Dwelling Policy – 2: Broad Form

        Dwelling Fire Coverage Options


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 Unlike the DP-1 form, the
     DP-2 form settles claims on a RCV basis.

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.

If you own rental or investment properties, you need to protect them from a host of potential perils, including fire, lightning, vandalism and theft. If your primary residence is located on the rental or investment property, a homeowners policy would cover you from many of the potential risks. But what if you live somewhere else? A dwelling fire policy may be the type of coverage you need to insure your rental or investment property from damages.

Just like homeowners policies, there are several different types of dwelling fire 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.