Dwellings (after SFP)

Question 1

Dwelling Policy (DP)

Answer 1

insure residences that are not owner-occupied, but instead are used as rental properties

monoline policy covering only property losses

Question 2

DP-1 Basic

Answer 2

A (Dwelling) 10% of value

B (Other structures) 10% of the value of A (not in addition to Part A) (nothing more)

C (Personal Property) Declared value - no min.

D (Fair Rental Value) 20% of the value of A (not in addition to Part A) (nothing more)

E (Add’ Living Expenses) 20% of A (not additional & added by endorsement)

Perils
-fire
-lighting
-internal explosion
+
WCSHAVER (added by endorsement)
+
VMM (added by endorsement)

Removal: 5 days

Question 3

DP-2 Broad

Answer 3

A (Dwelling) 10% of value

B (Other structures) 10% of the value of A

C (Personal Property) Declared value - no min.

D (Fair Rental Value) 20% of the value of A

E (Add’ Living Expenses) 20% of A

Perils
-fire
-lighting
-internal explosion
+
B - burglars
I - ice
G - glass
A - accidental water
F - falling object
F - freezing
E - electrical
C - cracking
T - tearing apart steam water system

Removal: 30 days

Question 4

DP-3 Special

Answer 4

A (Dwelling) 10% of value

B (Other structures) 10% of the value of A

C (Personal Property) Declared value - no min.

D (Fair Rental Value) 20% of the value of A

E (Add’ Living Expenses) 20% of A

Perils:
All of A&B
Broad form perils on coverage C (ALL EXCEPT those excluded)

Removal: 30 days

Question 5

Dwelling Policy Eligibility

Answer 5

(a) Age and/or condition
(b) Location of the dwelling;
(c) The dwelling is not owner-occupied and being used for rental purposes

NO more than (4) apartment units and no more than five (5) roomers or boarders per apartment unit

Question 6

Broad Theft Form

Answer 6

only available for an owner-occupied dwelling

Question 7

Limited Theft Form

Answer 7

properties NOT owner occupied

Question 8

Vandalism & Malicious Mischief (V&MM) Endorsement

Answer 8

This peril does not include loss:

(1) To glass or safety glazing material constituting a part of the building other than glass building blocks;

(2) By pilferage, theft, burglary or larceny, but the insurer will be liable for damage to the building covered caused by burglars;
(3) by any intentional and wrongful act committed in the course of the vandalism or malicious mischief, if the dwelling has been vacant for more than sixty (60) consecutive days immediately before the loss

Question 9

Subrogation (dwelling place)within ____ years after the date of loss.

Answer 9

2