The DP-3 provides which type of coverage?

The DP-3, or the Dwelling Property 3, form provides open peril coverage for the dwelling, which means that it covers all causes of loss except those specifically excluded in the policy. This type of coverage offers a broad level of protection for the structure itself, making it suitable for those wanting extensive coverage against various potential risks.

In addition, the DP-3 provides broad coverage for personal property. Although this is not as extensive as the open peril coverage for the dwelling, broad coverage includes a wider range of perils than basic policies, compensating for certain risks that are not included in more limited coverage forms. This combination makes the DP-3 a popular option for property owners seeking more comprehensive protection for their residence and possessions.