Chapter 4 Dwelling Policy Flashcards
Basic form coverage is also known as what
DP-1 - The perils insured against are fire, lightning, and internal explosion.
basic form coverage can have an additional premium added. what is this called and what are some of the things this covers.
EC or extended coverage can cover some things such as hail explosion riots aircraft or vehicles smoke and even VOLCANOS
broad form coverage is also known as what.
DP-2 - The perils insured against are the DP–1 perils, the EC perils, VMm
What does VMM stand for
Vandalism and Malicious Mischief
Dp-3 is what kind of form
Special form - Coverage for the dwelling and other structures is provided on an open perils basis
under the dp-3 form what is the maximum amount of days a house may be vacant while still being covvered
60 days
while coverage a covers dwelling. what does coverage b cover
Other structures
Examples include a detached garage, shed, pool, and an outdoor storage building.
coverage for personal property is known as what.
coverage c
fair rental value is what of the coverages.
Coverage D - Coverage D provides insurance for indirect losses that occur as a result of direct losses to property insured under Coverages A, B, or C that are covered by the policy.
coverage E is also known as
additional living expenses - The policy pays any necessary increases in living expenses incurred by the named insured when a covered loss makes the unit in which the named insured lives uninhabitable.
Automatic Increase in Insurance Endorsement or DP 0411 is also referred to as what
Inflation Gaurd Endorsment
when is broad theft coverage allowed
when the described location is owner occupied
when is limited theft coverage allowed
when it is renter occupied
