Dwelling Policy Flashcards by Kerri Burriss

What coverage is personal property covered under with dwelling?
A.	Coverage A
B.	Coverage B
C.	Coverage C
D.	Coverage D
E.	Coverage E

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What coverage is additional living expenses covered under with dwelling?
A.	Coverage A
B.	Coverage B
C.	Coverage C
D.	Coverage D
E.	Coverage E

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What coverage is dwelling covered under with dwelling?
A.	Coverage A
B.	Coverage B
C.	Coverage C
D.	Coverage D
E.	Coverage E

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What coverage is fair rental value covered under with dwelling?
A.	Coverage A
B.	Coverage B
C.	Coverage C
D.	Coverage D
E.	Coverage E

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What coverage is other structures covered under with dwelling?
A.	Coverage A
B.	Coverage B
C.	Coverage C
D.	Coverage D
E.	Coverage E

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Which of the following statements is true concerning the special form dwelling policy?
A. Coverage A is for all-risk perils, and Coverage C is for basic perils only
B. Coverage A is for all-risk perils, and Coverage C is for the broad form perils.
C. Both Coverage A and Coverage C are provided on an all-risk basis.
D. Both Coverage A and Coverage C are provided for the broad form perils.

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Which of the following dwelling policy forms primarily insures a structure on an actual cash value basis?
A.	DP-1
B.	DP-2
C.	DP-3
D.	All DP forms

A (DP-2 and DP-3 insure the structure on a replacement cost basis.)

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Vandalism and malicious mischief would be covered if the insured’s premises have been vacant for no more than how many days?
A.	30
B.	60
C.	100
D.	365

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If an insured is in the process of moving to a new location, his personal property coverage under the dwelling policy will apply on a pro rata basis at both locations for
A.	30 days
B.	60 days
C.	90 days
D.	5 days

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All of the following are other coverages included in both the broad and special form dwelling policy EXCEPT
A.	Theft of personal property
B.	Collapse
C.	Breakage of glass
D.	Lawns, trees, shrubs, and plants

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Which of the following claims would be included under the dwelling policy?
A. Fire damage to a garage located on the insured premises used as an auto repair shop
B. Theft of the insured’s auto from the detached garage
C. Death to the insured’s pet caused by smoke inhalation
D. Fire damage to the insured’s rowboat stored in the attached garage

D (Rowboats and canoes are covered under the dwelling policy as personal property)

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Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss?
A.	10 days
B.	30 days
C.	45 days
D.	60 days

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All of the following are characteristics of the dwelling policy EXCEPT
A. Dwellings up to four family units are eligible
B. The dwelling must be owner-occupied
C. Coverage includes the dwelling only, contents only, or both
D. Incidental occupancy of limited service-type exposure is permitted

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Assuming the insurer and the insured agree to the amount payable for a loss covered under a dwelling policy, how soon after the insurer has received proof of loss must it make payment?
A.	30 days
B.	45 days
C.	60 days
D.	90 days

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Dwelling policy Coverage C – Personal Property will cover all of the following EXCEPT
A.	Hobby aircraft
B.	Computer software
C.	Canoes
D.	Animals and birds

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Which of the following would provide coverage for loss of income when an insured rental dwelling is rendered uninhabitable because of a covered loss? 
A.	Coverage C
B.	Coverage D
C.	Coverage A
D.	Coverage B

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On a DP-3 Dwelling Property Special Form policy, the coverage provided for personal property is
A. The same as provided on the DP-1 Basic Form
B. The same as provided on the DP-2 Broad Form
C. All rish
D. Open peril

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A basic dwelling policy automatically provides coverage against fire, lightning, and
A.	Smoke
B.	Riot
C.	Windstorm
D.	Internal Explosion

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In which of the following situations would off-premises coverage in a broad theft endorsement of the insured’s dwelling policy apply?
A. The insured’s live-in maid’s quarters are burglarized
B. The insured’s china set is stolen from her home while she’s traveling on business
C. The insured’s vacuum cleaner is stolen from her apartment
D. The insured’s cameral is stolen from his suitcase while he is on vacation

