Dwelling Policy 5% Flashcards
1
Q
Homeowners vs DWELLING
A
● It only offers property coverage, not liability (unless an endorsement is added)
● The owner is not required to live at the residence
● The owner can be a person OR a corporation
A company that wants to insure a dwelling for use by its out-of-town visitors would not be eligible for a homeowner’s policy, but it could get a dwelling policy.
2
Q
Dwelling Policy Eligibility
A
● Persons or corporations not eligible for homeowners insurance
● Persons or corporations who do not need HO options
3
Q
Eligible Structures
A
● Single-family homes
● 1-4unit dwellings (duplexes, four-plexes, etc.)
● Dwellings with no more than 5 occupants
● Mobile homes, if permanently installed
● Incidental business risks, if insurer allows
Examples include:
● A duplex rented to others
● A low-value home
● A home with a low-balance mortgage
● A hunting cabin
4
Q
Dwelling Forms
A
Three forms:
1. DP-1 “Basic Form”
2. DP-2 “Broad Form”
3. DP-3 “Special Form”
5
Q
DP-1
A
“Basic Form”
6
Q
The Dwelling Forms: DP-1 “Basic Form”
A
● Named-peril coverage
● Covers only fire, lightning, internal explosion
Extended Coverage
● Vandalism and Malicious Mischief (VMM)
○ intentional injury or destruction of covered property
○ does not include: pilferage, theft, burglary, larceny
Extended Coverage (WCSHAVVER)
Windstorm
Civil commotion
Smoke
Hail
Aircraft
Vehicles
Volcanic eruption
External explosion
Riot
7
Q
DP - 2
A
Broad Form
8
Q
The Dwelling Forms: DP - 2 Broad Form
A
All DP-1 and Extended
Coverage perils ,plus
Broad form perils:
- Vandalism and Malicious Mischief
- Damage by burglars
- Glass breakage in occupied dwellings
- Falling objects that damage the exterior
- Weight of precipitation
- Sudden tearing apart, cracking, burning, bulging
- Accidental discharge
- Collapse
- Freezing
9
Q
DP - 3
A
Special Form
10
Q
The Dwelling Forms: DP - 3 Special Form
A
Structure: Open Peril Coverage
● General Exclusions listed in the policy
● Settling, cracking, shrinking, bulging of patios, foundations, etc.
● Damagefrom birds, insects, vermin, domestic animals
● Windorhail damage to antennas, lawns, trees
● Ice or snow damage to awnings, fences, outdoor structures, foundations
● Theft of anything not part of structure
● Pollutant damage
● Gradual or expected loss from wear & tear, marring, or deterioration
● Mechanical breakdown
● Inherent vice: a characteristic of an item that causes it to damage or destroy
itself (different than “wear & tear,” which is deterioration caused by an external
source)
● Smoke from agricultural or industrial operations
Personal Property: Same as DP-2
11
Q
Dwelling Policy Sections
A
● Coverage A
● Coverage B
● Coverage C
● Coverage D
● Coverage E
● Additional Coverages
● Exclusions
● Conditions
● Endorsements, if any
12
Q
Coverage for Direct Losses: Coverage A
A
Dwelling
13
Q
Coverage A– Dwelling
A
● Principal dwelling
● Attached structures: garages, apartments, etc.
● Service machinery: furnace, A/C compressor, etc.
● Building materials on or next to the dwelling (if they will become part of the dwelling eventually)
Not Included under Coverage A:
● Construction tools
● Damage to the land itself
14
Q
Coverage for Direct Losses: Coverage B
A
Other Structures
15
Q
Coverage B– Other Structures
A
● structures that are not attached to
dwelling
● Detached garage, guesthouse, shed, gazebo, fence, mailbox, lamppost
Limit: 10% of Coverage A limit (per claim)
● UnderDP-1, the 10% is included as part of Coverage A limit
● InDP-2and DP-3, the 10% is added to the Coverage A limit
16
Q
Appurtenant Physical Structures (APS):
A
structures that are not attached to
dwelling
17
Q
Coverage for Direct Losses: Coverage B Exclusions
A
● Buildings used for business or farming (unless used only for storing equipment)
● Buildings rented to someone who is not a tenant of principal dwelling (unless rented as private garage only)
- Gravestones, plots, mausoleums
18
Q
Coverage for Direct Losses: Coverage C
A
Personal Property
19
Q
Coverage C– Personal Property
A
Any personal property located on the insured premises
Coverage for property off-premises:
● Limit: 10% of Coverage C limit
● Not additional insurance
20
Q
Coverage for Direct Losses: Coverage C Exclusions
A
● Animals
● Vehicles
● Aircraft, hovercraft
● Boats
● Paper and electronic data
● Credit and debit cards
● Money
● Grave markers
● Water or steam
21
Q
Coverages A, B, & C cover ______ Losses
A
Direct loss: loss to tangible property, such as to building or personal property
22
Q
Coverages D & E cover ________ losses.
