If an insured with a DP-2 policy has a canoe stored off premises, how much coverage can be claimed if that canoe is destroyed in a fire?

For a homeowner's policy, certain personal property is covered whether on or off premises. However, the DP-2 policy, which is designed for dwelling coverage (specifically for rental or non-owner-occupied homes), has more limited coverage provisions.

Under a DP-2 policy, personal property is typically covered while located on the premises of the insured dwelling. However, when it comes to personal belongings stored off premises, coverage is generally limited. The DP-2 policy is structured to offer less flexibility in terms of personal property coverage away from the insured location, which is unlike more comprehensive homeowner policies.

In this case, the canoe being stored off premises would not be covered under the DP-2 policy. This limitation means that if the canoe is destroyed in a fire while not on the insured property, the insured would not have any basis for a claim, hence resulting in no coverage being available for this loss.