Which dwelling policy form provides the broadest peril coverage and pays losses on a replacement cost basis for the dwelling?

Why this is the answer

Dwelling policies (DP forms) cover non-owner-occupied residences such as rental properties. DP-1 (Basic) covers a short named-peril list and pays ACV only. DP-2 (Broad) adds more named perils and settles dwelling losses at replacement cost, but it stays named peril. DP-3 (Special) covers the dwelling on an open-peril basis — all perils unless excluded — and pays replacement cost. Note: personal property under DP forms is always named-peril regardless of form. The open-peril DP-2 option is the trap: DP-2 does pay replacement cost on the dwelling, but its perils are named, not open. See FL Outline §I.B.