The Brignac Group is a full-service, independent Baton Rouge insurance agency.
The Brignac Group - A Baton Rouge Insurance Agency
Dwelling fire insurance
Dwelling Fire insurance is important if you own rental or investment properties, you need to protect them from a host of potential perils, including fire, lightning, vandalism and theft.
Differentiating the Dwelling Fire insurance Policy Types
Just like homeowners policies...
there are several different types of dwelling fire insurance coverage. DP-1 is known as the basic form, DP-2 is known as the broad form and DP-3 is known as the special form. Each provides a significantly different level of coverage.
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DP-1: Basic Form
DP-3: Special Form
DP-1: Basic Form
The basic form is a “named perils” policy (that is, the policy explicitly names what perils are covered) and covers losses due to:
- Fire
- Lightning
- Internal explosion, such as a stove or water heater
There are two optional endorsements available with DP-1 coverage:
- Vandalism or malicious mischief (V&MM)
- Extended coverage, which includes damages d
The basic form is a “named perils” policy (that is, the policy explicitly names what perils are covered) and covers losses due to:
- Fire
- Lightning
- Internal explosion, such as a stove or water heater
There are two optional endorsements available with DP-1 coverage:
- Vandalism or malicious mischief (V&MM)
- Extended coverage, which includes damages due to the following:
- Hail or windstorms
- Other explosions
- Riot/civil commotion
- Aircraft or vehicles
- Smoke
- Volcanic eruptions
The DP-1 form is usually the form of choice for vacant homes or properties, and it may be the only option for these dwellings.
DP-2: Broad Form
DP-3: Special Form
DP-1: Basic Form
The broad form is also a named perils policy and covers the same perils as the basic form, with certain additions:
- Extended coverage and V&MM coverage are automatically included
- Burglary damage
- Weight of ice and snow
- Glass breakage (as long as the building was not vacant for 60 or more days before a loss)
- Accidental discharge or overflow of w
The broad form is also a named perils policy and covers the same perils as the basic form, with certain additions:
- Extended coverage and V&MM coverage are automatically included
- Burglary damage
- Weight of ice and snow
- Glass breakage (as long as the building was not vacant for 60 or more days before a loss)
- Accidental discharge or overflow of water or steam (as long as the building was not vacant for 60 days before a loss)
- Falling objects (such as trees)
- Freezing of pipes
- Electrical damage
- Collapse (due to decay, vermin or insect damage, or other perils)
- Tearing apart, cracking, burning, bulging
Loss of rent coverage may be included with a DP-2 policy. If tenants are forced to move out while the landlord repairs the dwelling due to damage caused by a named peril, this coverage would reimburse the landlord for rent lost during the process.
DP-3: Special Form
DP-3: Special Form
DP-3: Special Form
The DP-3 form is the most comprehensive dwelling fire coverage available. It is an “open perils” or “all risk” policy, which means real property (dwelling and other structures) will be covered for all types of damage, except those exclusions named in the policy.
However, damaged personal property (all the items inside the dwelling and oth
The DP-3 form is the most comprehensive dwelling fire coverage available. It is an “open perils” or “all risk” policy, which means real property (dwelling and other structures) will be covered for all types of damage, except those exclusions named in the policy.
However, damaged personal property (all the items inside the dwelling and other structures) is covered on a named perils basis.
DP-3 form exclusions vary, but will typically include some or all of the following:
- War
- Water damage
- Laws and ordinances
- Neglect
- Intentional loss
- Mold, rust, rot and other gradual losses
- Certain types of water damage
- Earth movement, such as earthquakes
- Governmental action