Coverage Types
Difference in Conditions (DIC)
Definition
A supplemental insurance policy that provides coverage for perils excluded by standard property insurance policies. DIC policies most commonly fill gaps for flood and earthquake coverage on commercial properties, and can also cover other excluded perils. They are typically written on a broader, all-risk basis.
In Zach’s Words
“A DIC policy is like a safety net for your safety net. Your standard commercial property policy has exclusions — usually flood and earthquake. A DIC policy steps in to fill those exact gaps. Think of it as the insurance equivalent of 'I noticed you forgot to cover that, so I've got you.' If you own commercial property in an area with flood or earthquake risk, this is the policy that makes sure you're not left holding the bag.”
— Zach Nadler, CIO