Homeowners Policies

Owner occupied only

no more that 2 families no more than 2 boarders

standard deductible $250

HO2- broad form- named peril

HO3- special form - open peril

HO4- Tenants broad form- contents broad form-apartments

HO6- condo unit-owners broad form

HO8- Modified form- historic homes

** Personal property in both dwelling and homeowners policies are written on a named peril basis.... unless an HO15 is endorsed

physical injury to destruction of or loss of use of tangible property (other people's stuff)

coverage A) dwelling

coverage B) other structures

coverage C) personal property

coverage D) loss of use

dwelling, other structures and grounds, or that part of any other building where the named insured lives

1) removal coverage for 30 days

2) costs for reasonable repairs (not additional)

3) fire department service charges: $500 from a covered peril deductible does not apply

4) lawns plants shrubs and trees: $500 per item, max 5% of coverage A on HO 1,2,3 and 8

5) Debris removal: covers reasonable removal related to insureds property loss, if over policy limit then 5% of coverage A

6) Credit card, fund transfer card, forgery: $500 for theft or forgery. no deductible, it is in addition

7) Loss assessment: $1000 limit on for shared charge made by an association of property owners

8) collapse of building: covers collapse caused by broad form perils or hidden decay insects or vermin, not in addition

9) Breakage of glass or safety glazing material: coverage will be suspended if the premises is vacant for 30 consecutive days

10) landlord furnishings

11) Building additions

12) ordinance law

Land

Other structures used for commercial perposes

Other structures held for rent to non-tenants (garage rented to a student for parties)

Accounts, bank notes, bills, bullion, deeds, goldware/ silverware

aminals, birds, fish

losses caused by flood, earth movement, acts of war or nuclear hazards

motor vehicles

FL REV CV SHAW VMM THEFT

Coverage A) given

Coverage B) 10% of A

Coverage C) 50% of A

Coverage D) 20% of A

+6 ADDITIONAL COVERAGES

damage from falling rocks

damage to a building or its contents caused by to heavy ice, snow sleet. damage to a fence, awnings, pavements, swimming pool and foundations are not covered.

accidental discharge or overflow of water or steam from plumbing

sudden and accidental tearing apart or cracking

freezing of plumbing heating or air

1) freezing of plumbing in a vacant or unoccupied, or under construction

2) Freezing, thawing, pressure, or weight of water or ice to a fence, pavement, patio, swimming pool, foundation

3) Theft in or to a dwelling under construction

4) damage by wind, hail, ice, snow, or sleet to outdoor radio, or t.v. antennas, lawns, trees, shrubs, Plants

5) VMM/theft if dwelling has been vacant for 30 consecutive days prior to the loss

6) constant or repeated seepage or leakage of water or steam

7) wear and tear

8) discharge of pollutants

9) settling or cracking bulging or expansion

10) loss caused by birds vermin insects domestic animals

Coverage A) Given

Coverage B) 10% of A

Coverage C) 50% of A

Coverage D) 20% of A

coverage C personal property is on a named peril basis. same as HO2 broad form.

Coverage A and Coverage B are on an open peril basis

FL REV CV SHAW VMM THEFT

+6 ADDITIONAL COVERAGES

damage from falling rocks

damage to a building or its contents caused by to heavy ice, snow sleet. damage to a fence, awnings, pavements, swimming pool and foundations are not covered.

accidental discharge or overflow of water or steam from plumbing

sudden and accidental tearing apart or cracking

freezing of plumbing heating or air

HO4-

Coverage A) n/a

Coverage B) n/a

Coverage C) Given

Coverage D) 20% of C

HO6-

Coverage A) $1000 flat rate but can buy more

Coverage B) n/a

Coverage C) Given

Coverage D) 40%of C

forms provide coverage based on HO2 broad form perils

HO4 and HO6 primarily provide coverage for coverage C and D loss of use

HO6 provides a flat $1000 coverage A dwelling

FL REV CV SHAW VMM THEFT

ACV basis

replacement cost basis

$200 for loss of money, silver, coins, bank notes, medals

$1000 for loss of theft by jewelery, watches, furs

DID/SHOULD x LOSS= claims payment

**SHOULD= 80% x replacement cost

limit $100,000 can endorse more

at its own expense the insurer will provide legal defense against claims. Obligations end when the insurer pays damages equal to the policy limit for any one occurrence. deductibles do not apply.

within 3 years of bodily injury

basic limit $1000

Scheduled Personal Property or Personal articles floater: Specifies the $$ amount on personal property that exceeds the sub-limits

Originally an inland marine policy; can be sold separately or as an endorsement

a branch of insurance developed from insuring shipments which DID NOT involve ocean voyages

also insures bridges and tunnels

injury other than bodily injury arising from false arrest detention malicious prosecution wrongful entry or eviction libel slander etc.

changes the property damage recovery to replacement cost from ACV

liability for bodily injury and property damage arising out of ownership maintenance of or use of excluded watercraft used for pleasure. boats under 26 ft.

provides that if Coverage A amount is not enough to replace the dwelling the insurer will automatically increase the coverage A to provide the full replacement cost

$500 for items that spoil due to loss of electricle power due to mechanical failure

theft of firearms in increased 10% of coverage C or $10,000 whichever is greater. Theft of goldware silverware and pewterware is increased 25% of coverage C or $10,000 whichever is greater

provides dwelling coverage, personal property, and liability coverage for owner-occupied homes. includes flood and theft as a covered peril

Allows for the merging of dwelling and commercial coverage. the HO coverage does not cover crops.

4 programs:

basic form

broad form

special form

farm tenants broad form

includes livestock poultry farm machinery etc.

separate policy that provides that same coverage as section 2 of the HO Policy

someone who lives in a home they don't own

government underwrites these.

two progrms:

Emergency: dwellings limit $35,000 personal property $10,000. deductible $1000 each one

Regular: dwelling limit $250,000 personal property limit $100,000. deductible $500 each

30 day waiting period unless the application is in conjunction with a mortgage closing

insurance exposures. for pleasure crafts. available as part of a HO policy, inland marine policy, and ocean marine policy

insuring outboard motors, motorboats against direct loss

covers: motors, motorboats, accessories, and trailers

Named or open peril

perils are damage by waves, sinking, stranding on reefs or rocks, lightning, collisions, fire, pirates, thieves, jettison, barratry, and damage caused by the insured to other vessels

Liability and indemity coverage protection picks up when Hull coverage is not enough

provides protection against loss to the insureds ship and its cargo machinery equipment and merchandise in transit

Includes liability to in the event of a collision with another ship and liability for injuries or damage to other property

used with HO policy and personal auto policies

it is excess coverage

increased limits from from the homeowners and auto are paid first then the umbrella minus the deductible pays the excess