Property coverage forms used to insure physical damage to dwellings and personal property, other than homeowners dwellings. Unlike homeowners forms, these policies do not insure liability or medical payments exposures, unless endorsed for those extended coverages (on a per policy/per carrier basis).
There are three dwelling property forms in the Insurance Services Office, Inc. (ISO), forms portfolio:
–The basic form (DP 00 01),
–The broad form (DP 00 02), and
–The special form (DP 00 03).
The basic form covers only damage from fire, lightning, and internal explosion, but additional perils can be covered by endorsement. The broad form covers direct damage to dwellings and personal property on a broad named perils basis. The special form covers direct damage to dwellings and appurtenant structures on an all risks basis while covering personal property on a broad named peril basis.