06.03. HO Section I - Property Coverages

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  1. Coverage A - Dwelling
    • includes 1 to 4-family dwelling where the named insured resides in at least one of the units
    • coverage does not apply to land
  2. Coverage B - Other Structures
    • applies to structures on the residence that are not attached and separated by clear space
    • automatic limit of 10% of Coverage A
    • 3 important exclusions: (1) rented to non-resident (except private garage), (2) from which business is conducted, (3) used to stored business property (except if solely owned by resident if it's not gas or liquid fuel)
  3. Coverage C - Personal Property
    • applies to items that the insured owns or uses, regardless of location
    • also applies to items owned by others while on property
    • standard limit is 50% of Coverage A
    • no endorsement is needed to increase limit
    • max of 10% of Coverage C limit or $1,000 is applicable to property located at another location
    • restriction doesn't apply to moving - instead get 30 days coverage at both locations
  4. Coverage C - Special Sublimits
    • all perils: money, gift cards ($200), securities, stamps ($1,500), watercraft ($1,500), trailers ($1,500)
    • business: on residence ($2,500), away ($1,500)
    • theft only: jewelry and fur ($1,500), firearms ($2,500), silverware ($2,500)
  5. HO - Property not covered
    • insured elsewhere
    • animals
    • motor vehicles that are registered (unlike wheelchair or lawnmower)
    • aircraft / hovercraft
    • unrelated roomers and boarders
    • property of renters / rented or held for rental
    • business data and drawings
    • credit cards
    • water or steam (like in swimming pool)
  6. Coverage D - Loss of Use
    • only applies if loss is covered under Section I
    • automatic limit of 30%
    • no endorsement required to increase limit
    • additional living expense: maintain normal standard of living
    • fair rental value: if part of residence is rented
    • loss of use due to civil authority: maximum of 2 weeks
  7. HO Section I Additional Coverages
    • debris removal: addl 5%
    • reasonable repairs: no limit increase
    • trees, shrubs, plants: $500 by plant up to 5% of Coverage A, independent of covered loss
    • fire dpt service charge: $500, conditional on threat of peril, no deductible
    • property removed: no addl limit, threat of peril
    • credit card: addl $500 + defense cost
    • loss assessment: addl $1,000
    • collapse
    • glass or safety glazing material
    • landlord's furnishings
    • ordinance or law: addl 10%, covered loss must have occured
    • grave markers: no addl limit
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06.03. HO Section I - Property Coverages
2013-04-06 19:17:41
HO Section Property Coverages

HO Section I - Property Coverages
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