Homeowners Forms

Just as there are several Dwelling forms to provide increasing levels of coverage or to meet specific needs, there are six Homeowners forms to vary the extent of coverage. The HO-1 basic form has been withdrawn in most states.

HO-2 (Broad Form)

HO-3 (Special Form)

HO-4 (Content Broad form also known as "Tenants Form")

HO-5 (Deluxe Form-open peril coverage for building and contents)

HO-6 (Condominium Unit-Owners Form)

Each of the listed HO forms is divided into two sectionsL

• Section I- Property
• Section II- Liability

Section II is identical on all of the HO forms. The difference in forms are in the covered perils listed in Section I of the policy

HO-2

Form is a named peril form. All the perils that form the property insuring agreement are named. The perils are:

• Fire
• Lightning
• Windstorm or hail (interior damage from either is only coverd if the wind or hail first makes an opening in the building. Watercraft, outboard motors and related equipment are covered for these perils only while inside fully enclosed buildings)
• Explosion (both inside or outside the covered property)
• Riot and civil commotion
• Aircraft Damage
• Vehicle Damage (except damage to fences, driveways and walks when caused by a vehicle owned or operated by a member of the household)
• Smoke (except smoke from agricultural smudging or industrial operations). Also covers puffback- the release of soot, smoke vapor, or fumes from a furnace, boiler or similar equipment
• Vandalism or malicious mischief (unless the premises has been vacant for 60 or more consecutive days)

Pre-2000 forms

• Theft- includes loss of property from a known place when it is likely the property has been stolen. also includes attempted theft. does not cover theft from a dwelling under construction
• Volcanic eruption- excludes earthquake damage, land shock waves or tremors
• Falling objects that damage the covered property. (damage to contents is also covered if the falling object makes an opening in the roof or outside wall)
• Weight of ice and snow or sleet that damages the covered property. (does not cover damage to an awning, fence, patio, pavement, swimming pool, foundations, retaining walls, piers or docks.
• Accidental discharge of water or steam from heating, air conditioning or plumbing system.
• Sudden and accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, air conditioning system, sprinkler system or an appliance for heating water.
• Freezing of plumbing, heating, air conditioning systems, household appliances or sprinkler systems provided the insured maintains heat in the building or shuts off the water and drains all systems of water.
• sudden and accidental damage from artificially generated electrical current. Does not cover damage to tubes, transistors, electronic components or circuitry. NOTE: lightning would cover these items
• Collapse- an abrupt falling down or caving in of the structure or a part of the structure caused by:
  • the perils insured against;
  • hidden decay
  • hidden insect or vermin damage
  • weight of contents, equipment, animals or people;
  • weight of rain which collects on a roof; or
  • use of defective material or methods in construction or remodeling or renovation if the collapse occurs during the course of the construction or renovation.

Special Form

HO-3

Contents Broad Form

HO-4

Comprehensive Form

HO-5

This is the broadest homeowner form. It provides "open peril" coverage on both buildings and their contents.

NOTE: the HO-2, HO-3, and the HO-5 provide replacement cost coverage on the structures provided the insured carries at least 80% of the replacement cost value of the structure. Contents coverage under all of the homeowner forms provide actual cash value coverage on contents unless a separate replacement cost endorsement is purchased.

Unit-Owners Broad Form

HO-6

Definitions

Insured

Means:

• You and residents of your household who are:
  • your relatives; or
  • other persons under the age of 21 and in the care of any person named above
• A student enrolled in school full time, as defined by the school, who was a resident of your household before moving out to attend school, provided the student is under the age of:
  • 24 and your relative; or
  • 21 and in your care or the care of a person described in a. above
• Under section II (personal liability):
  • With respect to animals or watercraft to which this policy applies, any person or organization legally responsible for said animals or watercraft which are owned by you or any person included in a. or b. above. "Insured" does not mean a persno or organization using or having custody of these animals or watercraft in the course of any "business" or w/o consent of the owner; or
  • With respect to a "motor vehicle" to which this policy applies:
    • Persons while engaged in your employ or that of any person included in a. or b. above; or
    • Other persons using the vehicle on an "insured location" with your consent

Insured Location

Means:

• The "residence premises"
• The part of other premises, other structures and grounds used by the insured as a residence; and
  • which is shown in the Declarations; or
  • which is aquired by the insured during the policy period for the insured's use as a residence;
• Any premises used by teh insured in connection with the premises described in a. and b. above.
• Any pert of a premises:
  • Not owned by an "insured"; and
  • Where an "insured" is temprarily residing
• Vacant land, other than farm land, owned by or rented to an "insured";
• Land owned by or rented to an "insured" on which a one, two, three or four family dwelling is being built as a residence for an "insured".
• Individual or family cemetary plots or burial vaults of an "insured"; pr
• Any part of a premise occasionally rented to an "insured" for other than "business" use.

