BROADENED PROPERTY COVERAGE EXTENSION

Transcription

1 COMMERCIAL PROPERTY THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. BROADENED PROPERTY COVERAGE EXTENSION This endorsement modifies insurance provided under the following: COMMERCIAL PROPERTY COVERAGE PART BUILDING AND PERSONAL PROPERTY COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART CONDOMINIUM ASSOCIATION COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART BUSINESS INCOME (AND EXTRA EXPENSE) COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART BUSINESS INCOME (WITHOUT EXTRA EXPENSE) COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART EXTRA EXPENSE COVERAGE FORM COMMERCIAL PROPERTY COVERAGE PART CAUSES OF LOSS SPECIAL FORM The provisions of the Building And Personal Property Coverage Form, Condominium Association Coverage Form, Condominium Commercial Unit-Owners Coverage Form, Business Income (And Extra Expense) Coverage Form, Business Income (Without Extra Expense) Coverage Form, Extra Expense Coverage Form and Causes Of Loss Special Form apply except as otherwise provided in this endorsement. All numbers and letters used to designate paragraphs in this endorsement are specific to this endorsement only. They do not reference paragraphs in the Commercial Property Coverage Parts. If any of the property covered by this endorsement is also covered under any other provisions of either the policy of which this endorsement is made a part or any other policy issued by us, in the event of loss or damage you may elect to make claim (1) under such other provisions in which case none of the provisions of this endorsement are applicable, or (2) under the provisions of this endorsement in which case coverage provided by this endorsement becomes the sole coverage on such policy. I. Changes To Building And Personal Property Coverage Form, Condominium Association Coverage Form, Condominium Commercial Unit-Owners Coverage Form A. The Fire Department Service Charge limit under Additional Coverages in the Coverage section is increased to $5,000. B. The Newly Acquired Or Constructed Property-Buildings limit under Coverage increased to $500,000. C. The Newly Acquired Or Constructed Property-Your Business Personal Property limit under Coverage Extensions in the Coverage section is increased to $250,000. D. The Newly Acquired Or Constructed Property Period Of Coverage under Coverage Extensions in the Coverage section is increased to 90 days. E. Personal Effects And Property Of Others under Coverage Extensions in the Coverage section is deleted and replaced by the following: 1. Personal Effects And Property Of Others You may extend the insurance that applies to Your Business Personal Property to apply to: a. Personal effects owned by you, your officers, your partners or members, your managers or your employees. The most we will pay for loss or damage by a Covered Cause Of Loss under this Extension is $10,000 at each described This Extension does not apply to loss or damage by theft. b. Personal property of others in your care, custody or control. The most we will pay for loss or damage by a Covered Cause Of Loss under this Extension is $10,000 at each described Our payment for loss of or damage to personal property of others will only be for the account of the owner of the property. F. The Valuable Papers And Records (Other Than Electronic Data) limit under Coverage increased to $25,000. G. The Property Off-premises limit under Coverage Extensions in the Coverage section is increased to $25,000. H. Outdoor Property under Coverage replaced by the following: You may extend the insurance provided by this Coverage Form to apply to your outdoor fences, radio and television antennas (including satellite dishes), trees, shrubs and plants (other than stock of trees, shrubs or plants), including debris removal expense, caused by or resulting from any of the following causes of loss if they are Covered Causes of Loss: 1. Fire; 2. Lightning; 3. Explosion; CP7159(5-08) Includes copyrighted material of ISO Properties, Inc. with its permission. Page 1 of 5

