Final answer:
The statement that the DP-1 basic form applies coverage to property that is removed because it is endangered by a covered peril is false.
Step-by-step explanation:
False. The DP-1 basic form, which is one of the types of standardized dwelling policies, typically provides coverage for a dwelling on an actual cash value basis.
However, it is important to note that the DP-1 form does not include coverage for property that is removed because it is endangered by a covered peril. Such coverage is often referred to as 'Property Removed' or 'Removal Coverage' and is usually available in broader forms like the DP-2 and DP-3 but absent in the basic DP-1 coverage.