What it does
DP 2 covers Coverage A (dwelling), B (other structures), C (personal property), D (fair rental value) and E (additional living expense) against a broad list of named perils, a wider list than DP 1.
The 07 14 editions came from ISO's 2014 Dwelling Property multistate revision, which superseded the 12 02 editions; Washington has its own 07 25 state versions of the three policy forms.
Who needs it
Landlords and owners of non-owner-occupied or seasonal dwellings who want more than basic perils, and owner-occupants who do not qualify for a homeowners form.
Key provisions and limits
- The 2014 revision made the deductible a per-loss deductible with only the highest deductible applying when several apply, and incorporated the revised water damage and earth movement exclusion wording into the form.
- Ordinance or law coverage can be increased with DP 04 71.
Quoting and selling notes
- The dwelling forms contain no liability coverage. Landlords need premises liability from DL 24 01 (personal liability supplement), HO 24 70 on their homeowners policy, or a lessor's risk only commercial general liability policy.
- Compare with DP 00 03 for open-perils building coverage; DP 2 is often used for older properties.
Editions and availability
Current edition 07 14, replacing 12 02, 07 88. Carriers adopt ISO editions state by state, so the edition on a given policy can lag the newest one.
Program notes
Dwelling policies are written for the property owner, not the occupant, and are the usual vehicle for landlords of one- to four-family dwellings. Because the forms carry no liability coverage, review every dwelling file together with DL 24 01 (or the homeowners or commercial policy that provides premises liability), and with any personal umbrella the client carries.
