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HOMEOWNERS [Package Policy, multiline, [property + liability] (Additional…
HOMEOWNERS
[Package Policy, multiline, [property + liability]
COVERAGES
A Dwelling
B Other Structures
C pers. prop.
D loss of use
standard mortgage clause
can pay premium
file claim
rec. adv. cancel. notice
can collect despite dishonesty
ELIGIBILITY
Owner occupied
no +4 dwelling
residence=primary purpose
dwelling under construct. (for owner occupant)
Endorsements
mobile homes
INSURED
Owner
Resident relatives
resident under 21 or in care of ED [exchange student]
full-time student under 24, relative, prior resident of household
if ED dies, policy in force with reps. until replaced or expires
CONDITIONS
CANCELLATION BY INS. CO.
First 60 days-10 day notice min.
After 60 days
material misrep
substantial change in risk
premium not pd.--10 days notice
NONRENEWAL
30 day adv. notice
CLAIM VALUES
Paid in ACV [Replac-deprec], but no more than cost to repair/replace
pers. prop. 2. awnings, carpet, appliances, outdoor anten/equipment 3. Structures not bldgs: pools, fences
FORMS
HO2
Broad; owner occu.
COV A & B
Broad
| COV C & D
Broad
EXC: Collapse by earthquake
Collapse|Landlord furnishings $2500 | Grave markers $5K | Law 10% increased cost up to 10% x dwelling limit.
HO3
Special; owner occu
COV A & B & D
Special
| COV C
Broad
EXC: collapse by earthquake
Collapse|Landlord furnishings $2500 | Grave markers $5K | Law 10% increased cost up to 10% x dwelling limit.
HO4
Tenants/Renters
COV A & B
n/a
| COV C & D
Broad
HO5
Comprehensive; owner occu
COV A, B, C, D
Special
EXC: collapse by earthquake
Collapse|Landlord furnishings $2500 | Grave markers $5K | Law 10% increased cost up to 10% x dwelling limit.
HO6
Condo. Owner
COV A & B
Broad
| COV C & D
Broad
HO8
Modified form
COV A & B
Basic
| COV C & D
Basic
COV A
Dwelling
Dwelling includes property attached
construction materials on premises
no cov. for renter
COV B
Other structures
excluded from HO 4 Renters
sep. by clear space
not business
COV C
Personal property
not attached
anywhere in world
guest property if requested
Exclusions
pets, motor., renter's prop or boarders
SPEC. Limits
$200 money
$1500: paper valuable, watercraft, trailers, theft of jew. furs, precious stones, prop. away from premise for bus. purpose not in vehicle, port. electronic in motor vehicle (cell), media use with elect. equipment in mot. vehicle.
$2500: guns, silver, gold, plat, pewter, trophies, property for business purposes
COV D
Loss of Use Special Limits in all HO Coverages
uninhabitable--living expenses
rental value
loss of use due to dir. damage to neighboring premise
NAMED PERILS
BASIC
: FLI
EC:
WCSHAVVER + V&MM [HO automatically covers theft]
Theft exclusions:
by insured
from dwelling under constructions
rental portion of premises
watercraft off premises
mysterious disappearance
BROAD PERILS
All BASIC + BIG AFFECT smoke by fireplace
SPECIAL/OPEN PERILS
all unless excluded
GEN EXCLUSIONSI
WAR
NEGLECT
WATER (unless geog reg)
Earth mov. (unless geog reg)
Power failure off premise
Ordinance Law
Intentional
Nuclear
Gov. seiz
Loss to property: faulty zoning, workmanship, materials, maintenance
Additional Coverages
Debris removal $1K/occu | $500/tree, max 5% cov in addition to limit.
Reasonable repairs
Fire dept $500, no deductible
Prop. removed 30 days
Credit cards, counterfeit money. Max $500, no deductible
Loss Assessment max $1000. Deductible applied once
Broken glass
COLLAPSE
HO2, 3, 4, 5, & 6
LANDLORD'S FURNISHINGS
HO2, 3, & 5
BUILDING ADDITIONS /ALTERATIONS
HO4
IMPROVEMENTS / BETTERMENTS GRAVE MARKERS
HO 2, 3, 4, 5 & 6
ORDINANCE / LAW
HO 2, 3, 4, 5, & 6
SEC 1 Prop.Endorsements
pers. property replacement cost, instead of ACV, open perils, no deductible, replacement coverage
permitted incidental occupancies
Earthquake, 1 deduct 72hrs
Lim. fungi, wet/dry rot/ bacteria HO3&HO5, caused by cov. peril
Home day care #children
SECTION II LIABILITY
same in all HO forms
COV E
Pers. Liability :
BI + PD
ED's fault
Anywhere in the world
COV F
Med /no fault, goodwill
To the other guy
no fault nec.
on/off premises if due to activities
Domestic employees on/off premises
3yrs
Watercraft
boats in storage
sailing vessels (-26', +26' if not owned/rented by ED
boats: inboard motors 25hp/-
boats: outboard motors 25hp/-
SECT II EXCLUSIONS
Intentional
liability assum. via contract
PI losses
BI/PD out of bus. pursuit/rental of premises
arising from ownership/maintenance, use, aircraft, mot. veh, watercraft
transmis. disease
sex.molestation, phy-ment abuse, drugs
SEC II ++COVERAGES
no additional charge
Pymt +policy limits
BAILED
SEC II ENDORSEMENTS
Watercraft +25hp outboard | +50hp | sail +26'
Personal Injury
Bus. pursuits away from premises ONLY while in the employment of someone else
Incidental occupancies: home-based bus. | only what is listed
Home DayCare, #, Sex. phy pun. excluded
fungi: all damages arising from dir./indir. contact w/mold.