The following topics pertain to the Wisconsin Insurance Plan Dwelling Property Program. You can scroll down the page to read each one or you can click and go directly to the topic.
Basic Policy Form, Coverages, and Loss Settlement Provision.
Basic Deductible and Credits for Increased Deductibles.
On-Premises Personal Property Theft Coverage Endorsement.
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A one to four family residence either owner or tenant occupied with no more than five roomers or boarders. |
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Renter's personal property. |
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Condominium unit-owners including personal property. |
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Mobile Homes on a permanent foundation. |
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Seasonal dwellings. |
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Dwelling Under Construction (provide copy of construction contract indicating final cost with application). |
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Vacant or unoccupied residences undergoing active rehabilitation. |
Active farms are not eligible for coverage.
We do not offer a Replacement Cost coverage policy. We suggest the Dwelling limit requested be the Market Value of the dwelling (not lot/land) plus an additional sum for Debris Removal / Site Restoration in the event of a total loss. We suggest the limit requested for Personal Property be based on the actual cash value of the property. For properties under rehabilitation, we suggest a limit which includes the cost of the rehab to the property.
Maximum limit on Dwelling: $200,000
Maximum limit on Personal Property: $100,000
Policy limits (subject to the provisions of the policy):
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10% of the Dwelling limit for Other Structures, not as an additional amount of insurance. Limit may be increased. |
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10% of the Dwelling limit for Fair Rental Value, not as an additional amount of insurance. |
BASIC POLICY FORM, COVERAGES, AND LOSS SETTLEMENT PROVISION.
The Plan uses the Insurance Services Office Basic Form - DP 00 01 with the Modified Loss Settlement Endorsement - DP 00 08. We may add limiting or exclusionary endorsements to the policy. The producer may request copies of the policy forms and endorsements in use by the Plan. Contact us with any questions.
Policy causes of loss:
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Fire, lightning, and internal explosion, required. |
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Extended coverage perils (wind, hail, explosion, riot, aircraft, vehicles, smoke), if requested. |
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Vandalism or malicious mischief, if requested. |
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On-Premises Personal Property Theft, if requested and by policy endorsement. |
Personal property losses are settled on an actual cash value basis. Partial building losses are settled on the cost of repairs using common construction methods. We do not offer replacement cost settlements for Personal Property or Dwelling coverages.
The statements above provide only a brief description of the coverages provided. Please review the policy for exact, detailed information on coverages.
The policy provides no Personal Liability or Medical Payments to Others coverages. We do not offer these coverages in the Dwelling Property program.
BASIC DEDUCTIBLE AND CREDITS FOR INCREASED DEDUCTIBLES.
The basic deductible is $250. We will require an increased deductible if the customer has an active claim history or for higher valued homes. The producer may wish to suggest a larger deductible to customers as increased deductibles lower premiums.
We require a minimum $500 deductible when the Dwelling limit reaches $75,000 and a $1000 deductible when the Dwelling limit reaches $150,000.
In the Dwelling Property Program, different credits are given for the Fire portion of the total premium and for the Extended Coverage / Vandalism portion. The following are approximate premium credits from the $250 deductible premium shown in our premium tables for your use in quotes:
| Deductible | $1,000 | $2,500 |
| Approximate Percentage Credit | 7% | 15% |
ON-PREMISES PERSONAL PROPERTY THEFT COVERAGE ENDORSEMENT:
This is an endorsement for Personal Property coverage. Therefore, Personal Property coverage must be purchased to receive this endorsement. We may decline the request for higher limits if the customer has an active theft claim history.
For an Owner-Occupied Residence, limits of $1000, $2000, $3000, $4000, and $5000 are available.
For a Non-Owner-Occupied Residence, limits of $3000, $4000, and $5000 are available.
Premiums for this endorsement are not on this website. You must make a complete submission for a quotation.
Our website contains premium tables for tenant occupied / rehab properties. You may provide your customer with a quote for the first year premium. Of course, all quotes are subject to the submission being eligible or acceptable for coverage. Renewal premiums are subject to condition charges.
Go to Premiums.
Our website does not contain personal property premium tables or premium tables for seasonal or owner occupied dwellings. You must make a complete submission for premium information on these risks.
You may print Dwelling Property Program applications from our web site. Go to Applications.
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Most recent update: March, 2008
For more information, contact thewip@execpc.com
© 2003 Wisconsin Insurance Plan