Chapter 7a personal risk

Dwelling Policy

Insurance coverage typically used to insure rental dwellings, such as the ISO Special Form DP-3.

DP-3

A dwelling policy form that provides coverage for rental dwellings but does not include theft or liability coverage.

FAIR Plans

State programs that provide insurance in markets underserved by voluntary insurance due to uninsurability or high premiums.

Coverage A

Refers to the dwelling coverage in DP-3 policies.

Coverage B

Refers to coverage for other structures under DP-3 policies.

Coverage C

Personal property coverage under DP-3, except theft coverage is not provided.

Coverage D

Coverage for fair rental value (loss of use) within DP-3 policies.

Coverage E

Coverage for additional living expenses (loss of use) in DP-3 policies.

Windstorm Coverage

Special coverage for properties in coastal areas susceptible to windstorm damage.

Underwriting Standards

Criteria set by insurers to determine the eligibility of properties for coverage.

Mobile Homes

Dwellings that can be insured under dwelling policies if they are at a permanent location.

Building Code Compliance

Requirement for properties to be built according to safety codes to be eligible for FAIR Plans.

DIC Policy

Difference in Conditions policy that fills coverage gaps not covered by standard policies.

Civil Commotion Coverage

Insurance provided for properties in urban areas susceptible to riots or civil disturbances.

Flood Insurance Policy

A separate insurance policy that covers flood-related risks, often needed in areas with beachfront or windstorm plans.

Property Inspection Requirement

A necessary step for policyholders to qualify for coverage under FAIR Plans.

Vandalism Coverage

Insurance that may be included under FAIR Plans for limited perils.

Houseboats

Floating dwellings that may be insured under certain conditions in some states.

Coverage type A

dwelling

Coverage type B

other structures

Coverage type C

personal property (no theft coverage)

Coverage type D

Fair rental value (loss of use)

Coverage type E

additional living expenses (loss of use)