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All of the following are perils covered under the broad form dwelling policy EXCEPT
A.	Collapse
B.	Theft
C.	Fire
D.	Lightning

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An insured has a special form dwelling policy written for $100,000 on a dwelling.  The dwelling’s replacement cost is $115,000.  Fire causes $75,000 in damage to the dwelling, $15,000 damage to a separate garage, and kills 10 trees valued at $600 each.  How much will the policy pay for the trees?
A.	$5,000
B.	$10,000
C.	$60,000
D.	$75,000

A. Trees, shrubs, and plants are covered, limited to not more then $500 for any one tree or plant, and not to exceed 5% of Coverage A in total (in this example, $5,000)

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What is the maximum number of roomers or boarders for properties insured under the dwelling policy?
A.	2
B.	3
C.	5
D.	6

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Which of the following property coverages would provide protection to contents damaged by fire?
A.	Coverage B
B.	Coverage C
C.	Coverage D
D.	Coverage A

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If an insured is in the process of moving to a new location, his personal property coverage under the dwelling policy will apply on a pro rata basis at both locations for
A.	60 days
B.	90 days
C.	5 days
D.	30 days

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Under a dwelling policy, which of the following is NOT a factor in determining a loss? A. The amount negotiated by the insured B. The policy limit C. The amount reflecting the insured’s interest in the property at the time of loss D. The amount necessary to repair or replace the property

``` Which of the following dwelling coverage forms would pay replacement cost for the dwelling? A. DP-3 only B. All dwelling property coverage forms C. DP-1 D. DP-2 and DP-3 ```

``` All of the following are perils covered under the broad form dwelling policy EXCEPT A. Lightning B. Collapse C. Theft D. Fire ```

In a dwelling policy, which of the following is true regarding personal liability coverage? A. It is the same as in homeowners policies B. It must be added as a supplement or written as a separate policy C. It does not cover medical payments to others D. It is included in all dwelling policies

Which of the following other coverages is NOT included in the basic form dwelling policy? A. Tenant’s improvements, alterations, and additions B. Breakage of glass C. Removal coverage D. Personal property temporarily away from the insured premises

B (Breakage of glass is included in the DP-2 and DP-3 only)

Under the dwelling policy, Coverage C – Personal Property is A. Automatically provided as 50% of Coverage A B. A prohibited coverage in the dwelling form C. Limited to 50% of the amount of insurance that is written as Coverage A D. Limited to covering a servant’s property while at the insured location

What type of property would NOT be covered under the dwelling policy special form Coverage A-Dwelling? A. Outdoor equipment located on the premises and used to service the location B. Attached structures C. Land on which the dwelling is located D. Materials and supplies on the premises used to alter or repair the dwelling

Which of the following is NOT true concerning the fair rental value coverage provided in a dwelling policy? A. Coverage continues until repairs are completed B. The period of time to repair or replace is not limited by the expiration date of the policy C. Loss or expense caused by the cancellation of a lease is covered D. It pays for the loss of rent you would have collected less any expenses that would not have continued

In a dwelling policy, which of the following other structures would be covered? A. Used by the insured to house a manufacturing operation B. Rented to a neighbor for use as a private garage C. Used as part of a farming operation D. Used by the insured in which to operate a retail business

Which of the following would be covered under the Broad Form (DP-2) policy’s falling object peril? A. Exterior pavement and patio damage B. Interior building damage if the exterior was damaged first C. Damage to the building’s awnings D. Damage to outdoor television antennas if there is no interior damage

Which of the following statements is true concerning the special form dwelling policy? A. Both Coverage A and Coverage C are provided for the broad form perils. B. Coverage A is for all-risk perils and Coverage C is for basic perils only. C. Coverage A is for all-risk perils and Coverage C is for broad form perils D. Both Coverage A and Coverage C are provided on an all-risk basis.

