Texas Insurance - Types of Property Policies.pdf file:///C:/Users/HP/Desktop/eewwww/Texas%20Insurance%20-%20
Texas Insurance - Types of Property Policies
1. Personal Lines - Dwelling and Contents: There are 3 separate coverage forms available
under the dwelling program; Basic, Broad, and Special Form Coverage. Endorsements exist to
amend the coverage to tailor it to the specific needs of the policy applicant.
2. A Dwelling Property policy can be purchased to insure properties solely used for
residential purposes in the following situations:: - up to 5 roomers or boarders;
- up to 4 residential units
- Properties in the course of construction
- Owner occupied, tenant occupied or both;
Mobile homes on the basic form, if they contain no more than one apartment and are located at a
permanent location listed in the policy.
- Seasonal dwellings unoccupied for 3 or more months during a 12 month period; or
- Not designed as a farm property
3. WHARVES - Acronyms that can be used to help remember the extended coverage
perils: Windstorm;
Hail; Aircraft/Vehicles;
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,Texas Insurance - Types of Property Policies.pdf file:///C:/Users/HP/Desktop/eewwww/Texas%20Insurance%20-%20
Riot/Civil commotion;
Volcanic eruption;
Explosions;
Smoke.
4. Dwelling Property 1: Basic Form (DP-1 or DP 00 01)
5. Dwelling Property 2 - Broad Form (DP-2 or DP 00 02): DP-2 = Basic Form + Extended
Coverage Perils + Vandalism and Malicious Mischief (V&MM) + Broad Form Perils
6. B.B. BICE-GOLF can be used to remember the broad form coverage perils:-
: Bursting of heating systems:
Burglary damage; Breaking of
water heaters:
Ice, snow, or sleet weight;
Collapse of building or part of building:
Electrical damage;
Glass breakage;
Objects falling from outside; Leakage of
water or steam damage; Freezing of
plumbing.
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