A
Indirect loss: economic loss that results from a direct loss
23
Q
Coverage for Indirect Losses: Coverage D
A
Fair Rental Value (FRV)
24
Q
Coverage D– Fair Rental Value (FRV)
A
● Pays for rental income lost due to damage by an insured peril, such as fire
● Accounts for net loss, not for discontinued utilities
● Applies for the shortest time it takes repairs to be completed
25
Coverage for Indirect Losses: Coverage E
Additional Living Expense (ALE)
26
Coverage E: Additional Living Expense (ALE)
● For the increase in the insured’s living expenses when a covered peril makes
the dwelling uninhabitable
● Maintains insured’s normal standard of living
● Does NOT include any normal, ongoing expenses the insured would be paying anyway (mortgage, etc.)
● Automatically included in DP-2 and DP-3
● Not included in DP-1 unless added by endorsement
27
Coverage for Indirect Losses: Limits
● Apply to Coverage D (FRV) and Coverage E (ALE)
● Policy covers these expenses for the shortest time required for the insured to:
○ repair or replace the property, or
○ settle elsewhere
Note: limit may be different for ALE in the DP-1
28
Coverage for Indirect Losses: Civil Authority Coverage
● Applies when a civil authority prohibits access to dwelling because of damages
at a nearby property
● Damagesmust have been caused by a covered peril
● Provides FRV and ALE for up to 2 weeks
29
Dwelling Additional Coverages: Debris Removal
Pays to clean up debris that is:
● Made up of covered property
● Damaged by a covered peril
30
Dwelling Additional Coverages: Reasonable Repairs
● Paysfor materials and labor to prevent further damage to covered property
after a loss
● Insured is required to protect damaged property
● Coverage is included within Coverage A limit
31
Dwelling Additional Coverages: Ordinance or Law Coverage
● Paysfor increased repair costs due to laws or building codes
● Available only on DP-2 and DP-3
● Provides additional 10% on top of Coverage A
32
Ordinance or Law Coverage - Excluded
● Any change that decreases value of property
● Any change that requires monitoring or testing
● Remediation of pollutants
● Confiscation, seizure, demolition, condemnation of property by government
33
Dwelling Additional Coverages: Fire Department Service Charge
Fire Department Service Charge
● Applies when the fire department charges to respond to covered peril
● Limit: $500
● Pays in addition to Coverage A limit
34
Dwelling Additional Coverages: Trees, Shrubs, Other Plants
● Covers plant damage caused by covered perils, except wind and hail
● Limit: 5% of Coverage A
● Individual limit: $500 for any one tree, shrub, or plant
● Pays in addition to Coverage A limit
35
Dwelling Additional Coverages: Property Removal
● Provides coverage for items that the insured removes from danger if a covered peril is imminent
● Property remains covered under the original peril for:
○ upto5days under DP-1
○ upto30days under DP-2 and DP-3
● No matter what damages the property during this time, it will still be covered
under the peril that the insured was trying to protect it from
36
Conditions: Insurable Interest and Limit of Liability
The insurer is not liable for an amount greater than either the insured's interest at the time of the loss or the applicable limit of liability, even if more than one person has
insurable interest in the covered property.
37
Conditions: Duties After Loss
The insurer is not required to provide coverage to an insured unless the insured does
the following:
● Gives insurer prompt notice of loss
● Protects the property from further damage
● Cooperates with the investigation of a claim
● Prepares an inventory of damaged property
● Shows the damaged property and provides any requested records and documents
● Submits to examination under oath
● Sends a signed proof of loss within 60 days of a request
38
Conditions: Deductible
The insurer will only pay the part of a loss that exceeds the deductible amount stated
in the Declarations. If there are two or more deductibles under a policy, the highest
deductible amount applies.
39
Conditions: Concealment or Fraud
Coverage does not apply to a person who intentionally conceals or misrepresents any material fact or circumstance, engages in fraudulent conduct, or makes false statements.
