What are the three dwelling policy forms?

The three dwelling policy forms are specifically designed to cater to different levels of coverage for residential properties that are not owner-occupied, such as rental or vacation homes. The Basic Form (DP1), Broad Form (DP2), and Special Form (DP3) each provide varying degrees of protection that are suited to different needs and risks associated with dwelling coverage.

The Basic Form (DP1) covers a limited set of specified perils, offering a fundamental level of protection. This form typically covers risks such as fire, lightning, and explosion, making it ideal for properties where minimal coverage is sufficient.

The Broad Form (DP2) expands coverage significantly by including all the perils under the Basic Form plus additional perils that offer greater protection. These can include theft, vandalism, and certain accidental discharge of water, among others. This makes it a more comprehensive option for homeowners seeking broader coverage without going to the full extent of the Special Form.

The Special Form (DP3) provides the most comprehensive coverage of the three. It is an all-risk policy that covers all perils except those specifically excluded in the policy. This version is suitable for property owners looking for extensive coverage against a wide range of risks, making it an attractive choice for those wanting