Flashcards in DWELLING PROPERTY DP2 BROAD FORM Deck (16):
Coverages A thru D Are almost the same as DP1
Minimum limits for cov A-$12,000 (if no cov A, then C $4,000
Coverage E - ADDITIONAL LIVING EXPENSE
To maintain normal living standard while dwelling is being repair (May be added to DP-1 by Endorsement
Fire, Lightning and WHARVES as DP-1. Note the followings differences: VMM built into DP-2; Add Florida Mandatory Endorsement: Catastrophic Ground Cover Collapse; Vacancy - 60 consecutive days (suspend glass breakage and crime losses)
Additional Perils (NOT IN DP-1) CAP
COLLAPSE caused by certain Perils, ACCIDENTAL discharge of water or steam from plumbing, heating, air conditioning system and household appliances, PIPE damage from freezing of all plumbing system.
Additional Perils (NOT IN DP-1) BOBBIE
BURGLAR damage to premises, OBJECTS Falling DP-2 EXCLUDES tv antennas, outdoor equipment, awnings & fences (all are covered under DP-3) BREAKAGE of glass, BULGING of steam or hot water heating & plumbing system, ICE, snow or sleet - weight of. Electrical damage from artificially generated electrical current.
Other Coverages - RIOTRODS
RENTAL value & additional living expense - 20% for A ; Additional amounts of insurance (no monthly limit)
IMPROVEMENTS, Alterations, additions - 10% of C Additional amount of insurance.
OTHER structures - 10% of A ; Additional Amount of Insurance.
TEMPORARY location after removal to save from covered peril - 30 days
REPAIRS to prevent further damage
OFF Premises personal property - 10% of C- Worldwide, -NOT ADDITIONAL- No boats.
DEBRIS removal, remocion de escombros.
SHRUBS, Trees, plants - Certain Perils - FLAREV (Fire, Lightning, Aircraft, Riot, Explosion, Vandalism (vehicle) MAX 5% OF A - 500 MAX on each tree, shrub or plant - Additional amount of insurance.
Replacement cost - Cov A & B only - pays new for old if property insured for 80% of replacement cost (must notify company within 180 days of intent to replace) if not repaired in a reasonable time, ACV is paid.
Catastrophic Ground Cover Collapse (CGCC) Is automatically added to DP-1 - DP-2 & DP3