FIRE AND EXTENDED COVERAGE POLICY

("Open Perils" form DP 00 03)

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 in Coverage: 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
 
Information contained in this proposal is intended to provide you with a brief overview of the coverages provided for reference purposes only. It is not intended to provide you with all policy exclusions, limitations and conditions. The precise coverage afforded is subject to the terms, conditions, and exclusions of the policies issued.