40
Conditions: Loss Settlement
This provision details how different types of property losses are settled.
41
Conditions: Loss To A Pair Or Set
In the event of a loss to a pair or set, the
insurer may choose to either repair or
replace any part to restore the pair or set
to its previous value, or pay the difference
between the actual cash value of the
property before and after the loss
42
Conditions: Appraisal
If the insurer and the insured disagree on the amount of loss, either party can demand an appraisal of the loss. A decision agreed on by either both appraisers or by one
appraiser and an umpire will determine the amount of loss.
43
Conditions: Other Insurance and
Service Agreement
This provision details how an insurer will
pay for losses that are covered by other
insurance or a service agreement.
44
Conditions: Suit Against Us
The insured cannot take action against
an insurer unless the insured has fully
complied with all the terms of a policy
and the action is started within two
years of the date of loss.
45
Conditions: Our Option
The insurer can repair or replace any part of a damaged property with material or
property of like kind and quality, as long as they give written notice within 30 days of
receiving proof of loss.
46
Conditions: Loss Payment
This provision clarifies how, when, and to whom a claim will be paid.
47
Conditions: Abandonment of Property
The insurer will not accept property that has been abandoned by the insured.
48
Conditions: Mortgage Clause
Not only does this provision ensure that the lender will be indemnified in the event of a
loss, it also establishes the mortgagee’s rights to receive notice if the policyholder
either fails to adhere to the contract, or does not pay policy premiums.
49
Conditions: Policy Period
An insurance policy only applies to a loss that occurs during the policy period.
50
Conditions: No Benefit to Bailee
Coverage will not benefit a third party who is holding, storing, or moving the insured's
property for a fee.
51
Conditions: Nuclear Hazard Clause
A loss caused by any nuclear reaction, radiation, or radio active contamination is not covered, unless the loss was directly caused by a fire resulting from the nuclear hazard
52
Conditions: Recovered Property
If either party recovers property involved in a claim after the claimant has already
been indemnified, that party must notify the other of the recovery. The recovered
property can either be returned to the insured or kept by the insurer.
53
Conditions: Volcanic Eruption Period
One or more volcanic eruptions that occur
within a 72-hour period are considered one
volcanic eruption.
54
Conditions: Loss Payable
This provision ensures that a lender will be listed as a payee under the policy if a loss
or damage occurs.
55
Conditions: Subrogation
Before a loss, the insured can transfer to the insurer his right to collect the amount of
the indemnity from the guilty party.
56
Conditions: Cancellation
The insured may cancel a policy at anytime, but an insurer is much more
restricted.
57
Conditions: Nonrenewal
If an insurer chooses not to renew a policy, it must send written notice to the insured
at least 30 days before the policy's expiration date
58
Conditions: Liberalization
This provision refers to when the insurer expands coverage and current insureds benefit automatically without paying higher premiums.
Applies to changes made during or up to 60 days before the policy period.
59
Conditions: Waiver Or Change Of Policy Provisions
Waivers or changes of provision are only valid if they are in writing.
60
Conditions: Assignment
This provision prohibits the insured from transferring a policy to someone else without the insurer’s written consent.
61
Conditions: Death
If the insured dies, his policy will cover legal representatives and those who have proper temporary custody of the property until a legal representative is appointed.
62
Valuation
DP-1
policies settle Coverages A and B at ACV.
63
Valuation DP-2 and DP-3:
settle coverages A and B at replacement cost if property is insured to
at least 80% of value (Loss Settlement provision is just like HO policy)
64
Coverage L–Personal Liability
○ covers bodily injury and property damage to 3rd party
○ pays for legal defense
○ minimum limit = $100,000
65
Coverage M–Medical Payment to Others
○ no-fault coverage
○ pays for necessary, reasonable medical expenses for 3rd party injured
on insured’s premises
○ minimum limit = $1,000
● No coverage for loss assessment
66
Other Popular Endorsements: Theft
● “Limited” covers theft from premises
● “Broad” covers property anywhere
67
Other Popular Endorsements: Automatic Increase
raises coverage annually 4, 6, or 8%
68
Other Popular Endorsements: Dwelling Under Construction:
covers structure while being built
69
General Exclusions
Perils excluded from coverage:
● Water back-up from sewers or drains
● Water and water-borne materials or pollutants
● War and Nuclear Hazard
● Flood
● Off-premises power failure (but power failure on the property is covered)
● Earthquake, landslide, sinkhole, or any earth movement
● Neglect and intentional acts
70
● It only offers property coverage, not liability (unless an endorsement is added)
● The owner is not required to live at the residence
● The owner can be a person OR a corporation
A company that wants to insure a dwelling for use by its out-of-town visitors would not be eligible for a homeowner's policy, but it could get a dwelling policy.
