What does the DP-3 Special Form cover?

The DP-3 Special Form provides comprehensive coverage by utilizing an open peril approach for the dwelling itself along with named perils for personal property. This means that the structure of the dwelling is protected against all risks except those specifically excluded in the policy, offering a broader safety net for homeowners.

In contrast, personal property covered under this form is only safeguarded against certain risks that are explicitly listed in the policy, which allows for some specificity in the types of losses that are covered for personal belongings. This unique combination of coverage types enables a homeowner to have extensive protection for their dwelling while also clearly defining what risks their personal property is insured against. Thus, this form is particularly valuable to homeowners who want robust protection for their structures while still identifying the risks associated with personal items.

Understanding the distinctions between the types of coverage is crucial for accurately assessing insurance needs and ensuring appropriate levels of protection.