Coverage Form DP Form structure

Question 1

Agreements

Answer 1

insuring agreement (states that the insurer will provide coverage described in the policy in return for the premium paid and compliance with all applicable policy provisions);

Question 2

Definitions

Answer 2

Limited in nature

Question 3

Deductible

Answer 3

applies to all covered losses unless noted otherwise in the policy form;

Question 4

Coverages, including other coverages

Answer 4

define direct and indirect property coverages, and additional coverages included in the premium charge;

Question 5

Perils Insured Against

Answer 5

Vary by form and is a key differentiator in form selection;

Question 6

General exclusions

Answer 6

Perils not covered in all forms

Question 7

Conditions

Answer 7

Specify when coverage will apply

Question 8

Availavle Forms

Answer 8

-Basic: DP 00 01 or DP1 Named Peril
-Broad: DP 00 02 or DP2 - Named Peril
-Special: DP 00 03 or DP3 - Open and Named Peril

Question 9

Fire or Lightning & Internal Explosions

Answer 9

Takes place in a dwelling, other structure, or in a structure containing covered personal property will be covered. Must be hostile Fire - non intentional

Question 10

Extended Coverage Perils (Additional Premium)

Answer 10

Basic form, only activated if included on declarations page