Homeowners vs DWELLING
71
● Persons or corporations not eligible for homeowners insurance
● Persons or corporations who do not need HO options
Dwelling Policy Eligibility
72
● Single-family homes
● 1-4unit dwellings (duplexes, four-plexes, etc.)
● Dwellings with no more than 5 occupants
● Mobile homes, if permanently installed
● Incidental business risks, if insurer allows
Examples include:
● A duplex rented to others
● A low-value home
● A home with a low-balance mortgage
● A hunting cabin
Eligible Structures
73
Three forms:
1. DP-1 “Basic Form”
2. DP-2 “Broad Form”
3. DP-3 “Special Form"
Dwelling Forms
74
“Basic Form”
DP-1
75
● Named-peril coverage
● Covers only fire, lightning, internal explosion
Extended Coverage
● Vandalism and Malicious Mischief (VMM)
○ intentional injury or destruction of covered property
○ does not include: pilferage, theft, burglary, larceny
Extended Coverage (WCSHAVVER)
Windstorm
Civil commotion
Smoke
Hail
Aircraft
Vehicles
Volcanic eruption
External explosion
Riot
The Dwelling Forms: DP-1 “Basic Form”
76
Broad Form
DP - 2
77
All DP-1 and Extended
Coverage perils ,plus
Broad form perils:
- Vandalism and Malicious Mischief
- Damage by burglars
- Glass breakage in occupied dwellings
- Falling objects that damage the exterior
- Weight of precipitation
- Sudden tearing apart, cracking, burning, bulging
- Accidental discharge
- Collapse
- Freezing
The Dwelling Forms: DP - 2 Broad Form
78
Special Form
DP - 3
79
Structure: Open Peril Coverage
General Exclusions listed in the policy
● Settling, cracking, shrinking, bulging of patios, foundations, etc.
● Damagefrom birds, insects, vermin, domestic animals
● Windorhail damage to antennas, lawns, trees
● Ice or snow damage to awnings, fences, outdoor structures, foundations
● Theft of anything not part of structure
● Pollutant damage
● Gradual or expected loss from wear & tear, marring, or deterioration
● Mechanical breakdown
● Inherent vice: a characteristic of an item that causes it to damage or destroy
itself (different than “wear & tear,” which is deterioration caused by an external
source)
● Smoke from agricultural or industrial operations
Personal Property: Same as DP-2
The Dwelling Forms: DP - 3 Special Form
80
● Coverage A
● Coverage B
● Coverage C
● Coverage D
● Coverage E
● Additional Coverages
● Exclusions
● Conditions
● Endorsements, if any
Dwelling Policy Sections
81
Dwelling
Coverage for Direct Losses: Coverage A
82
● Principal dwelling
● Attached structures: garages, apartments, etc.
● Service machinery: furnace, A/C compressor, etc.
● Building materials on or next to the dwelling (if they will become part of the dwelling eventually)
Not Included under Coverage A:
● Construction tools
● Damage to the land itself
Coverage A– Dwelling
83
Other Structures
Coverage for Direct Losses: Coverage B
84
● structures that are not attached to
dwelling
● Detached garage, guesthouse, shed, gazebo, fence, mailbox, lamppost
Limit: 10% of Coverage A limit (per claim)
● UnderDP-1, the 10% is included as part of Coverage A limit
● InDP-2and DP-3, the 10% is added to the Coverage A limit
Coverage B– Other Structures
85
structures that are not attached to
dwelling
Appurtenant Physical Structures (APS):
86
● Buildings used for business or farming (unless used only for storing equipment)
● Buildings rented to someone who is not a tenant of principal dwelling (unless rented as private garage only)
- Gravestones, plots, mausoleums
Coverage for Direct Losses: Coverage B Exclusions
87
Personal Property
Coverage for Direct Losses: Coverage C
88
Any personal property located on the insured premises
Coverage for property off-premises:
● Limit: 10% of Coverage C limit
● Not additional insurance
Coverage C– Personal Property
89
● Animals
● Vehicles
● Aircraft, hovercraft
● Boats
● Paper and electronic data
● Credit and debit cards
● Money
● Grave markers
● Water or steam
Coverage for Direct Losses: Coverage C Exclusions
90
Direct loss: loss to tangible property, such as to building or personal property
Coverages A, B, & C cover ______ Losses
91
Indirect loss: economic loss that results from a direct loss
Coverages D & E cover ________ losses.
