Dwelling, Buildings, And Contents Insurance (db&c)
Definition of "Dwelling, buildings, and contents insurance (db&c)"
Coverage when residential property does not qualify according to the minimum requirements of a homeowner's policy, or because of a requirement for the insured to select several different kinds of coverage and limits on this protection. DB&C insurance coverages can be selected from the following forms and attached to the Standard Fire Policy:
- Basic/Regular/General Form Coverage for property damage to a building used as a dwelling, as well as its contents. (Contents coverage is not restricted to the building or dwelling; coverage can be applied to contents of buildings such as hotels, that do not qualify as dwellings under the DB&C). The property coverage for the building includes items attached to the building such as equipment and fixtures, built-ins, furnace, air conditioner, hot water heater, and lighting fixtures. An optional extension of the dwelling coverage of up to 10% can be applied to private structures on the premises such as a garage. Contents coverage on household and personal goods within the dwelling can be extended to off-premises household and personal contents for up to 10%. Perils insured for both dwelling and contents are fire, lightning, and removal of the property from the premises to further protect it from damage from the perils. For an additional charge, vandalism and malicious mischief can also be insured against.
- Broad Form includes the basic coverages plus the additional perils of burglary; falling objects; weight of snow and/or ice; accidental discharge, leakage, or overflow of water or steam from an air conditioning, heating, and/or plumbing mechanism and/or household appliance; glass breakage; damage resulting from water or freezing of plumbing and/or heating mechanisms; and structural problems leading to the collapse of the building. Damage from insured perils resulting in additional living expenses is also provided.
- Special Form Coverage on an ALL RISKS basis for only the structure of a dwelling, with no coverage for its contents.
Popular Insurance Terms
Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
Endorsement to a business property floater policy that covers neon signs for all perils, both while they are being moved and once they are in place. Signs that are attached to a building ...
Coverage for a lender who has accepted property on the floor of a merchant as security for a loan. If the merchandise is damaged or destroyed, the lender is indemnified. The policy is on an ...
Loss that is not a direct result of a peril. For example, damage to property of a business firm would be a direct loss, but the loss of business earnings because of a fire on its premises ...
Policyholder's equity share of the life insurance company's assets. The share is based on the policyholder's contribution to assets (the company's gross premiums minus cost of insurance, ...
Highly visible form of marketing communication with the public with these objectives: (1) encourage agents and brokers to sell insurance company products, (2) predispose customers to be ...
Trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the association is to further the common interests of its members. ...
Coverage in event of damage or destruction of animals that are being shipped. ...
Reduction in automobile insurance rate for a student with a good academic record. Some statistical studies suggest that good students have fewer automobile accidents. ...
Have a question or comment?
We're here to help.