinance or law coverage (for code upgrades)
Umbrella liability insurance for added protection
Owner-Occupied vs. Fully Rented Properties
Owner-Occupied Duplex/Triplex: If you live in one unit and rent out the others, you may need a hybrid policy that combines homeowners and landlord insurance.
Fully Rented Properties: You’ll need a full landlord insurance policy that covers all units and tenants.
How Wexford Insurance Supports Multi-Unit Property Owners
At Wexford Insurance, we specialize in rental property coverage for:
Duplexes, triplexes, and quadplexes
Condos, townhomes, and cabins
Short-term and long-term rentals
Our policies protect against property damage, liability claims, and loss of rental income, giving landlords peace of mind and financial security.
Final Thoughts
Duplexes and triplexes offer great rental potential—but they also require specialized insurance. With the right coverage, you can protect your property, income, and legal interests. Wexford Insurance is here to help you navigate the complexities and keep your investment safe. Connect today!
FAQs
Q: Can I use homeowners' insurance if I live in one unit of a duplex?
A: Only partially. You’ll need landlord insurance for the rented unit.
Q: What if both units are rented out?
A: You’ll need a full landlord insurance policy covering all units and tenants.
Q: Is umbrella insurance necessary for duplex owners?
A: It’s recommended for added liability protection, especially in high-risk areas.
