Contrary to what you may believe judging by the name, Dwelling Fire Insurance offers protection that goes beyond fires. Here’s how you can safeguard your properties with this versatile coverage.
What Is Dwelling Fire Insurance?
Dwelling fire insurance is designed to protect places that belong to you but aren’t your primary residence. This includes properties such as:
- Vacation homes
- Rentals/investment properties
- Older homes
- Vacant homes
- Secondary/seasonal homes
Purchasing dwelling fire insurance for this type of property is always a good idea, especially if you don’t visit the house regularly or if you allow other people to use it (which is often the case with vacation homes).
What You Need to Know
Not all Dwelling Fire Insurance policies are the same. They come in three basic types (DP-1, DP-2, and DP-3), depending on the level of protection they provide. Let’s take a closer look:
- DP-1: This type of Dwelling Fire Insurance is called Basic Form Dwelling Fire Insurance. It’s a “named perils” policy because it states specifically which risks are covered. These include fire, lightning, and internal explosion.
- DP-2: Also known as Broad Form Dwelling Fire Insurance, these policies also fall into the category of “named perils” and offer all the protection of DP-1 policies plus burglary damage, vandalism, freezing of pipes, electrical damage, broken glass, cracking, as well as water/steam leaks, among others.
- DP-3: Unlike the previous two policies, this is an “open perils policy” because it covers all types of damage except those explicitly excluded. The list of exclusions of a DP-3 policy (also called Special Form Dwelling Fire Insurance) usually includes war, neglect, intentional loss, mold, rust, certain types of water damage, and earthquakes. However, the exclusions may vary depending on your policy.
As with any other type of insurance, there are many endorsements available to customize your coverage. For example, in the case of DP-1 policies, you can opt for extended coverage, which supplements your basic policy with protection against hail or windstorms, smoke, and volcanic eruptions.
RF1 Insurance Services: Dwelling Fire Insurance in Southern California
Looking for Dwelling Fire Insurance in the Golden State? RF1 Insurance is your trusted local Safeco agency serving Southern California. Get in touch today: our agents stand ready to meet all your insurance needs.