The personal property under which dwelling policy option is covered worldwide up to 10%?

The personal property coverage in dwelling policies refers to the protection of personal items owned by the insured, which can include furniture, clothing, and various other possessions. Under the DP-3 policy, which is an open-peril form, personal property is indeed covered worldwide, and the policy extends coverage for personal property located away from the insured premises. This means that if personal belongings are temporarily away from home (e.g., while traveling), they are still protected, with a limitation that covers up to 10% of the amount of personal property coverage specified in the policy.

This worldwide coverage is a key feature of the DP-3 policy, making it advantageous for those who may travel frequently or have personal property stored in various locations. Understanding the distinctions between the different types of dwelling policies is crucial, as not all policies provide this level of coverage for personal property away from the insured dwelling. The DP-1 and DP-2 policies do not include the same extent of worldwide coverage, which is why they do not apply in this context. The focus on the DP-3 policy highlights its comprehensive nature for personal property coverage.