If a DP-3 policy insures a dwelling, which of the following perils would it NOT cover?

The answer indicates that a DP-3 policy does not cover theft of personal property in the dwelling. This is correct because the DP-3 policy, also known as the Special Form policy, provides coverage for the dwelling itself and other structures on the premises against all risks except those specifically excluded.

However, while the dwelling is covered for a wide range of perils including theft of the building itself (not personal property), personal property is not covered under a DP-3 policy unless a tenant or homeowner policy is applied or if there is an endorsement added for personal property coverage. This policy primarily focuses on risks associated with the residence itself rather than personal items inside it.

The other options relate to risks that would typically be associated with properties insured under a DP-3 policy. Damage caused by burglars and vandalism damage are generally considered covered perils, as is impact from snow and ice, unless explicitly excluded in the policy terms. Therefore, the exception lies in the coverage of personal property, hence the choice regarding theft of personal property is the correct answer.