Dwelling Policy Coverage Forms

Question 1

Basic (DP1)

Answer 1

• Named Peril
• No Minimum amount of insurance required
• Basic Perils

Question 2

Basic (DP1)

Answer 2

• Named Peril
• No Minimum amount of insurance required
• Basic Perils (Fire, Lightning, Internal Explosion)

Question 3

Basic DP1 Perils

Answer 3

Fire, Lightning, Internal Explosion

Question 4

Broad (DP2)

Answer 4

• Named Peril

- Basic Perils + extended coverage perils + V&MM (vandalism/malcious mischief) + broad form perils

Question 5

Extended Coverage Perils (W.C. SHAVER)

Answer 5

• Windstorm
• Civil Commotion
• Smoke
• Hail
• Aircraft
• Vehicle & Volcano
• Explosion
• Riots

Question 6

Broad Form Coverage Perils (B.B. BICE-GOLF)

Answer 6

• Bursting of heating systems
• Burglary damage
• Breaking of water heaters
• Ice, Snow, Sleet weight
• Collapse of a building
• Electrical Damage
• Glass Breakage
• Objects falling from outside
• Leakage of water or steam damage
• Freezing of plumbing

Question 7

Special Form (DP-3)

Answer 7

-Open Peril form, meaning every peril is covered except those specifically excluded.

Question 8

Main Differences between Special Form DP3 & Borad Form DP2

Answer 8

• Theft of property that is a part of dwelling is insured against in the special form DP3
• Coverage of accidental discharge or overflow of water is broadened to cover loss caused by discharge/overflow that occurs OFF insured premises.
• Awnings, fences, outdoor equip, are not excluded from the peril of falling objects in the special form.
• The special from policy will provide coverage for damage to a roof resulting from freezing or thawing of water under roof shingles.