Florida Insurance Licensing Practice Exam

Which dwelling policy form is considered 'all risks'?

1. DP-1

2. DP-2

3. DP-3

4. None of the above

The correct answer is: DP-3

The 'all risks' policy is considered the most comprehensive dwelling policy. Option A, DP-1, is a Basic Form policy and only provides coverage for specifically named perils. Option B, DP-2, is a Broad Form policy and also only covers specifically named perils with the addition of some basic perils. Option D, None of the above, is incorrect because DP-3 is indeed considered an 'all risks' policy. It provides coverage for all perils unless they are specifically excluded. So Option C, DP-3, is the correct answer.