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
Retirement center with a focus on group living arrangements for senior citizens. The center has separate apartments for each resident as well as an on-site nursing facility. Generally, ...
Three types of damages can be awarded to a plaintiff: Special Damages reimbursement for out-of-pocket expenses, including medical bills, legal charges, cost of repairing damaged or ...
Marketing of insurance through independent agents; also called independent agency system. Independent agents usually represent several insurance companies and try to insure the risk ...
Buy-sell agreements found in partnerships, sole proprietorships, and close corporations. Either the business entity or the surviving members of the business agree to buy out the interest of ...
Coverage for suits brought by a plaintiff as the result of bodily injury incurred while using an elevator on the insured's premises. ...
Coverage of the hull of a ship and its tackle, passenger fittings, equipment, stores, boats, and ordnance. Coverage is provided under the following types of policies: builders risk hull ...
Direct payment to a new custodian for a retirement plan. This payment is not a taxable event since it is not a distribution. The payment must be between like plans; for example, one ...
Coverage for personal effects of a tourist, including apparel, books, toilet articles, watches, jewelry, luggage, portable typewriters, photographs and photography equipment and supplies. ...
Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies. Coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as ...
Have a question or comment?
We're here to help.