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 Posted: Mon Aug 17, 2009 10:03 pm Post subject: OK... if I have a DP1 with extended perils and VMM coverage |
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OK... if I have a DP1 with extended perils and VMM coverage is theft one of those perils?
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| Posted: Fri Sep 09, 2011 3:26 pm Post subject: |
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NO
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anonymous68
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| Posted: Fri Sep 09, 2011 5:20 pm Post subject: |
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DP1 is a "named-perils" policy and is considered the "1987 Chrysler K Car" in terms of coverage. In other words... not good, not good at all.
Coverage as follows for the dwelling under Coverage A:
Basic Covered Perils: Fire, Lightning and Internal Explosion ONLY
Extended Coverage Perils for additional premium: Remember the acronym "WHARVVES:" Wind, Hail, Aircraft, Riot, Vehicles, Volcano, Explosion and Smoke
Vandalism and Malicious Mischief (V&MM):
Added at additional premium, this will cover losses attributed to "willful and malicious damage" to or destruction of covered property, damage cause by burglars (but NO theft coverage) and loss to glass building blocks, as long as the dwelling has not been vacant more than 30 consecutive days prior to the loss.
Any particular reason you're looking at (or have purchased) a DP-1? You don't get much protection with this policy form, and I would absolutely suggest upgrading to at least a DP-2, or even better- a DP-3.
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InsTeacher
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| Posted: Sun Sep 11, 2011 5:23 am Post subject: |
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A DP-1 is typically used by someone who only wants minimum coverage, such as a landlord who rents an unfurnished house or apartment. In such circumstances, the landlord could care less if anything not his was stolen. The V&MM coverage protects against damaged/stolen fixtures (faucets, toilets, cabinets) that would not be covered by a tenant's policy.
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