Which characteristic describes the TDP 1 policy?

The TDP 1 policy, often referred to as the Texas Dwelling Policy, is designed primarily for landlords who rent out properties. It provides general property insurance that covers potential risks associated with rental properties, making it suitable and adequate for landlords. This policy can protect landlords from various liabilities and offers coverage for the structure itself, although it may not cover personal property within the unit.

The other options describe aspects that do not align with the core characteristics of the TDP 1 policy. Comprehensive coverage for all perils is more reflective of an all-risk policy rather than a named peril policy like the TDP 1. While TDP policies may include theft coverage, they do not universally exclude theft-related incidents, so option three is inaccurate. Lastly, the TDP 1 policy is focused on actual cash value rather than being strictly limited to replacement cost value. Thus, the option that highlights adequate coverage for landlords accurately captures the essence of what the TDP 1 policy is designed to provide.