Which of the following other coverages is NOT included in the basic form dwelling policy? A. Breakage of glass B. Removal coverage C. Personal property temporarily away from the insured premises D. Tenant’s improvements, alterations, and additions

Replacement cost coverage is provided in both the broad and special form dwelling policies when A. The amount of insurance on the dwelling is at least 90% of its replacement cost when the policy is written B. The dwelling is insured for 100% of its replacement cost at the time of a loss C. The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss D. The amount of insurance on both the dwelling and personal property is at least 80% of its replacement cost when the policy is written

``` If an insurer makes a change to broaden coverage in a dwelling policy while it is in effect, the changes will apply A. Automatically B. When the new policy is written C. When the policy is up for renewal D. Within 60 days ```

``` The broad theft coverage endorsement on the dwelling form specifies all of the following limitations EXCEPT A. $1,500 on securities B. $1,500 on jewelry C. $1,000 on silverware D. $200 on money ```

``` Under the additional living expenses coverage, if a civil authority prohibits the insured from using the dwelling because of direct damage to a neighboring location from a peril covered in the insured’s policy, loss would be covered for up to A. 90 days B. 1 week C. 2 weeks D. 1 month ```

Which of the following is true of dwelling policy coverage? A. Exclusions only apply to broad policy forms B. There are no exclusions in basic forms C. Special forms only have special exclusions D. Exclusions apply to all three policy forms

``` The removal coverage that is included in the broad form dwelling policy will cover property temporarily removed from the premises to protect it from damage for how long? A. 5 days B. 15 days C. 30 days D. 60 days ```

How much is the premium for the dwelling under construction endorsement under the dwelling policy? A. 50% of the actual value premium B. The average amount of insurance during construction C. 75% of the gross premium D. The full value of the house

Under which of the following conditions can broad theft coverage be added to a dwelling policy? A. Broad theft coverage cannot be added to a dwelling policy B. If the policy has been effect for 60 days C. If the insured is owner-occupant of the dwelling D. If permission is granted by the department of insurance

If more than one person has an insurable interest in the property covered under a dwelling policy A. Liability will be split evenly among all people who have insurable interest B. All involved insurers must decide which one will be liable for the loss C. All insureds must decide which one will be liable for the loss D. The insurer will be liable for only the insured’s interest in the damaged property

All of the following would be eligible for coverage under a dwelling policy EXCEPT A. A house that has 5 residential units B. A tenant-occupied dwelling C. A dwelling in the course of construction D. A duplex with one primary owner

``` Which of the following dwelling coverages would provide coverage to a garage not attached to the primary insured dwelling? A. Coverage B B. Coverage C C. Coverage E D. Coverage A ```

``` Assuming the insurer and the insured agree to the amount payable for a loss covered under a dwelling policy, how soon after the insurer has received proof of loss must it make payment? A. 30 days B. 45 days C. 60 days D. 90 days ```

In a dwelling policy, which of the following other structures would be covered? A. Used by the insured in which to operate a retail business B. Used by the insured to house a manufacturing operation C. Rented to a neighbor for use as a private garage D. Used as part of a farming operation

An insured’s house is damaged by a fire and is uninhabitable. As a result, the insured has to rent an apartment until repairs are made. A dwelling insurance policy will pay for the expense of renting the apartment. Which type of broad or special form coverage does this insured have? A. Coverage D – Fair Rental Value B. Coverage E – Additional Living Expense C. Coverage A – Dwelling D. Coverage B – Other Structures

``` Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss? A. 10 days B. 30 days C. 45 days D. 60 days ```

``` An insured owns a large dog. The first day he has to leave the dog home alone to go to work, the insured comes back to find his $400 couch torn apart, his $100 coffee table chewed up, his $50 window curtain shredded, and a $200 window pane shattered where his dog jumped through. The insured has personal property coverage under a special form dwelling policy. How much of this loss will the policy cover? A. $0 B. $200 C. $250 D. $750 ```

``` If an insured is in the process of moving to a new location, his personal property coverage under the dwelling policy will apply on a pro rata basis at both locations for A. 30 days B. 60 days C. 90 days D. 5 days ```

``` What is the legal defense that can be used in most states in which proportionate damages may be awarded when both the plaintiff and defendant were negligent? A. Relative degree of damage statute B. Contributory negligence C. Proximate cause D. Comparative negligence ```

``` After a storm dumps several inches of snow, an insured spends several hours clearing his sidewalk and driveway. Later that night it begins to sleet. Before the insured can clear his walks again, his neighbor slips and falls while walking past the insured’s house, breaking his arm. Which defense will reduce recovery for his neighbor’s injury? A. Intervening cause B. Contributory negligence C. Comparative negligence D. Statute of limitations ```

