1. Forms
2. DL
3. DL-24-03

What the form is

The DL 24 03 Personal Liability Schedule is an endorsement used in conjunction with the Personal Liability Supplement (DL 24 01) as part of an ISO Dwelling Policy program. Its primary function is to clearly document the specific monetary limits chosen by the insured for two key liability coverages: Coverage L - Personal Liability and Coverage M - Medical Payments to Others. Additionally, this schedule provides a designated space to list any other residence premises owned by or rented to the insured that are to be covered under the personal liability portion of the policy. It is not a standalone coverage form but rather a crucial document that personalizes the liability coverage limits and locations for the policyholder.

Classes of business it applies to

This form is utilized within personal lines insurance, specifically for Dwelling Policies (e.g., DP 00 01, DP 00 02, DP 00 03). It applies to individuals or families seeking personal liability protection related to their residential properties. Common scenarios include:

• Insuring a primary owner-occupied dwelling.
• Providing liability coverage for a secondary or seasonal residence.
• Covering tenant-occupied dwellings where the insured is the landlord and requires personal liability coverage for those premises (often in conjunction with other endorsements like DL 24 04 for additional residences rented to others).
• Situations where an individual needs to schedule specific liability limits for different insured locations.

For example, if an individual owns their primary home and a vacation cabin, the DL 24 03 would list the liability limits applicable and could specify both locations if covered under the same liability supplement.

Special considerations

It's critical to understand that the DL 24 03 Personal Liability Schedule does not provide coverage on its own; it must be attached to and forms part of the Personal Liability Supplement (DL 24 01) or a similar base liability coverage form. The limits of liability shown on this schedule are the maximum amounts the insurer will pay for a covered loss under Coverage L and Coverage M, subject to all other policy terms and conditions. Therefore, accuracy in completing this schedule is paramount:

• Ensure the liability limits accurately reflect the insured's needs and the coverage purchased.
• All residence premises intended to be covered by the personal liability insurance must be correctly listed. Failure to list a location could result in a denial of coverage for an incident occurring at that unlisted premises.
• The edition date of the DL 24 03 should be compatible with the edition date of the DL 24 01 and other policy forms being used.

Key information for agents and underwriters

For Agents:

• Carefully review and confirm with the insured the desired limits for Personal Liability (Coverage L) and Medical Payments (Coverage M). Discuss the implications of these limits and ensure they are adequate for the insured's exposure.
• Thoroughly identify and list all residence premises that require liability coverage. This includes primary homes, secondary homes, and any other eligible residential properties.
• Ensure the DL 24 03 is properly completed, signed (if required), and made part of the policy documents provided to the insured.

For Underwriters:

• The DL 24 03 provides a clear snapshot of the liability limits and the number/type of locations being covered, which is essential for risk assessment and pricing.
• Verify that the limits requested are within the insurer's acceptable range for the type of dwelling and occupancy.
• If multiple locations are listed, assess any increased exposure this might represent. For example, multiple rental properties might indicate a greater liability risk.
• Ensure consistency between the information on the DL 24 03, the DL 24 01, the declarations page, and any other related endorsements. Any discrepancies should be clarified and corrected.