Differaence in Condition Insurance

It is called DIC insurance DIC insurance is short. This insurance policy covers all other perils not insured by the basic property insurance . So once property is additionally insured purchasing DIC insurance,no any type of policy is needed for that property. However DIC is less expensive than the purchase the separate policies for flood and earthquake etc. It costs less because it is excess over the underlying coverages, and it does not require either coinsurance or insurance to full value. DIC insurance is written as a separate contract to supplement the coverage provided by the underlying contracts. As such, it excludes perils covered by the underlying contracts malicious mischief and sprinkler leakage.Most other insurable perils are also covered . The policy can also be written to include coverage for flood, earthquake ,and building collapse.