``` Rates that are established based on the similarities of the risk with other risks are known as A. Experience rates B. “A” rates C. Merit rates D. Manual rates ```

``` Which rating method provides an insurer with that portion of a rate that does not include provisions of expenses (other than adjusting expense) or profit and is based on historical aggregate loss and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time? A. Loss costs rating B. Provision rating C. Profit rating D. Components rating ```

In property insurance, actual cash value is defined as which of the following? A. Market value of the property at the time of the loss B. Stated value of the property as shown on the declaration C. The actual amount of a loss payable, less the policy deductible D. Replacement cost at the time of the loss, less depreciation

``` Which of the following is used in the formula for calculating the actual cash value of a property? A. Stated value B. Fair market value C. Agreed value D. Replacement cost ```

``` In the event of a loss covered by the policy, if the insurer requests a signed sworn proof of loss, the named insured is required to submit it within A. A specified time B. 1 year C. 5 business days D. 30 days ```

``` All of the following are considered parts of the policy structure EXCEPT A. Conditions B. Provisions C. Exclusions D. Insuring clause ```

A mortgage company is named as a loss payee on the insured’s homeowners policy under the standard mortgage clause. If the insured suffers a loss due to a fire, which of the following is true? A. The loss is payable to the insured and the mortgagee B. The mortgagee should submit a claim to its insurer and the insured should submit a claim to the HO policy C. The entire loss is payable to the mortgagee D. The entire loss is payable to the insured

``` Which rating method provides an insurer with that portion of a rate that does not include provisions of expenses (other than adjusting expense) or profit and is based on historical aggregate loss and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time? A. Provision rating B. Profit rating C. Components rating D. Loss costs rating ```

``` If the insurer nonrenews a homeowners policy during the hurricane season, how many days notice must the insurer provide to the policyowner? A. 10 days B. 30 days C. 60 days D. 90 days ```

``` With regard to fire insurance premiums, structures with which of the following type of construction would most likely have the most favorable premium rate for the peril of fire? A. Noncombustible B. Fire-resistive C. Frame D. Masonry ```

``` The legal process that gives the insurer, after payment of a loss, the right to seek recovery from a third party that was responsible for the loss is known as A. Adverse selection B. Right of rescission C. Principle of indemnity D. Subrogation ```

Under the dwelling policy, which of the following is NOT a factor in determining a loss? A. The policy limit B. The amount reflecting the insured’s interest in the property at the time of loss C. The amount necessary to repair or replace the property D. The amount negotiated by the insured

``` In a dwelling policy, which of the following provides coverage for additional living expenses incurred by an owner-occupant in the event a covered peril makes the premises uninhabitable due to a covered loss? A. Coverage E B. Coverage A C. Coverage B D. Coverage C ```

Which of the following losses would most likely NOT be covered under Coverage A in the dwelling policy? A. Theft of a renter’s lawnmower used to service the premises B. Fire damage to building material on the premises C. Outdoor personal property of the insured D. Supplies used for repair of the dwelling

``` In dwelling policies, automatic increase in insurance is A. Coverage for newly acquired property B. Coverage by endorsement C. Automatic coverage D. Coverage without additional premium ```

``` All of the following are exclusions that apply in all three types of Dwelling Policies EXCEPT A. Earth movement B. Fire or lightning C. Government action D. Water damage ```

``` The removal coverage included in the broad form dwelling policy will cover property temporarily removed from the premises to protect it from damage for how long? A. 5 days B. 15 days C. 30 days D. 60 days ```

Which property has the following key features: 1. Up to 4 residential units 2. Up to 5 roomers/boarders 3. Owner or tenant occupied 4. Not for farm property 5. Incidental business - not more than 2 persons working 6. Mobile homes, if permanently located on private lot 7. Can insure dwelling under construction A. Dwelling Policy B. Homeowners Policy

Losses paid on actual value basis and covers fire, lightning, and internal explosion. A. DP-1 Basic Form B. DP-2 Broad Form C. DP-3 Special Form

