1. A Dwelling Property policy can be purchased to insure properties solely used for
residential purposes in the following situations: - ANS-- up to 5 roomers or boarders;
2. - up to 4 residential units
3. - Properties in the course of construction
4. - Owner occupied, tenant occupied or both;
5. Mobile homes on the basic form, if they contain no more than one apartment and are
located at a permanent location listed in the policy.
6. - Seasonal dwellings unoccupied for 3 or more months during a 12 month period; or
7. - Not designed as a farm property
8. B.B. BICE-GOLF can be used to remember the broad form coverage perils: -
ANS-Bursting of heating systems:
9. Burglary damage;
10. Breaking of water heaters:
11. Ice, snow, or sleet weight;
12. Collapse of building or part of building:
13. Electrical damage;
14. Glass breakage;
15. Objects falling from outside;
16. Leakage of water or steam damage;
17. Freezing of plumbing.
18. Coverage A (Dwelling and Contents) - ANS-Dwelling
19. Coverage B (Dwelling and Contents) - ANS-Other Structures
20. Coverage C (Dwelling and Contents) - ANS-Personal Property
21. Coverage D (Dwelling and Contents) - ANS-Fair Rental Value
22. Coverage E (Dwelling and Contents) - ANS-Additional Living Expenses
23. Dwelling Property 1 - ANS-Basic Form (DP-1 or DP 00 01)
24. Dwelling Property 2 - Broad Form (DP-2 or DP 00 02) - ANS-DP-2 = Basic Form +
Extended Coverage Perils + Vandalism and Malicious Mischief (V&MM) + Broad Form
Perils
25. HO-2 - ANS-Provides protection for losses from named perils.
26. HO-2 HO-3 and HO-5 provide - ANS-building coverages on a replacement cost basis if
the building is insured for 80% or more of its replacement cost.
27. HO-3 (Special form) - ANS-Provides protection for dwelling and other structures on an
open peril basis and personal property is covered only for broad perilds
28. HO-4 (Renters) - ANS-Insures personal property for broad perils
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