92
Fair Rental Value (FRV)
Coverage for Indirect Losses: Coverage D
93
● Pays for rental income lost due to damage by an insured peril, such as fire
● Accounts for net loss, not for discontinued utilities
● Applies for the shortest time it takes repairs to be completed
Coverage D– Fair Rental Value (FRV)
94
Additional Living Expense (ALE)
Coverage for Indirect Losses: Coverage E
95
● For the increase in the insured’s living expenses when a covered peril makes
the dwelling uninhabitable
● Maintains insured’s normal standard of living
● Does NOT include any normal, ongoing expenses the insured would be paying anyway (mortgage, etc.)
● Automatically included in DP-2 and DP-3
● Not included in DP-1 unless added by endorsement
Coverage E: Additional Living Expense (ALE)
96
● Apply to Coverage D (FRV) and Coverage E (ALE)
● Policy covers these expenses for the shortest time required for the insured to:
○ repair or replace the property, or
○ settle elsewhere
Note: limit may be different for ALE in the DP-1
Coverage for Indirect Losses: Limits
97
● Applies when a civil authority prohibits access to dwelling because of damages
at a nearby property
● Damagesmust have been caused by a covered peril
● Provides FRV and ALE for up to 2 weeks
Coverage for Indirect Losses: Civil Authority Coverage
98
Pays to clean up debris that is:
● Made up of covered property
● Damaged by a covered peril
Dwelling Additional Coverages: Debris Removal
99
● Paysfor materials and labor to prevent further damage to covered property
after a loss
● Insured is required to protect damaged property
● Coverage is included within Coverage A limit
Dwelling Additional Coverages: Reasonable Repairs
100
● Paysfor increased repair costs due to laws or building codes
● Available only on DP-2 and DP-3
● Provides additional 10% on top of Coverage A
Dwelling Additional Coverages: Ordinance or Law Coverage
101
● Any change that decreases value of property
● Any change that requires monitoring or testing
● Remediation of pollutants
● Confiscation, seizure, demolition, condemnation of property by government
Ordinance or Law Coverage - Excluded
102
Fire Department Service Charge
● Applies when the fire department charges to respond to covered peril
● Limit: $500
● Pays in addition to Coverage A limit
Dwelling Additional Coverages: Fire Department Service Charge
103
● Covers plant damage caused by covered perils, except wind and hail
● Limit: 5% of Coverage A
● Individual limit: $500 for any one tree, shrub, or plant
● Pays in addition to Coverage A limit
Dwelling Additional Coverages: Trees, Shrubs, Other Plants
104
● Provides coverage for items that the insured removes from danger if a covered peril is imminent
● Property remains covered under the original peril for:
○ upto5days under DP-1
○ upto30days under DP-2 and DP-3
● No matter what damages the property during this time, it will still be covered
under the peril that the insured was trying to protect it from
Dwelling Additional Coverages: Property Removal
105
The insurer is not liable for an amount greater than either the insured's interest at the time of the loss or the applicable limit of liability, even if more than one person has
insurable interest in the covered property.
Conditions: Insurable Interest and Limit of Liability
106
The insurer is not required to provide coverage to an insured unless the insured does
the following:
● Gives insurer prompt notice of loss
● Protects the property from further damage
● Cooperates with the investigation of a claim
● Prepares an inventory of damaged property
● Shows the damaged property and provides any requested records and documents
● Submits to examination under oath
● Sends a signed proof of loss within 60 days of a request
Conditions: Duties After Loss
107
The insurer will only pay the part of a loss that exceeds the deductible amount stated
in the Declarations. If there are two or more deductibles under a policy, the highest
deductible amount applies.
Conditions: Deductible
108
Coverage does not apply to a person who intentionally conceals or misrepresents any material fact or circumstance, engages in fraudulent conduct, or makes false statements.
Conditions: Concealment or Fraud
109
This provision details how different types of property losses are settled.