Under both Sections I and II, when the word "an" precedes the word "insured", the words together mean one or more insureds.

Section I- Property Coverage

Coverage A- Dwelling

Section I:

Provides four major property coverages, three of which are based on a percentage of the dwelling limit. These will also vary by the number of residential units in the dwelling structure. If these percentages provice inadequate limits, some can be increased by endorsement and the payment of an additional premium.

• Coverage A-Dwelling-- Full replacement cost as long as the insured carries 80% to value. The insured selects a limit for Coverage A. The minimum amount is subject to each individual company's underwriting rules.
• Coverage B-Other Structures-- 10% of coverage A for one or two family dwellings and 5% of Coverage A for three or four family dwellings
• Coverage C-Personal Property-- 50% of Coverage A for one or two family dwellings and 30% of Coverage A for three or 25% for four family dwellings
• Coverage D- Loss fo Use-- 30% of Coverage A on HO-2, HO-3, and HO-5; 30% of Coverage C on HO-4; 50% of Coverage C on HO-6; 10% of Coverage A on HO-8

COVERAGE A-DWELLING:

Similare to the Dewlling Property Forms, Coverage A covers:

• The dwelling described on the Declarations page of the policy;
• Structures attached to this dewlling;
• Materials and supplies located on or next to the "resident premises" used to construct, alter or repair the dwelling or other structure on the "residence premises." NOTE: this coverage does not apply to land or to the HO-4, which is designed for contents.
• Coverage A under the HO-6 Condo Unit Form covers:
  • The alterations, appliances, fixtures and improvements that are a part of the building contained within the residence premises
  • Property that is the insured's repsonsibility under a corporation or association of property owner's agreement;
  • Structures owned solely by the insured, other than the residence premises, at the location of the residence premises

Coverage B- Other Structures

Also similar to the Dwelling Property Form, Coverage B covers:

• Structures located on the insured premises that are separated from the dwelling by a clear space or connected only by a fence, utility line or similar connection (detached garages, sheds, etc.) No coverage for structures used for business or for buildings rented to non-tenants unlessn used as a private garage.
• Coverage B, a percentage of Coverage A, depending on the number of dwelling units and is an additional amount of insurance
• Under HO-6, owned garages or storage buildings are covered for a stated amount, if coverage is needed.
• Under HO-8, Coverage B cannot be increased by endorsement

Coverage C- Personal Property

There is broader coverage for personal property under the Homeowners Program than under teh Dwelling Property Program as shown below:

• Full limit of Coverage C applies to personal property anywhere in the world. Covers personal property owned or used by the insured. Example: if the insured borrows a neighbor's lawnmower and it is destroyed by fire while being used by the insured, coverage would apply under the personal property coverage for the named insured.
• Under the HO-2, HO-3, HO-5, and HO-8, a percentage of Coverage A applies to Coverage C depending on the number of units as an additional amount of insurance. Under the HO-4 and HO-6 the insured establishes an amount of coverage based on the actual contents.
• If the named insured requests, the following personal property can be covered under the insured's Coverage C amount:
  • Personal Property of others while it is located at the insured's premises
  • Personal Property of a guest or residence employee at a residence occupied by the insured.
• For personal property kept at an insured's residence other than the residence premises shown on the Declarations page, coverage is the larger of $1000 or 10% of Coverage C.
• When the insured moves to a newly purchased primary residence, contents is pro rata between the locations for 30 days in case of a loss.
• The following personal property is excluded under Coverage C:
  • Animals, birds, and fish
  • Automobiles and other motorized vehicles (except those pertaing to teh service of the premises or for use of the handicapped, such as a wheelchair)
  • Electronic apparatus (including accessories, antennas or tapes, wires, records, discs or other media for use with any electronic apparatus) designed to be used with a motorized vehicle's electronic system and in or upon the vehicle. NOTE: $1000 coverage is provided when such items are not in or upon a vehicle.
  • Aircraft and parts (hobby aircraft is covered)
  • Property of roomers/boarders not related to the insured
  • Property located in an apartment regularly rented by an insured other than the insured premises.
  • Property rented or held for rental to others off the "residence premises"
  • Business data, including the data stored in:
    • Books of account, drawings or other paper records;
    • Electronic data processing tapes, wires, records, discs or other software media. The cost of blank recordingn or storage media and of prerecorded computer programs available on the retail market is covered
  • Credit cards or fund transfer cards EXCEPT as provided in "additional coverages"
  • Property scheduled elsewhere. NOTE: if a piece of jewelry is separately insured under a personal articles floater, coverage is completely taken out of the homeowner policy
  • Loss of water or steam

