PRINCIPAL COVERAGES:

Fire  Smoke  Lightning  Vandalism  Windstorm  Building glass breakage  Hail  Falling Objects  Explosion  Collapse  Vehicle or Aircraft damage Freezing/Bursting of plumbing/ heating system Any other risk of physical damage to building not specifically excluded  Replacement cost coverage on building

 

PRINCIPAL EXCLUSIONS:

Theft, flood, earthquake, wear and tear, deterioration, insect or animal damage, pollution, oil leaks

LIABILITY COVERAGE

Legal liability for bodily injury to others hurt on the premises

Legal liability for damage to property of others
 

RENTAL VALUE COVERAGE

Reimbursement for lost rents caused by a covered peril

AMOUNTS OF COVERAGE:

Building:	should be replacement cost of building
Contents:	depreciated value of owner's personal property
Liability:	usually $300,000 - can be increased
Rental Value:	automatically 10% of building value; can be increased
Automatic Increase:	usually 2-4% per year

DEDUCTIBLE CLAUSE:

Pays only for losses in excess of deductible selected. Many companies have a $500 minimum deductible and a 2% (or more) wind deductible
 

This simplified summary does not represent contract terms. The policy is the contract.