Which options under DP-1 Basic Form are the following options are available for an additional premium by doing an endorsement: windstorm/hail, explosion, smoke, aircraft/vehicles, riot/civil commotion, volcanic eruption. A. Option 1 B. Option 2

Which one of the following endorsements can be added to DP-1 Basic Form Option 2 for an additional premium? A. Windstorm/Hail B. Vandalism and malicious mischief C. Volcanic eruption D. Aircraft/Vehicles

Which dwelling form do losses on a replacement cost basis as long as insured maintains a minimum amount of coverage equal to 80% of the dwelling replacement cost? A. DP-1 Basic Form B. DP-2 Broad Form C. DP-3 Special Form

Which dwelling coverage form contains coverage which includes burglary, falling objects, artificially generated electricity, weight of ice, snow, or sleet, accidental discharge or overflow, tearing apart, cracking, burning, or bulging, and freezing of plumbing? A. DP-1 Basic Form B. DP-2 Broad Form C. DP-3 Special Form

Which form can you purchase the following additional coverages on: lawn, trees, shrubs, and plants, glass breakage, and collapse (excludes settling, cracking, shrinkage, bulging, or expansion)? A. DP-1 Basic Form B. DP-2 Broad Form C. DP-3 Special Form

How much will the insurance pay for lawns, trees, shrubs, and plants? A. $1,000 each, max of 5% of dwelling B. $250 each, max of 5% each dwelling C. $500 each, max of 5% of each dwelling

How much is covered if money, bank notes, bullion, gold, silver (excluding goldware and silverware), platinum, coins and other metals are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if securities, accounts, deeds, evidences of debt, letters of credit, notes other than bank notes, manuscripts, passports, tickets, and stamps are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if watercraft and their trailers, furnishings, equipment, and outboard motors are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if other trailers are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if jewelry, watches, furs, and precious and semiprecious stones are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if firearms and related equipment are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

How much is covered if silver and silver-plated ware, gold and gold-plated ware and pewterware (e.g. tea sets, trays, trophies) are stolen (under dwelling coverage DP-2 Broad Theft Coverage - Additional Endorsement)? A. $200 B. $500 C. $1500 D. $2500

Which dwelling form is it that all perils are insured against EXCEPT those specifically excluded? A. DP-1 Basic Form B. DP-2 Broad Form C. DP-3 Special Form

Which coverage is NOT included in the DP1-Basic Form unless added by endorsement? A. Coverage C - Personal Property B. Coverage A - Dwelling C. Coverage E - Additional Living Expenses D. Other Structures

Which statement is true concerning Dwelling policies? A 100% of Coverage C applies to worldwide coverage B The Special Form insures the dwelling on an open perils basis, and insures the contents against the broad form perils C The Special Form automatically covers the contents against the peril of theft D The Basic Form pays for losses to the dwelling on a replacement cost basis

B (The Special Form insures the dwelling on an open perils basis, and insures the contents against the broad form perils. Theft is excluded. The Basic Form settles losses to the dwelling on an ACV basis. Up to 10% of the Coverage C limit may be applied to covered property anywhere in the world.)

Which DP form does not cover burglar damage? A None of the Dwelling Policies cover damage done by burglars ``` B Broad Form (DP-2) ``` ``` C Basic Form (DP-1) ``` ``` D Special Form (DP-3) ```

C (Damage by burglars is covered only in the broader Forms DP-2 and DP-3.)

Which of the following coverages is not included in the Basic Dwelling Form? A Fair Rental Value B Property moved to a Newly Acquired Residence C Personal Property Coverage on a World-Wide basis D Additional Living Expenses

D (The Basic Dwelling Form (DP-1) does not provide Coverage for Additional Living Expenses unless added by endorsement.)

Which of the following is false regarding the Broad Theft Endorsement under the Dwelling policy? A It includes vandalism resulting from theft B It may be added to any of the Dwelling forms C Only on-premises coverage is available D It applies only to owner-occupied structures

C (The Broad Form Theft endorsement is attached to owner-occupied Dwelling policies to provide theft coverage for the owner-occupant's Personal Property. On-premises and off-premises coverage is available.)