Coverage C provides "Special Limits of Liability" on some property listed below. NOTE that some property is only limited for loss caused by the peril of theft. If those items are destroyed by another peril coved under the policy, they would be covered for their full value.

• $200- money, bank notes, bullion, gold and silver, etc.
• $1,500- securities, accounts, deeds, evidences of debts, letters of credit
• $1,500- watercraft, including their trailers, furnishings and equipment
• $1,500- trailers and semi-trailers not used with watercraft
• $1,500- theft of jewelry, watches, furs, precious/semi-precious stones
• $2,500- theft of firearms
• $2,500- theft of pewterware, goldware, and silverware
• $2,500- property, on the residence premises used at any time or in any manner for any business purpose
• $500- property, away from the residence premises, used for business purposes
• $1,500 on electronic apparatus and accessories, while in or upon a "motor vehicle" but only if the apparatus is equipped to be operated by power from the "motor vehicle's" electrical system while still capable of being operated by other power sources
• $1,500 on electronic apparatus and accessories used primarily for "business" while away from the "residence premises" and not in or upon a "motor vehicle". The apparatus must be equipped to be operated by power from the "motor vehicle's" electrical system while still capable of being operated by other power sources

Pre-2000 Forms:

Pre-2000 versions of HO forms had lower amounts of coverage for some of these types of personal property.

Coverage D- Loss of Use

Section II- Liability Coverages

Section II includes Coverage E-Personal Liability, which pays on behalf of the insured all sumes he/she is legally obligaged to pay others because of BI and PD to others, caused by an "occurrence." The minimum limit is $100,000 per occurrence.

Coverage E will also pay legal defense expenses for the insured, even if the claims against the insured is groundless, false or fraudulent. These expenses are w/o limitation and not out of the insured's Coverage E limit of liability. The insurer may investigate and settle any claim or suit as it deems necessary, but the insurer's duty to defend ends when the limit of liability has been exhausted

Liability- 3rd party coverage that takes care of medical bills, PD, lost wages and pain and suffering, inconvenience, etc. that is incurred by a 3rd party in an "occurrence: and caused by or is allegedly the fault of an insured and members of the insured's household.

Occurrence- an accident, including repeated or continuous exposure to similar harmful conditions

Bodily Injury- includes hodily harm, sickness, disease and death

Property damage- means physical damage to tangible property including loss of use.

Coverage E- Personal Liability

Covers insured for claims of others due to bodily injury or property damage caused by an occurrence arising from:

• The premises shown in the Declarations section of the policy as well as any location hte insured occasionally rents. For example, a community building that the insured rented to hold a party.
• Personal activities such as sports, social, etc. anywhere in the world
• Acts of residence employees acting within the scope of their duties;
• Vacant land
• Individual or family cemetery plots or burial vaults of any insured.

Covers both "on premises" and "off premises" activities

Coverage F- Medical Payments to Others

Is "good will" coverage that pays the medical bills incurred by others in an accident, regardless of the fault or liability of the insured. The minimum limit is $1,000. Coverage F will pay for the following as long as they are claimed within 3 years of the date of loss of the accident, and the loss occurs to a guest, or other individuals(not any insured), or residence employees:

• Medical and Surgical care
• X-rays
• Dental Services
• Ambulance, hospital and professional services
• Funeral Services

Additional Coverages

1. Claims Expenses- includes the following:

• Cost of investigating a claim
• Premiums for bonds required in a suit teh company defends
• Reasonable expenses incurred by teh insured at teh company's request, including loss of earnings, subject to a predetermined limit of $250 per day.
• Interest on judgement that accrues after the judgement

