Chapter 4 - Homeowners DP-1 Basic Form

Question 1

For dwelling/homeowners policies what is the max residential units?

Answer 1

4

Question 2

For dwelling/homeowners policies what is the max boarders?

Answer 2

5

Question 3

Mobile homes are eligible as long as they have a fixed/permanent foundation under what section?

Answer 3

DP -1 only

Question 4

Schools, studios, offices are permitted if primary use is _______

Answer 4

Residential

Question 5

Are farms allowed on homeowners policies?

Answer 5

No

Question 6

What are the DP’s?

Answer 6

DP-1 - Basic Form
DP-2 - Broad Form
DP-3 - Special Form

Question 7

DP-1 - Basic Form covers (3)?

Answer 7

Fire, lightning and internal explosion

Question 8

DP-1 Basic Form is the only DP that allows ____ _____

Answer 8

Mobile homes - permanently affixed

Question 9

DP-1 - Basic Form has optional extended coverage options that can be added to the declarations page for added premiums. What is the acronym?

Answer 9

W
E
R
A
S
V
V

Question 10

DP-1 - Basic Form optional extended coverage - W?

Answer 10

Windstorm/hail

Question 11

DP-1 - Basic Form optional extended coverage - E?

Answer 11

External explosion

Question 12

DP-1 - Basic Form optional extended coverage - R?

Answer 12

Riot/civil commotion

Question 13

DP-1 - Basic Form optional extended coverage - A?

Answer 13

Aircraft/vehicles

Question 14

DP-1 - Basic Form optional extended coverage - S?

Answer 14

Smoke

Question 15

DP-1 - Basic Form optional extended coverage - VV?

Answer 15

Volcanic eruption & vandalism or malicious mischief VMM (vandalism in vacant buildings over 60 days is not covered)

Question 16

Losses paid on

Answer 16

ACV actual cash value for both dwelling and personal property