commercial property insurance Flashcards
the common policy conditions page
contain the legal obligations and duties of the insured
what is the amount of time and amount of coverage for fungus, bacteria?
12 months for up to $15,000
does the broad form contain sewer backup?
no
does the broad form cover water damage loss including the cost to tear out a part of the building to repair damages?
yes
how much is covered for personal property under the broad form?
5,000
how much is covered for debris removal and for how long?
180 days 25% of loss
if the property has exhausted the limits how much will be paid for debris removal?
$10,000
how many days are covered for perils for property that is being moved from one place to another
30 days
how much is the fire department charge max?
1,000
how much is pollutant covered for?
$10,000
what is the max coverage for newly acquired or constructed property?
$250,000 if insurer is notified with in 30 days
what is the max coverage for business personal property for newly acquired buildings?
$100,000
how much is covered by personal effects?
$2,500
how much is covered for valuable paper and records?
$2,500
how much is covered for property off premises?
$10,000
how much is max covered for outdoor fences, trees attentennas?
$1,000
how much is covered for a tree or shrubs?
$250
what is standard deductible?
$250
what amount is covered on a replacement cost basis?
$2,500
in excess of $2,500 how is the losses paid?
actual cash value
when does coverage end under the commercial builders risk coverage form
90 days after complete or 60 days after any structure has been occupied
how many hours does the period of restoration begin for the business income coverage form?
72 hours