2. First Aid- the company will pay for first aid expenses incurred by an insured for first aid to others

3. Damage To Property of others- the insurer will pay up to $1000 for accidental damage to property of others caused by the insured, excluding:

• Property Recoverable under Section I of the Homeowners Policy;
• Caused intentionally by an insured who is 13 years or older;
• Property owned by the insured;
• Property owned by a tenant of the insured or a resident in the insured's household;
• Business Property unless otherwise provided for;
• The ownership, maintenance or use of aircraft, watercraft or other motor vehicles (doesnt pertain to golf carts on course or off road vehicles not subject to registration.)

Pre-2000 Forms:

Pre-2000 Homeowners policies provide only $500 for damage to property of others

4. Loss Assessment- like section I, Section II provides $1000 per occurrence for the insured's assessment as a member of a group of property owners when assessed because:

• bodily injuery or property damage not excluded under Section II;
• liability for an act of a director, officer or trustee in the capacity as a director, officer or trustee if:
  • They are elected by the members of a corporation or association of property owners
  • They serve w/o deriving any income from the exercise of duties which are solely on behalf of a corporation or association of property owners.

There is no coverage for loss assessments charged by any governemtal body.

Perils Insured Against

HO-2

• Fire
• Lightning
• Windstorm or Hail
• Explosion
• Riot or Civil Commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and Malicious Mischief
• Theft
• Volcanic Eruption
• Falling Objects
• Weight of Ice, Snow or Sleet
• Discharge of Water or Steam
• Sudden, Accidental Rupture
• Freezing of Plumbing and Related Systems
• Artificially Generated Electrical Current

HO-3

Dwelling

Open Peril

Personal Property

• Fire
• Lightning
• Windstorm or Hail
• Explosion
• Riot or Civil Commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and Malicious Mischief
• Theft
• Volcanic Eruption
• Falling Objects
• Weight of Ice, Snow or Sleet
• Discharge of Water or Steam
• Sudden, Accidental Rupture
• Freezing of Plumbing and Related Systems
• Artificially Generated Electrical Current

HO-4

• Fire
• Lightning
• Windstorm or Hail
• Explosion
• Riot or Civil Commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and Malicious Mischief
• Theft
• Volcanic Eruption
• Falling Objects
• Weight of Ice, Snow or Sleet
• Discharge of Water or Steam
• Sudden, Accidental Rupture
• Freezing of Plumbing and Related Systems
• Artificially Generated Electrical Current

HO-5

Dwelling

Open Peril

Personal Property

Open Peril

HO-6

• Fire
• Lightning
• Windstorm or Hail
• Explosion
• Riot or Civil Commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and Malicious Mischief
• Theft
• Volcanic Eruption
• Falling Objects
• Weight of Ice, Snow or Sleet
• Discharge of Water or Steam
• Sudden, Accidental Rupture
• Freezing of Plumbing and Related Systems
• Artificially Generated Electrical Current

Section I

Additional Coverages

• Debris removal- removal of damaged property from loss site
• Reasonable repairs-provides coverage within limits to pay for a temp. repair until a permanent repair can be made.
• Trees, Shrubs, other-covered for limited perils incld. fire and lightning, explosion, riot/civil commotion, aircraft, vehicles not owned by residents, vandalism/malicious mischief, theft. Covered up to 5% of dwelling limit and subject to max limit of $500. for any one tree, shrub or plant. this is additional insurance and is in addition to the limits of the policy.
• Fire Dept. service charge is $500. this is additional insurance and the deductible does not apply
• Property Removed- when inds. removes property from premises when endangered by a peril insured against, coverage applies to any direct loss from any cause for no more than 30 days while removed.
• credit card, electronic fund transfer card or access device, forgery and counterfeit money(US & Can.) for a limit of $500.
• Loss assessment- pays up to $1000 when the insured is assessed by a corportation or property owner's assoc. for damage to property owned collectively if damaged by a peril insuread against under the insured's policy
• Glass or safety glazing material- covers loss of doors and windows of dwelling as a result of breakage of glass or safety glazing material
• Collapse- like the "glass breakage" peril, "collapse" is not shown as a peril but is listed as an "Other Coverage" in the policy. Collapse covers physicalloss to covered property involving abrupt falling down or caving in of a building or any part of it caused by:
  • Perils insured against
  • Hidden decay
  • Hidden vermin or insect damage
  • Weight of contents (equip, animals, people)
  • Weight of rain collected on roof.
  • Use of defective materials/methods when the collaspe occurs during construction or remodeling
• Collapse does not include:
  • settling
  • Cracking
  • shrinking
  • bulging
  • expansion of a building
• Following excluded under collapse coverage:
  • Awning and fences
  • Patios and swimming pools
  • Underground pipes, flues, drains, cesspools and septic tanks
  • foundations, retaining walls and docks
• Landlord's furnishings- provides up to $2500 for landlords furnishings. Additional coverage, and does not cover theft
• Building additions and alterations- covered under HO-4 and HO-6 only
• Ordanince or Law- Provides up to 10% of Coverage A, dwelling for increased costs the insured incurs due to the enforcement of any ordinance or law which requires or regulates the construction, demolition, remodeling or repair of the covered building damaged by a peril insured against.

Exclusions

Applynig to both Coverage E and F

Section I:

• War
• Nuclear Hazard
• Earth Movement
• Neglect
• Ordinance or law
• Flood
• Off-premises power shortages
• Intentional Acts

Section II:

Apply to both Coverage E and Coverage F:

1. Losses that are expected or intended
2. Business pursuits of an insured
3. Losses for the insured's failure to render professional services
4. Ownership, maintenance, use, loading or unloading of motor vehichles. Liability coverage is provided, however, for following:
   1. A trailer not towed by or carried on a motorized land conveyance
   2. A motorized land conveyance designed for recreational use off public roads, not subject to registration which is:
      1. Not owned by an insured
      2. owned by an insured and no an insured location
      3. A motorized golf cart when used to play on a golf course
      4. A vehicle or conveyance not subject to registration
   3. Used to dervice an insured's residence
   4. Designed forassisting the handicapped
   5. In dead storage on an insured location
5. The ownership, maintenance, use, loading or unloading of watercrafts listed below:
   1. With inboard or inboard-outdrive motor power owned by an insured
   2. With inboard or inboard-outdrive motor power of more than 50hp rented to an insured
   3. sailing vessel, with or without auxiliary power, 26 feet or more in length owned by or rented by an insured
   4. Powered by one or more outboard motors with more than 25hp if the outboard motor is owned by the insured. Therefore an outboard motor of 25hp or less is covered. Outboard motors of 25hp or more are coverd for the policy period if:
      1. The insured acquires them prior to the policy period and declares them at policy inception or reports to the insurer, in writing, within 45 days after insured acquires the outboard motors
      2. The insured acquires them during the policy period (does not apply while watercraft is stored)
6. Ownership, Maintanance, use, loading or unloading of an aircraft (doesn't include model or hobby aircraft not designed to carry people or cargo)
7. War including accidental discharge of nuclear weapons
8. Transmission of a communicable disease by an insured
9. Sexual molestation, corporal punishment or physical or mental abuse
10. The use, sale, manufacture, delivery, transfer or possession by any person of a controlled substance

Exclusions

Coverage E

Apply only to Coverage E:

• Property damage to property rented to, occupied by, used by or in the care, custody or control of an insured except folllowing which is covered:
  • Fire
  • Smoke
  • Explosion
• BI to people covered by workers' compensation or disability insurance
• BI or property damage to an insured
• Contractual liability except:
  • That which relates to ownership, maintenance or use of an insured location;
  • Where the liability of other has been assumed by the insured prior to an occurrence

Exclusions

Coverage F

Apply only to Coverage F:

• To a residence employee not sustained in the course of employment or occurring off-premises
• To any person eligible to receive workers compensation or disability coverage
• From any nuclear reaction
• To anyone regularly residing on the insured premises

Conditions

Following apply to Section I and II:

• No coverage for insureds that intentionally conceal opr misrepresent any material fact
• Waiver or charge to the policy must be in writing. Usually done by use of an endorsement
• Cancellation
  • Insured may cancel at any time for any reason
  • Insurance Company may cancel for reasons listed in the Law Supplement text
• Non-renewal is when the insurer cancels on teh anniversary of the policy by giving 30 days notice. Nonrenewal is also subject to state laws. See law supplement
• When the insured cancels the policy, the unearned premium is returned on pro-rata basis
• If an insured dies during the policy period, the legal representatives of the deceased will be proteceted by the Homeowners Policy
• Assignment- a policyholder cannot give his policy to another person w/o written permission from the insurance company
• Liberalization- if insurer makes change which broadens coverage under current policy w/o additional prem. charge, change will auto. apply to insurance as of date the insurer implements the change. provided this date falls within 60 days prior to or during the policy period stated in the Declarations of the policy.
• Subrogation- insured may waive in writing before a loss all rights of recovery against any person. If not waived, the insurer may require an assignment of rights of recovery for a loss to the extent that payment is made by the insurer.

Section II- Conditions

• Limit of liability- the company's limit of liability. Coverage E, for all damages resulting from any one "occurrence" will not be more than the Coverage E limit.
• Severability of Insurance- insurance applies separately to each "insured". This condition will not increase our limit of liability for any one "occurrence". The liability limit applies per insured but the max that can be paid on behalf of all insured for one covered claim cannot exceed covereage E liability limit
• Duties after an "occurrence"- spells out the duties of the insured if tehre is a claim. Reporting of the claim in a timely fashion, cooperate with the insurer are some examples
• Duties of an insured person- Coverage F- the injured person or someone acting for them will:
  • Give company written proof of claim
  • Authorize the company to obtain copies of medical records
  • The injured person will submit to a physical exam
• Payment of Claim- Coverage F- payment of claim is not admission of liability by an insured or the insurer.
• Suit against the insurer:
  • No action can be brough against the insurer unless there has been ful compliance with all of the terms under Section II
  • No one will have the right to jjoin the insured as a party to any action against an "insured"
  • Also, no action with respect to Coverage E can be brought against the insurer until the obligation of such "insured" has been determined by final judgment or agreement signed by the insurer.
• Bankruptcy of an "Insured"- will not relieve the insured of their obligation under the policy
• Other insurance- this insurance is excess over other valid and collectible insurance except insurance written specifically to cover s excess over the limits of liability that apply in this policy
• Policy period- policy applies only to BI or PD which occurs during the policy period
• Concealment or fraud- insurer does not proved coverage to an "insured" who, whether before or after a loss, has:
  • Intentionally Concealed or misrepresented any material fact or circumstance
  • Engaged in fraudulent conduct, or
  • Made false statements relating to this insurance

Selected Endorsements

Special Provisions- NH

NH endorsement modifies the Homeowners forms:

Coverage C-- Personal Property:

• No special limit of liability applies to theft losses of silverware and gold-ware
• Covers loss to equipment and accessories used with motor vehicles

Coverage D-- Loss of Use:

• Eliminates fair rental value coverage

Coverage E:

• Prejudgment interest is not included in teh policy limit; it is paid as an additional coverage
• Covers BI to an insured

Conditions:

• Incorporates NH's valued policy law provision
• Adds coverage for undisputed incidental costs directly related to a loss that are incurred by the insured. Claims for such costs will be paid within 15 days after teh insurer receives proof of loss.
• Incorporates NH statuatory requirements for cancellation and nonrenewal

Limited Fungi, Wet or dry rot, or bacteria Coverage

Permitted Incidental Occupancies

Earthquake

Scheduled Personal Property

Broader coverage of personal property provided with this endorsement. Provides scheduled coverage for such things as jewelry, furs, cameras, musical instruments, silverware, golfer's equipment, fine arts, stamps, coins, etc. All articles must be described and amt. of insurance be shown on the form.

All property covered on a risk basis, subject to limitations and exclusions.

The policy does not insure loss, from any cause, to property on exhibition at fair grounds or premises of national or international expositions unless the premises are covered by this policy.

Scheduled personal property is not subject to the policy deductible. Depending on type, recovery may be on the basis of ACV, market value, repair or replacement cost, or agreed value.

Also addresses newly acquired property:

For jewelry, furs, cameras, and instruments only following applies:

• 25% of amt. of insurance for that class of property; or $10,000
• when new property is acquired, you must report these objects to teh company within 30 days and pay an additional premium.

For Fine arts:

• policy will not pay for more than 25% of amt. of insurance for fine arts scheduled; and
• These objects must be reported to the company within 90 days and pay an additional premium.

Personal Property Replacement Cost

Home Day Care

Business Pursuits

Watercraft

Personal Injury