April 17, 2025
What is Difference in Conditions Insurance?
A Difference in Conditions (DIC) policy covers risks excluded from standard property insurance policies. They fill gaps left by primary insurance, providing coverage for unpredictable and severe catastrophic events.
Who Needs a DIC Policy?
DIC policies benefit property owners in high-risk areas prone to natural disasters or businesses needing broader coverage for specific risks not covered by their primary insurance.
What Does a DIC Policy Cover?
- Flood damage
- Earthquake damage
- Landslides
- Business interruption losses
- Spoilage of perishable goods
- Terrorism and other unusual risks
How Does a DIC Policy Work?
A DIC policy supplements your existing coverage. If a covered peril occurs and isn’t covered by your primary policy, the DIC policy provides the necessary coverage, acting as primary or excess coverage depending on your existing insurance.
Why is DIC Coverage Important?
DIC coverage ensures comprehensive risk management, protecting against a broader range of potential losses. It offers peace of mind and financial stability, helping businesses recover quickly from unexpected events.
How Much Does a DIC Policy Cost?
The cost varies based on property location, risk level, and coverage extent. Consult with an insurance agent for a personalized quote.
Can I Customize a DIC Policy?
Yes, DIC policies are customizable. Work with your insurance agent to tailor the coverage to your specific needs, ensuring adequate protection for your property or business.