Unit 6 Flashcards
Dwelling
Not required to be owner occupied
Covers risk like rental, older homes, and hunting cabins
Dwelling Eligibility
1- 4 unit dwelling w/ Boarders Vacation dwelling Rental dwelling Dwellings under construction Mobile Homes
( Farm dwelling not available)
Dwelling Coverage A
Dwelling - Covers dwelling, structures attached, 7 materials/supplies used to repair
Dwelling Coverage B
Other (Detached) Structures - building on premises not used for for commercial, manufacturing, or farming
( 10% of coverage A)
Dwelling Coverage C
Personal Prop - on and off premises. off premise covered at 10%
Dwelling Coverage D
Fair Rental Value - insurer will pay fair rental value to section that was rented
Dwelling coverage E
Add Living Expenses -
included in DP-2 and DP- 3. Can be added to DP-1 by endorsement
Other Coverages (Dp-1)
Auto included
Debris removal
Prop removed ( 5 days all perils)
Resonable Repairs
Renters Improvements ( 10% of coverage C)
Fire Department Service Charge ( $500 no deductible)
Worldwide Person Pro ( 10% of coverage C)
Other Coverages (DP-2 and DP-3)
All basic coverage
Trees, Shrubs and plants ( max $500 ea. Total 5% of Coverage A)
Collapse
zglass
ordinance or Law ( 10% of coverage A)
Removal Prop ( 30 days (( 5 days for DP-1))
Claims Values
Person Pro - ACV
Dwelling ( DP-2 and DP-3 ) Replacement ( required to carry 80%)
DP- 1 (Basic Form)
Fire, lightning and internal explosion
EC available for:
WCSHAVVER ( add premium)
V&MM ( add premium)
DP - 2 ( Broad Form)
All Dp-1 (Fire, lightning and internal explosion, WCSHAVVER, V&MM)
Plus BIGAFFECT
DP - 2 ( Broad Form) Exclusions
Regular exclusions
DP- 3 (Special)
All risk
DP - 3 ( Broad Form) Exclusions
Intentional damage theft freezing of plumbing ( if unoccupied and not then care of) Wear and tear Foundations
General Dwelling Exclusions
Ordinance or Law Earthquake Flood War Nuclear Intentional loss Government seizure
Loss valuations
Loss Settlement Our option Pair and set loss payment other ins Recovered prop
Coverage L
Person Liability At fault BI to others prop damage to others on and off premises max 100k
Coverage M
Med Payments
No fault
3 yrs
Dwelling Add Coverage
BAILED
Residential Theft Coverage
Not auto included
on and off premises
Broad- owner occupied
Limited - Not owner occupied
Dwelling Exclusions
Animals Credit Cards Prop in mail Aircraft Other ins prop Tenants prop ( no relation) Business propProp in custody of others Motor Vehicles ( Unless used for disability)
