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  • Dwelling Property 1 Basic Form Ed. 7-88 Dp 00 01 07 88

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Dwelling Property 1 Basic Form Ed. 7-88 AGREEMENT We will provide the insurance described in this policy in return for the premium and compliance with all applicable provisions of this policy. DEFINITIONS.

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The DP-1 basic covers only fire, lightning, and internal explosion. Burglary is not listed as a named peril and is not covered. The following perils may be insured against under a basic dwelling policy EXCEPT: A) lightning.

The basic form covers only damage from fire, lightning, and internal explosion, but additional perils can be covered by endorsement. The broad form covers direct damage to dwellings and personal property on a broad named perils basis.

What is not covered by dwelling insurance? A standard homeowners insurance policy typically does not cover floods, earthquakes, sewer backups or damage that occurs from a lack of maintenance. You may be able to buy additional coverage or a separate insurance policy to help cover some of these additional perils.

A DP-1 insurance policy is a type of landlord insurance policy that covers your property against nine perils. DP-1 is a named peril policy, meaning it only covers damage to the residence caused by the listed perils. As a result, there are many possible scenarios where damages are not covered.

Coverage E (Additional Living Expenses): Covers the cost of living expenses should your property become uninhabitable due to a covered loss. This coverage is not standard on the basic form (DP-1) but can be added as an endorsement.

The basic form covers only damage from fire, lightning, and internal explosion, but additional perils can be covered by endorsement.

For example, DP1 doesn't typically cover vandalism. Moreover, DP1 doesn't cover your personal property or liability, but you can add those coverage for an extra cost. When you make a claim on a DP1 policy, be prepared for a settlement based on the actual cash value of the loss.

The DP1 covers the following specific perils: Fire, lightning, explosion, wind & hail, smoke, aircraft, riot & looting, vandalism, sprinkler leakage, sinkhole collapse, volcano/lava.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232