Which Dwelling Policy is known as the Basic Form?

The Basic Form of the Dwelling Policy is the DP-1. This policy provides the most limited coverage compared to the other dwelling policies. It is primarily designed for properties that may be unoccupied, seasonal, or for landlords who rent out properties but do not require comprehensive coverage. The policy typically covers specific perils such as fire, lightning, and internal explosion, offering more straightforward and essential protection.

Other dwelling policies like DP-2 and DP-3 provide broader coverage and include additional perils or coverage for the dwelling, which makes them more comprehensive than the DP-1. The HO-2 choice is actually a Homeowners policy, which serves a different purpose altogether. Therefore, the designation of DP-1 as the Basic Form is appropriate due to its minimalistic and foundational approach to insuring dwellings.