Which of the following is true regarding the coverage provided under DP2 - Broad Form?

The correct answer highlights that the DP2 - Broad Form provides coverage for additional perils not included in the DP1 - Basic Form. The DP2 form expands on the coverage of the DP1 by including certain specified perils such as falling objects, weight of ice and snow, and additional risks like sudden and accidental tearing apart of heating systems. This enhanced coverage makes the DP2 form more comprehensive than the DP1, which only covers a limited set of specified perils.

This distinction is important for policyholders to understand, as it indicates the broader protection offered by the DP2 form, making it a preferred option for those seeking more extensive coverage for their residential properties.

The other options misrepresent the scope of the coverage provided. The DP2 form does not cover all perils without restriction, as it still relies on a named peril basis where only the specific perils listed in the policy are covered. Additionally, the DP2 policy does cover personal property, but it is not exclusively focused on this aspect; it is primarily a form for dwelling coverage, including structures. Lastly, the DP2 does not include liability coverage, but this is a feature of standard dwelling policies across both DP1 and DP2 forms, rather than an enhancement or limitation