2 4. Riot or Civil Commotion; 5. Aircraft or Vehicles; 6. Windstorm or Hail; 7. Smoke; or 8. Vandalism The most we will pay for loss or damage under this Extension is $10,000, but not more than $250 for any one tree, shrub or plant. These limits apply to any one occurrence, regardless of the types or number of items lost or damaged in that occurrence. I. The following coverages are added to Coverage Extensions in the Coverage section: 1. Money and Securities a. We will pay for loss of money and securities used in your business while at a bank or savings institution, while at the described premises, or in transit between these places, or in the custody of a person you have authorized to have custody of the money or securities, resulting directly from: (1) Theft, meaning any act of stealing; (2) Disappearance; or (3) Destruction. b. In addition to the Limitations and Exclusions, we will not pay for loss: (1) Resulting from accounting or arithmetical errors or omissions; (2) Due to the giving or surrendering of property in any exchange or purchase; or (3) Of property contained in any money operated device unless the amount of money deposited in it is recorded by a continuous recording instrument in the device. c. All loss: (1) Caused by one or more persons; or (2) Involving a single act or series of related acts; is considered one occurrence. d. You must keep records of all money and securities so we can verify the amount of any loss or damage. e. In the event of loss or damage we will determine the value as follows: (1) Money at its face value; and (2) Securities at their value at the close of business on the day the loss is discovered. f. Money means (1) Currency, coins and bank notes in current use and having a face value; and (2) Travelers checks, register checks and money orders held for sale to the public. g. Securities means negotiable and nonnegotiable instruments or contracts representing either money or other property and includes: (1) Tokens, tickets, revenue and other stamps (whether represented by actual stamps or unused value in a meter) in current use; and (2) Evidences of debt issued in connection with credit or charge cards, which cards are not issued by you; but does not include money. h. The most we will pay under this extension for loss in any one occurrence is $5, Accounts Receivable You may extend the insurance that applies to Covered Property to cover the following loss and expenses which are the direct result of loss or damage by a Covered Cause of Loss to accounts receivable records: a. All sums due you from customers, provided you are unable to effect collection. b. Collection expenses in excess of normal collection costs made necessary because of loss or damage; or c. Other reasonable expenses incurred by you in re-establishing records of accounts receivable following such loss or damage. is $25,000 at each described 3. Extra Expense We will pay necessary Extra Expense (other than the expense to repair or replace property) you incur during the period of restoration, that you would not have incurred if there had been no direct physical loss or damage from a Covered Cause of Loss to property at the described premises, including personal property in the open (or in a vehicle) within 1,000 feet, caused by or resulting from a Covered Cause of Loss. Extra Expense means expense incurred: a. To avoid or minimize the suspension of business and to continue operations at the described premises or at replacement premises or temporary locations, including relocation expenses and costs to equip and operate the replacement location or temporary location. CP7159(5-08) Includes copyrighted material of ISO Properties, Inc. with its permission. Page 2 of 5

3 b. To minimize the suspension of business if you cannot continue operations. We will also pay Extra Expense to repair or replace property, but only to the extent it reduces the amount of loss that otherwise would have been payable under this Extension. We will not pay for: (1) Any Extra Expense caused by or resulting from: (a) Delay in rebuilding, repairing or replacing the property or resuming operations, due to interference at the location of the rebuilding, repair or replacement by strikers or other persons; or (b) Suspension, lapse or cancellation of any license, lease or contract; or (c) Action taken to avoid or minimize a suspension of operations caused by destruction or corruption of electronic data, or any loss or damage to electronic data. Electronic data has the meaning described under Property Not Covered Electronic Data. (2) Any other consequential loss. Period of restoration means the period of time that: (1) Begins with the date of direct physical loss or damage caused by or resulting from any Covered Cause of Loss at the described premises; and (2) Ends on the date when the property at the described premises should be repaired, rebuilt or replaced with reasonable speed and similar quality. Period of restoration does not include any increased period required due to the enforcement of any ordinance or law that: (1) Regulates the construction, use or repair, or requires the tearing down of any property; or (2) Requires any insured or others to test for, monitor, clean up, remove, contain, treat, detoxify or neutralize, or in any way respond to, or assess the effects of pollutants. The expiration date of this policy will not cut short the period of restoration. Operations means your business activities occurring at the described The most we will pay for loss under this Extension is $25,000 for each described 4. Arson Rewards You may extend the insurance provided by this Coverage Form to apply to rewards given to any person or persons, other than you, your officers, your employees or your active members, for information leading to an arson conviction in connection with a fire loss to the described is $5,000 per fire loss. This is the most we will pay regardless of the number of persons who provided information. 5. Water Damage You may apply up to $2,500 for each described premises to cover loss or damage caused directly or indirectly by water that backs up from a sewer or drain. Such loss or damage is excluded, however, if any other cause or event which is not a Covered Cause of Loss contributes concurrently or in a sequence. The most we will pay in any one policy period is $15, Fire Extinguishing System Recharge We will pay the cost to recharge your approved, industry standard fire extinguishing system if it discharges to fight a fire. We will also cover the cost to recharge the system if it accidentally discharges. But we will not pay for any loss that occurs at the time of installation, repair or recharge of the system. 7. Fine Arts We will pay for direct physical loss or damage caused by a Covered Cause of Loss to your fine arts or fine arts of others in your care, custody or control. For the purpose of this Extension, fine arts means paintings, etchings, pictures, tapestries, statuary, marbles, bronzes, porcelains and other bona fide works of art of rarity, historical value or artistic merit. This Extension is subject to the following: a. Fine arts does not include stained glass which is a part of the described premises; b. The value of fine arts will be determined at market value at the time of loss or damage; c. The most we will pay under this Extension is $10,000 at each described In case of loss or damage to a pair or set, we will pay you the full value of the pair or set and you agree to surrender the remaining article(s) of the pair or set to us. CP7159(5-08) Includes copyrighted material of ISO Properties, Inc. with its permission. Page 3 of 5

