Comparison Guide for Dwelling and Homeowner Programs

American Modern’s Dwelling Programs

American Modern offers three options for dwelling or residential insurance. Because our coverage and options are
different than what you typically deal with, this highlight chart will help you choose the best fit for your customer.

DP-1 Specialty Homeowners
Standard Program
Specialty Homeowners
Enhanced Program
DP-3
Overview This program is intended for homes needing just market valuation and named peril coverage.

It also works well for owners who do not want an HO-3 policy or do not need liability protection.

This program accepts vacant property.

This program is a good fit for homes not eligible in standard market due to age, value, or past claims.

It also works well if replacement cost is not required.

It offers a package of named peril property coverage plus liability

The Enhanced Coverage endorsement adds additional perils and includes limited water coverage.

With the Enhanced Coverage and upgrading to replacement cost, this program approximates an HO-2 policy.

Comprehensive (dwelling/other structure)

Named peril (personal property)

This is a Special Form program.

Occupancy Owner
Vacant
Seasonal
Rental
Owner
Seasonal
Seasonal Rental
Property description Up to four-family
No age restriction
Fair or better condition
Single or two-family
No age restriction
Average or better condition, showing proper maintenance
Up to four-family
80 years or newer for most states, with roof 20 years or newer
Above average or better condition
Examples A lower value rental or seasonal property
A cabin with minimal amenities
A vacant house under renovation
A home that does not qualify for or
need homeowners coverage.
An owner-occupied home of middle value
A summer home on a lake
The homeowner does not qualify for an HO-3.
A higher end rental property
A second home used for just a few months a year
A nice vacant home that will be rented out after renovations
Condominiums are not eligible
Insured for Market value Market value
Replacement cost option (most states)
Replacement value
Protection class  1 – 10  1 – 10  1 – 10
Coverage Named peril1
(dwelling/other structure)
Named peril (personal property)
This is a Basic Form program with flexibility to add options.
Named peril1 (dwelling/other structure)
Named peril (personal property)
This is a Basic Form package program with extras.
Additional covered perils include:
• Collapse • Power surge
• Freezing • Falling objects
• Weight of snow or ice
• Water from plumbing, heating or
AC (limited)
 Comprehensive (dwelling/other structure)
Named peril (personal property)
This is a Special Form program.
Loss settlement – dwelling Actual cash value
Full repair cost option (most states)
Actual cash value
Full repair cost option (most states)
Replacement cost option (most states)
Replacement cost
Actual cash value option (most states)
Agreed value modified functional replacement cost option (most states)
Loss settlement – personal property Actual cash value Actual cash value
Replacement cost option (most states)
Actual cash value
Replacement cost option (most states)
Included coverage Other structures
Reasonable repairs
Loss of use or rent
Fire department surcharge
Other structures Personal property
Reasonable repairs Vandalism
Loss of use Burglary
Liability
Fire department surcharge
Other structures
Reasonable repairs Vandalism
Loss of rent
Limited water
Fire department surcharge
 Optional coverage Liability
Personal property
Vandalism Identity recovery
Burglary Vacancy permission
Short-term rental
Occasional rental
Fair rental value
Identity recovery
Limited theft
Water backup
Hobby farming
Liability
Personal property
Identity recovery
Burglary Vacancy permission
Short-term rental
Occasional rental
Fair rental value
Special notes A stand-alone structure, such as a boat house or pole barn, can be written as a DP-1 seasonal.

Liability can be excluded to allow for an ineligible animal or business on premises.

Vacant condo is available in some states

Animal liability can be excluded. Vacancy permission allows for short-term vacancy without a cancel/rewrite of the policy.

Liability can be excluded to allow for an ineligible animal or business on premises.