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
Goals of the financial planning process as follows: Standard of Living Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as ...
Tax, under federal and state laws, on transfer of property made without payment or other value in exchange. ...
One of four types of risks used by the society of actuaries (SA) to determine a life insurance company's overall risk profile when fluctuations in interest rates result in abnormal cash ...
Type of commercial insurance that provides coverage for the business under the following policy forms: Form A employee dishonesty involving money, securities, and other properties and may ...
The definition of short rate cancellation is a penalty method that is applied when an insurance policy is canceled before its expiration date. This penalty method uses a table to determine ...
Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the ...
Inquiry conducted by a committee of the legislature of the State of New York in 1905 that looked at abuses of life insurance companies operating in the state. This study led to stricter ...
Amount charged to an insured that reflects expectation of loss for a covered risk; and insurance company expenses and profit. ...
Wording in life insurance policies to determine the order of deaths when the insured and the beneficiary die in the same accident. For example, if the insured is deemed to have died first, ...
Have a question or comment?
We're here to help.