Conditions: Loss Settlement
110
In the event of a loss to a pair or set, the
insurer may choose to either repair or
replace any part to restore the pair or set
to its previous value, or pay the difference
between the actual cash value of the
property before and after the loss
Conditions: Loss To A Pair Or Set
111
If the insurer and the insured disagree on the amount of loss, either party can demand an appraisal of the loss. A decision agreed on by either both appraisers or by one
appraiser and an umpire will determine the amount of loss.
Conditions: Appraisal
112
This provision details how an insurer will
pay for losses that are covered by other
insurance or a service agreement.
Conditions: Other Insurance and
Service Agreement
113
The insured cannot take action against
an insurer unless the insured has fully
complied with all the terms of a policy
and the action is started within two
years of the date of loss.
Conditions: Suit Against Us
114
The insurer can repair or replace any part of a damaged property with material or
property of like kind and quality, as long as they give written notice within 30 days of
receiving proof of loss.
Conditions: Our Option
115
This provision clarifies how, when, and to whom a claim will be paid.
Conditions: Loss Payment
116
The insurer will not accept property that has been abandoned by the insured.
Conditions: Abandonment of Property
117
Not only does this provision ensure that the lender will be indemnified in the event of a
loss, it also establishes the mortgagee’s rights to receive notice if the policyholder
either fails to adhere to the contract, or does not pay policy premiums.
Conditions: Mortgage Clause
118
An insurance policy only applies to a loss that occurs during the policy period.
Conditions: Policy Period
119
Coverage will not benefit a third party who is holding, storing, or moving the insured's
property for a fee.
Conditions: No Benefit to Bailee
120
A loss caused by any nuclear reaction, radiation, or radio active contamination is not covered, unless the loss was directly caused by a fire resulting from the nuclear hazard
Conditions: Nuclear Hazard Clause
121
If either party recovers property involved in a claim after the claimant has already
been indemnified, that party must notify the other of the recovery. The recovered
property can either be returned to the insured or kept by the insurer.
Conditions: Recovered Property
122
One or more volcanic eruptions that occur
within a 72-hour period are considered one
volcanic eruption.
Conditions: Volcanic Eruption Period
123
This provision ensures that a lender will be listed as a payee under the policy if a loss
or damage occurs.
Conditions: Loss Payable
124
Before a loss, the insured can transfer to the insurer his right to collect the amount of
the indemnity from the guilty party.
Conditions: Subrogation
125
The insured may cancel a policy at anytime, but an insurer is much more
restricted.
Conditions: Cancellation
126
If an insurer chooses not to renew a policy, it must send written notice to the insured
at least 30 days before the policy's expiration date
Conditions: Nonrenewal
127
This provision refers to when the insurer expands coverage and current insureds benefit automatically without paying higher premiums.
Applies to changes made during or up to 60 days before the policy period.
Conditions: Liberalization
128
Waivers or changes of provision are only valid if they are in writing.
Conditions: Waiver Or Change Of Policy Provisions
129
This provision prohibits the insured from transferring a policy to someone else without the insurer’s written consent.
Conditions: Assignment
130
If the insured dies, his policy will cover legal representatives and those who have proper temporary custody of the property until a legal representative is appointed.
Conditions: Death
131
policies settle Coverages A and B at ACV.
Valuation
DP-1
132
settle coverages A and B at replacement cost if property is insured to
at least 80% of value (Loss Settlement provision is just like HO policy)
Valuation DP-2 and DP-3:
133
○ covers bodily injury and property damage to 3rd party
○ pays for legal defense
○ minimum limit = $100,000
Coverage L–Personal Liability
134
○ no-fault coverage
○ pays for necessary, reasonable medical expenses for 3rd party injured
on insured’s premises
○ minimum limit = $1,000
● No coverage for loss assessment
Coverage M–Medical Payment to Others
135
● “Limited” covers theft from premises
● “Broad” covers property anywhere
Other Popular Endorsements: Theft
136
raises coverage annually 4, 6, or 8%
Other Popular Endorsements: Automatic Increase
137
covers structure while being built
Other Popular Endorsements: Dwelling Under Construction:
138
● Water back-up from sewers or drains
● Water and water-borne materials or pollutants
● War and Nuclear Hazard
● Flood
● Off-premises power failure (but power failure on the property is covered)
● Earthquake, landslide, sinkhole, or any earth movement
● Neglect and intentional acts
General Exclusions
Perils excluded from coverage:
