Dwelling Policy (DP)Question 72 of 474
Which ISO Dwelling Property form provides open-perils (special form) coverage on the dwelling structure but continues to insure personal property on a named-perils basis?
a.DP-3 Special Form
b.DP-1 Basic Form
c.HO-4 Contents Broad Form
d.DP-2 Broad Form
Explanation
The DP-3 Special Form insures the dwelling and other structures on an open-perils basis — any cause of loss not specifically excluded is covered — while keeping personal property on a named-perils list. DP-1 uses named perils throughout, DP-2 uses broader named perils throughout, and HO-4 is a renters policy (contents only), not a Dwelling form.
Law Reference: ISO DP 00 03 (DP-3 Special Form)This topic, taught in full in the Personal Lines Insurance Producer guide. Personal Lines Insurance Producer — Complete Study Guide (2026) — PDF + EPUB, $19.99 · 14-day refund →
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Related questions on this topic
- A California Personal Lines broker-agent is asked to write property coverage for a client. Which of the following risks is BEST suited for an ISO Dwelling Policy and within the broker's license scope?
- By default, on what valuation basis does the DP-1 Basic Form settle a partial loss to the dwelling?
- A landlord's tenant must move out for three months while fire damage to the rented house is repaired. Which DP coverage reimburses the landlord for the rent the tenant would have paid?
- A landlord insured under a DP-3 is sued by a tenant who slipped on a broken porch step. What does the base DP-3 pay toward the landlord's liability defense?
- A landlord's DP-3 rental house has been vacant for 75 consecutive days while between tenants. Vandals break in and spray-paint the interior. How does the policy respond?
- A DP-3 dwelling has a replacement cost of $500,000. The landlord carries $300,000 of insurance and suffers a $60,000 partial loss with a $1,000 deductible. Using the coinsurance proportionate formula, what is the insurer's payment?
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