Dwelling Policies

Question 1

Dwelling Policies

Answer 1

Developed by the ISO as a property coverage form. Can be used to insure dwelling, contents, or both. 3 types: Basic, broad, and special. Is classiefied with number DP-1, DP-2, etc.

Question 2

Dwelling Property Policy

Answer 2

-Up to 5 roomers or boarders
-up to 4 residential units
-Properties in course of construction
-Owner or tenant occupied, or both
-Mobile homes basic only, no more than one apartment. located at permanent location
- Seasonal dwellings unoccupied for 3 or more months during a 12 -month period
-not designed as a farm property

Question 3

Business Occupancies

Answer 3

-may impact eligibility under dwelling property program
-accommodated as long as their incidental, conducted by the insured, no more than 2 persons working at any time.
-Permissible incidental occupancies include small service operations where sales of merchandise are not primary function such as barber beauty shops, shoe repair, offices, private schools, music studios, etc

Question 4

Coverage Forms

Answer 4

3 coverage forms applicable to the dwelling property policy define the coverages, perils, or causes of loss insured against, other coveragess, exclusions and conditions.