Dwelling ('02) Policy and Homeowners Policy

Front

What is the purpose of the Dwelling Policy (DP)?

Back

The Dwelling Policy is designed to insure 1–4 unit residential properties that are not eligible for a homeowners policy due to factors like age, location, or occupancy. It can cover owner-occupied or tenant-occupied dwellings, including those under construction or used for limited business purposes.

Front

What does the Basic Form (DP 00 01) cover?

Back

Named peril coverage for fire, lightning, and internal explosion. Optional Extended Coverage (EC) and Vandalism & Malicious Mischief (VMM) can be added.

Front

What additional perils are covered under the Broad Form (DP 00 02)?

Back

Includes all Basic perils plus 7 additional perils like falling objects, weight of ice/snow, and accidental discharge of water.

Front

What is covered under the Special Form (DP 00 03)?

Back

Open peril coverage for the dwelling and other structures; named peril for personal property. Excludes wear and tear, mold, and intentional acts.

Front

What does Coverage A — Dwelling include?

Back

Covers the main structure and attached fixtures.

Front

What does Coverage B — Other Structures include?

Back

Covers detached structures like sheds or garages.

Front

What does Coverage C — Personal Property include?

Back

Covers contents owned by the insured.

Front

What does Coverage D — Fair Rental Value cover?

Back

Covers lost rental income due to a covered loss.

Front

What does Coverage E — Additional Living Expense cover?

Back

Covers increased living costs after a covered loss (DP-2 and DP-3 only).

Front

What are some general exclusions in the DP forms?

Back

Excludes losses from earth movement, water damage (flood, sewer backup), neglect, war, nuclear hazard, intentional loss, and governmental action.