WebTo some customers, a dwelling fire policy is a good alternative to a homeowners policy. Despite its name, dwelling insuring policies can cover much more rather just fire. ... DP-1 is known as the basic form, DP-2 is known as the broad form and DP-3 is known as the special form. Each provides a significantly different level about coverage. WebThe broad form covers direct damage to dwellings and personal property on a broad named perils basis. The special form covers direct damage to dwellings and appurtenant structures on an all risks basis while covering personal property on a …
Dwelling (DP) Other - Quizizz
WebMar 16, 2024 · HO-2s cover the dwelling — meaning the structure of your home — at its replacement cost value, and your personal property at its actual cash value. An HO-2 also protects your home and personal belongings against six additional named perils, including damage from: Weight of ice, snow, or sleet Accidental discharge or overflow of water or … WebWhat is covered under the Broad Form (DP-2) policy’s falling object peril? Interior building damage if the exterior was damaged first An insured has a special form dwelling policy written for $100,000 on a dwelling. The dwelling's replacement cost is $115,000. hilborn stacks
What is the difference between DP1, DP2, DP3 coverage? - Kastner …
WebDWELLING PROPERTY 2 – BROAD FORM DP 00 02 FPPA 07 11 Includes copyrighted material ISO Properties, Inc., 2002 Page 1 of 17 AGREEMENT We will provide the … An HO-2 policy covers your home and personal property from the 16 named perils listed in the policy. Here’s a look at the 16 named perils that you’re covered against in an HO-2 policy: 1. Fireor lightning 2. Windstormor hail 3. Explosion 4. Riot or civil commotion 5. Aircraft 6. Vehicles 7. Smoke 8. Vandalism 9. … See more The HO-2 policy is a type of homeowners insurance that's much less common than the traditional HO-3 policy you likely know to be standard home … See more While HO-3 policies are the most popular form of homeowners insurance, HO-2 policies are still used by insurers in certain situations. For example, many insurers use HO-2 policies to … See more In general, an HO-2 policy will not cover the following perils: 1. Ordinance or law 2. Earth movement 3. Water damagefrom flooding, sewer … See more WebJul 10, 2024 · Basic form covers these 11 “perils” or causes of loss: Fire or Lightning, Smoke, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking … smalls orchard