Which of the following is true regarding the Personal Liability Supplement? A It covers Professional Services rendered by the insured B It covers the insured's personal autos C The Limit of Liability is the same as the Coverage A amount D It provides coverage for claim expenses, first aid expenses and damage to property of others

D (The Claim Expenses, First Aid Expenses, and Damage to Property of Others are Additional Coverages that supplement Coverage L, Personal Liability, and Coverage M, Medical Payments.)

Under a Dwelling Policy, the coverage extension of Debris Removal will pay for: A The removal of debris resulting from the action of a civil authority B The removal of the debris caused by an insured peril C The removal of debris resulting from demolition required by an ordinance or law D The removal of the debris from an automobile accident on the insured location

B (This coverage pays the insured's reasonable expenses for the removal of debris of covered property if the property is damaged by an insured peril.)

All of the following are covered perils under the Extended Coverage Endorsement to the DP-1, except: A Volcanic eruption B Vehicles C Windstorm D Weight of ice, snow, or sleet

D (Weight of ice, snow, or sleet is not part of the EC perils.)

Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? A Functional Replacement Cost B Actual Cash Value C Agreed Value D Replacement Cost

D (The DP-2 provides for losses to the dwelling and other structures are paid on a replacement cost basis.)

Policyholder M insures an owner-occupied, single-family residence under a Special Form Dwelling Policy (DP-3) with a limit of $100,000. If the dwelling is damaged in a fire, what policy coverage will pay for M's extra costs to stay in a motel and board M's pets while the fire damage is being repaired? A Coverage E B Coverage B C Coverage D D Coverage C

A (Coverage E pays for the necessary increase in living expenses incurred by the insured if the building is rendered unfit for its normal use.)

Which of the following is true regarding Coverage A under the Dwelling Policy? A The policy does not include coverage for wind loss of television antennas B Outdoor equipment is not covered C Coverage for land is restricted to the land upon which the dwelling is sitting D Coverage A includes a detached carport

A (Wind loss of television antennas is so common the coverage is available only through attachment of an endorsement providing this coverage for an additional premium.)

# Choose the true statement about the Basic Dwelling Form. A The Basic Form covers internal explosion B The Basic Form covers loss to trees, shrubs, and plants C The Basic Form automatically covers contents for theft D The Basic Form covers contents on an open perils basis

D (The Basic Form is written on a named perils basis and does not cover theft, or loss to trees, shrubs, and plants.)

All of the following are eligible for coverage under the Dwelling Program, except: A A duplex B A single-family home in the suburbs C A vacation home used as a secondary residence D A beauty shop with a small bedroom attached

D (A dwelling used primarily for business is not eligible.)

Which is true of the Dwelling Policy Special Form? A Contents are covered on an actual cash value basis B The form will cover the theft of contents C Losses to the dwelling are paid on an actual cash value basis D The form will cover the cracking of walls

A (Losses to the dwelling are paid on a replacement cost basis, while the contents are paid on an actual cash value basis. Cracking of walls and theft are excluded under the policy.)

The DP-3 insures personal property against the same perils as: A The DP-1 Dwelling Coverage B The DP-2 Personal Property Coverage C The DP-1 Personal Property Coverage D The DP-3 Dwelling coverage

B (The DP-3 covers the dwelling against open perils, and personal property against the broad (DP-2) perils.)

Which of the following is TRUE of the Dwelling Under Construction Endorsement of a Dwelling Policy? A The insurer does not need to be notified of building completion B The insured has up to 90 days to notify the company that the dwelling is occupied C The premium is a percentage of the Coverage A limit D The liability limit is a percentage of the finished building's value

D (The limit of insurance at any given time prior to completion is a percentage of the Coverage A limit that equals the proportion the actual value bears to the value on the date of completion. The insurer must be notified of completion so coverage may be adjusted.)

The Basic (DP-1) Dwelling Form does not include which coverage? A Property removed to a newly acquired residence B Additional living expenses C Worldwide coverage on personal property with a limit up to 10% of Coverage C D Fair rental value

B (Coverage for Additional Living Expenses is only available under the DP-2 and DP-3 forms.)