DP1 DWELLING PROPERTY Flashcards
Settlement Option-ACV
IF “OTHER INSURANCE” exists, policy pays on a “Pro Rata” basis.
Coverage A - DWELLING
Including permanently installed building equipment and outdoor equipment to service property.
Coverage B - OTHER STRUCTURES
(Detached) - Excluding commercial use, (Owner may store commercial Equipment owned)
Coverage C - PERSONAL PROPERTY
Belonging to insured, family members, guest or servant, no coverage for roomers boarders and other tenants.
coverage D - FAIR RENTAL VALUE
Rental monies wich insured is entitled due to covered loss until property is restored.
Coverage E - IS NOT AUTOMATIC
May be selected if desired - Additional coverage and automatic under DP-2 & 3
Named Perils
FIRE, LIGHTNING, PLUS INTERNAL EXPLOTION (REFERRED TO AS FIRE).
Add Florida Mandatory Endorsment : CATASTROPHIC GROUND COVER COLLAPSE CGCC
May Prchased
1) Extended coverage- WHARVES (Suspends glass & crime when Bldg is vacant for 60 days) AND
2) Vandalism or Malicious Mischief - VMM (Only if EC is purchased)
May Purchased
1) Extended coverage- WHARVES (Suspends glass & crime when Bldg is vacant for 60 days) AND
2) Vandalism or Malicious Mischief - VMM (Only if EC is purchased)
Extended Coverage - WHARVES
WINDSTORM: Excluding awnings, antennas,signs and boats, interior damage w/o exterior damage.
HAIL (granizo), AIRCRAFT (aeronave), RIOT or Civil commotion, VEHICLES, EXPLOSION (except steam pipe or steam boiler) SMOKE (sudden acidental smoke, excluding fireplaces & ind. operations)
Exclusions - WOPER
WATER damage by flood, back up of sewers, underground seepage, ORDINANCE or laws where enforcement causes increases in constrution cost- POWER interruption damage if power source is away from premises, EARTH movement other than CGCC, REBELLION, Revolution, insurrection,war, government action.
EXCLUSIONES - WOPER
AGUA daño por inundación, copia de seguridad de alcantarillas, filtración subterránea, ORDENANZA o leyes donde la aplicación causa aumentos en el costo de construcción- POTENCIA interrupción de daños si la fuente de energía está fuera de las instalaciones, movimiento de tierra que no sea CGCC, REBELIÓN, revolución, insurrección, guerra, gobierno acción.