Difference in Conditions (DIC)
Difference in Conditions (DIC) insurance is used to add other causes of loss (burglary, collapse, etc.) to supplement a restricted property insurance coverage form. It is used to add Earthquake and Flood insurance coverage. In both cases, the DIC broadens the insured’s property insurance coverage by adding new cause(s) of loss, whether it’s added to a property account written by Great American Insurance or issued as a stand alone policy to supplement another carrier’s coverage.
The nature of the coverage is to protect against infrequent large loss events. Covered property can include the insured’s real property, personal property and improvements as well as time element exposures. Limits may be purchased for less than the total exposed values; often the amount that the insured believes to be the Probable Maximum Loss due to the covered cause(s). Other reasons for lesser limits include, potential premium savings, or insufficient marketplace capacity (e.g. Earthquake insurance is added in high hazard, large population areas).
Close coverage gaps in your client’s property coverage by adding DIC from Great American Property & Inland Marine to all your accounts.