DWELLING PROPERTY DP2 BROAD FORM Flashcards Preview

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Flashcards in DWELLING PROPERTY DP2 BROAD FORM Deck (16):
1

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

2

Coverage E - ADDITIONAL LIVING EXPENSE

To maintain normal living standard while dwelling is being repair (May be added to DP-1 by Endorsement

3

Named Perils

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)

4

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.

5

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.

6

Other Coverages - RIOTRODS

RENTAL value & additional living expense - 20% for A ; Additional amounts of insurance (no monthly limit)

7

rIotrods

IMPROVEMENTS, Alterations, additions - 10% of C Additional amount of insurance.

8

riOtrods

OTHER structures - 10% of A ; Additional Amount of Insurance.

9

rioTrods

TEMPORARY location after removal to save from covered peril - 30 days

10

riotRods

REPAIRS to prevent further damage

11

riotrOds

OFF Premises personal property - 10% of C- Worldwide, -NOT ADDITIONAL- No boats.

12

riotroDs

DEBRIS removal, remocion de escombros.

13

riotrodS

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.

14

Settlement

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.

15

Mandatory Endorsement

Catastrophic Ground Cover Collapse (CGCC) Is automatically added to DP-1 - DP-2 & DP3

16

Building Ordinance

Automatic on DP-2 and 3 for building owner- 10 % of A, for Non-Building owner 10% of B, for Tenant 10% of improvement limits applies (DP-1 May be endorsed)