Dwelling Policy (DP)Question 251 of 474
Compared with a homeowners policy, a dwelling policy is best described as:
a.A package form that adds liability and theft coverage automatically
b.A property form that can insure a home its owner does not live in
c.A commercial form used for apartment buildings of any unit count
d.A form issued only for owner-occupied single-family residences
Explanation
The dwelling policy is a property-only contract, and it is regularly written on rental, seasonal, and other homes the owner does not occupy, though an owner-occupant may also buy one. The choice describing an automatic liability and theft package states the homeowners package instead: on a dwelling form both are added by endorsement.
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Related questions on this topic
- Which Dwelling form insures the dwelling on an open-perils basis, providing the broadest property coverage?
- Under a Dwelling policy covering a rented home, the coverage that reimburses the owner for lost rent while the home is being repaired after a covered loss is:
- A major difference between a Dwelling policy and a Homeowners policy is that the Dwelling policy:
- Which risk is eligible for coverage under a standard dwelling program?
- A family owns a lakeside cottage they use only in summer and rent to no one. Coverage on the cottage is:
- The unendorsed basic form of the dwelling policy insures the building against:
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