OVERVIEW OF THE ISO DWELLING POLICY PROGRAM

This is an overview of the most important program features contained in the Insurance Services Office (ISO) Dwelling Program. It has long been an industry standard for dwelling coverage.

COVERAGES

Coverage A–Dwelling

Coverage B–Other Structures

Coverage C–Personal Property

Coverage D –Fair Rental Value

Coverage is provided for lost rent which directly results from a covered loss making the described location unfit for living.

Coverage E–Additional Living Expense

Coverage is provided for additional living expenses when the extra expenses are the direct result of a covered loss making the described location unfit for living.

Note: Coverage E is not available under form DP 00 01.

PERILS INSURED AGAINST

DP 00 01

• The Dwelling, Other Structures and Personal Property are protected against the following:
• Fire or lightning
• Internal explosion
• Extended coverage (windstorm or hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, volcanic eruption)
• Vandalism or malicious mischief (V&MM)

CONDITIONS

DP 00 01, DP 00 02, DP 00 03 and DP 00 08

Insurable Interest and Limit of Liability–the amount the insurance company pays is the lesser of the insured’s insurable interest and the policy limit.

Mortgage Clause–explains the separate rights owned by a mortgagee or trustee under the policy.

Loss Payable Clause–obligates the insurance company to send notice when the policy is terminated.

Policy Period–a loss must occur during the policy period in order to be covered.