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First, let me say that selling a DP-1 policy should be a very, very, very rare thing. You'll have one very upset client when a claim comes along, or worse, when something that they think should be covered isn't covered because its a DP-1.
I'd ask the carrier what they want for dwelling value. My guess is that they will want full reconstruction cost that they will then 'pro-rate' to ACV during claim time.
Dan
Hi all, I would like to know if you should put the ACV value as the insurance limits on an ACV policy or the Replacement cost on the ACV policy? Thank you for your input!