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Cards In This Set
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DP1 Basic Form- Standard Deductible $500. Annual Hurricane Deductible 2%, 5%, 10%Cov A- Settlement ACVCoverage A- Dwelling, including installed fixtures, & equipment, outdoor equipment to service propertyCoverage B- Other Structures- (detached)- excluding Commercial Use (owner may store Commercial property)Coverage C- Personal Property of insd, family members and property of guest or servant (no coverage for property of roomers and boarders) Coverage D- Fair Rental Value, rental monies which insd is entitiled due to covered loss
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Named Perils:Fire, Lightning, plus internal explosionFlorida Mandatory endorsement: Catastrophic Ground Cover Collapse- sinkhole.May Purchase: VMM- Vandalism Malicious Mischief (only if EC is purchased) AND Extended coverages (WHARVES) (Excludes, glass, crime on 60 days of vacant buildings)
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WHARVES (DP1)W- Windstorm (excludes awnings, antennas, signs & boatsH- HailA- AircraftR- RiotV- Vehicles (excluding owners & tenant damage to fences, drives, walks)E- Explosion (except steam pipe or steam boiler)S- Smoke (sudden accidental smoke, excluding fireplaces)
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Other coverages- Not additional amounts of ins*Max paid on DP1 is only limit on Coverage A.Rental Value- 20% if A (paid at a rate not to exceed 1/12 of the 20% per month)Improvements, Alterations, Additions- applies only if insd does not own premises 10% of COther Structures- 10% of A (may be rented as a private garage)Temporary Location- when covered, property is removed to save from covered perils - 5 days Repairs to prevent further damage Off premises Personal Property- 10% of C- worldwide- no boats coveredDebris Removal
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Exclusions: W Water by flood, back up sewersO-- Ordinance where construction increases amountP- Power failure away from premisesE- Earth movement other than sinkholes (earthquake)R- Rebellion, revolution, insurrections, war, government action.
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DP1- Named PerilsCov A, B, C- ACVTotal loss paid on DP1 will not exceed dwelling Coverage A on DP1. No trees, shrubs or plants coverage on DP1.
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DP2- Broad FormCoverage A thru D are almost the same as DP1(Min Limits for Cov A- 412,000 (If no Cov A then "C" $4,000)- Coverage E- Additional Living Expense- to maintain normal living standard while dwelling is being repaired. May be added to DP1 by endorsement
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Named Perils- Fire, Lightning, and WHARVES as DP1 except with the following differencesVMM built into DP2- Vacancy 60 days (suspended are glass brekage and crime losses)
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Additional Perils on DP2- (not in the DP1)Collapse caused by certain perilsAccidental Discharge from plumbing, heating, air conditioning.Pipe Damage from freezingBurglar Damage to premisesObjects Falling- DP2 excludes TV antennas, outdoor equipement, awnings, & fences (These are covered under DP3) Brekage of GlassBulging of pipesIce, snow, sleet- Weight ofElectrical damage (except to tubes, transistors, electronic components or circuitry that are part of an appliance, computer or other electronic gadgets from artificially generated electrical current).
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Other Coverages: Rental Value & Additional living expense- 20% of A; Additional amounts of ins (no monthly limit) Improvements, alterations, additions- 10% of C, Additional amounts of ins Other Structures- 10% of A0 Additional amounts of insdTemporary location after removal to same rom covered peril- 30 days (DP3 & DP3) Repairs to prevent further damageOff Premises Personal Property - 10% of C- Worldwide, not additional , no boatsDebris removalShrubs, trees, plants (certain perils- FLAREV) 5% of A, $500 max on each, additional amounts of ins.
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Settlement: Replacement Cost - Cov A & B only- pays new for old (if 80% replacement cost (must notify company within 180 days of intent)- if not repaired in a reasonable time ACV is paid)
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Mandatory End: Catastrophe Ground Cover Collapse (sinkhole) is automatically added to Dp 1, 2, 3.
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Building Ordinance:Automatic on Dp 2 & 3. - Building owner- 10% of A, non-building owner 10% of C, Tenant 10% of improvement limit applies- (DP1 may be endorsed)
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Dp's have no liability endorsedFLAREVFire LightningAircraftRiotExplosionVehicleDp2 & 3 will cover tree, shrubs, plants under perils listed above,. Limitation is 5% of Cov A, max paid on each tree is $500.00.
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DP3- Special FormLike DP2- Except All Risk (open peril) on A&B= Broad Form Perils on Contents. Replacement cost on A&B (Same as DP2)Exclusions: WOPER & W- Wear & TearI- Insect & AnimalS- SmogE- ExpansionR- Rust & Deterioration
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Examples of covered losses under DP3 NOT covered under DP2.1- Interior Damage to dwelling from wind w/o exterior damage2- Theft of integral part of the building
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Cancellation- Non-renewalUnder 90 DaysMaterial Misrepresentation 0 daysFailure to Comply 0 daysOther reasons 20 days
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Over 90 DaysMisrepresentation 100 days of writtenFailure to Comply 100 days writtenNon-renewal 100 days writtenNon-renwal if between 6/1 and 11/30 must give notice by june 1. If insd has same company for 5 plus yrs- 180 days notice for cancellation or non-renewal.*non-pay 10 day written notice
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Endorsements:Broad theft form- Owner occupied- on/off premises- Internal limits $200 money, $1,500 trailers, jewelry, watercraft; $2,500 firearms, silverware.Limited Theft- Non-owner occupied-on premises only. Internal limits $1,500 trailers, watercrafts, $2,500 firearms.Catastrophic Ground Cover Collapse: Geological activity results in:*Abrupt collapse* A Depression in the ground cover clearly visible to the naked eye*Structural damage to the building, including the foundation*The insured structure being condemned and ordered to be vacated by government.*Cost to fill the collapse NOT COVERED
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Building Ordinance: (End) May purchase additional 15% (10% included) may also purchase addtl 40%.1- Value of undamaged portion of building to be demolished2- Cost to demolish3- Increased cost to rebuild back to code
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End- Sinkhole CoverageAutomatic Incr in Ins- Annual %-4% or higher A&B (Inflation Guard)Cover Personal Property associated with bsnssPersonal Liability Coverage
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END OF DP's
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