4 8. Spoilage Coverage The most we will pay under this coverage extension is $2,500. a. This policy is extended to cover perishable stock at the described premises owned by you or by others that is in your care, custody or control. Perishable stock is defined as personal property that is: (1) maintained under controlled conditions for its preservation; and (2) susceptible to loss or damage if the controlled conditions change. b. For the purpose of this Extension only, the Covered Cause of Loss is defined as: (1) Breakdown or Contamination, meaning: (a) Change in temperature or humidity resulting from mechanical breakdown or failure of refrigerating, cooling or humidity control apparatus or equipment, only while such equipment or apparatus is at the described premises; and (b) Contamination by the refrigerant. (2) Power Outage, meaning change in temperature or humidity resulting from complete or partial interruption or surge of electrical power, either on or off the described premises, due to conditions beyond your control. c. For the purpose of this Extension only, the following Exclusions are added: We will not pay for loss or damage caused by or resulting from: (1) The disconnection of any refrigerating, cooling or humidity control system from the source of power. (2) The inability of an Electrical Utility Company or other power source to provide sufficient power due to: (a) lack of fuel; or (b) governmental order. (3) The inability of a power source at the described premises to provide sufficient power due to lack of generating capacity to meet demand. (4) Breaking of any glass that is a permanent part of any refrigerating, cooling or humidity control unit. 9. Cost of Taking Inventory If a Covered Cause of Loss occurs to Covered Property, we will reimburse you for your expense to take inventories, obtain appraisals, and prepare a statement of loss and supporting documents to prove the amount of the loss. We will not pay for expenses or fees you incur from public insurance adjusters or for expenses related to claims not covered by this policy. is $2, Utility Services Direct Damage a. Coverage We will pay for loss of or damage to Covered Property caused by an interruption in utility service to the described The interruption in utility service must result from direct physical loss or damage by a Covered Cause of Loss to the property described in Paragraph c. b. Exception This Coverage Extension for loss or damage to Covered Property does not apply to loss or damage to electronic data, including destruction or corruption of electronic data. The term electronic data has the meaning described under Property Not Covered Electronic Data. c. Utility Services (1) Water Supply Services, meaning the following types of property supplying water to the described premises: (a) Pumping stations; and (b) Water mains. (2) Communication Supply Services, meaning property supplying communication services, including telephone, radio, microwave or television services to the described premises, such as: (a) Communication transmission lines, including optic fiber transmission lines; (b) Coaxial cables; (c) Microwave radio relays except satellites. Communication Supply Services does not include overhead transmission lines. CP7159(5-08) Includes copyrighted material of ISO Properties, Inc. with its permission. Page 4 of 5

5 (3) Power Supply Services, meaning the following types of property supplying electricity, steam or gas to the described (a) Utility generating plants; (b) Switching stations; (c) Substations; (d) Transformers; and (e) Transmission lines. Power Supply Services does not include overhead transmission lines. d. The most we will pay for loss or damage under this Coverage Extension is $25,000 in any one occurrence. This Coverage Extension, Utility Services Direct Damage, does not increase the applicable Limit of Insurance. J. The limit applicable to outdoor signs, whether or not the sign is attached to a building, under Limits Of Insurance is increased to $10,000. II. Changes To The Causes Of Loss Special Form A. The Property In Transit limit under Additional Coverage Extensions is increased to $25,000. III. Changes To Business Income (And Extra Expense) Coverage Form, Business Income (Without Extra Expense) Coverage Form, Extra Expense Coverage Form. A. The Newly Acquired Locations limit under Coverage Extension in the Coverage section is increased to $250,000. B. The number of days for Newly Acquired Locations under Coverage Extension in the Coverage section is increased to 90. IV. Changes To Building And Personal Property Coverage Form, Condominium Association Coverage Form, Condominium Commercial Unit-Owners Coverage Form, Business Income (And Extra Expense) Coverage Form, Business Income (Without Extra Expense) Coverage Form, Extra Expense Coverage Form. A. Throughout the forms modified by this endorsement the words within 100 feet are replaced with within 1,000 feet. CP7159(5-08) Includes copyrighted material of ISO Properties, Inc. with its permission. Page 5 of 5