OPTIONAL FORMS AND COVERAGES AVAILABLE BY ENDORSEMENTTYPES OF FIRE COVERAGE AVAILABLE
Homeowners Insurance ProgramPolicy Forms
ML – 41.......................Additional Insured-Residence PremisesDP – 1   Building and Contents    Actual Cash Value
HO3542.......................Office; Professional, Private School, or Studio Occupancy – Described location
ML – 48.......................Related Private Structures – Increased LimitsForm 2   Building  Replacement and Repair Cost
HO2584.......................Automatic Adjustment of Limits (2%, 4%, or 6% available)Form 3   Building   Replacement Cost
HO1509.........................Repair Cost Loss Settlement TermsForm 6   Building   Replacement Cost
MBHOW25.................Water Damage $2,500
MBHOW50.................Water Damage $5,000Form 2   Contents   Actual Cash Value
 Form 3   Contents   Actual Cash Value
Dwelling Insurance ProgramForm 6   Contents   Actual Cash Value
DP – 7041........................Additional Interests – Described Location
DP1143........................Dwelling Under ConstructionForm 4   Contents Only   Actual Cash Value
  
Commercial Insurance Program
CP – 0132......................Loss Payable Options
  
FIRE LOSS SETTLEMENT DEFINITIONS
ACTUAL CASH VALUE - Provides for settlement of losses based on the condition or value of the damaged or destroyed property at the time of loss. The Aamount will be determined by a review of relevant factors such as but not limited to market value, assessed value, capitalized value, and depreciation caused by physical wear and tera and/or obsolescense.
REPLACEMENT COST - Provides for settlement of losses with materials of like kind and quality without deduction for depreciation if repairs are completed.
REPAIR COST - Provides for settlement of losses with materials of like kind and quality without deduction for depreciation or, with conventional material and construction methods which are currently available without extra ordinary expense.
COMPARISON OF RESIDENTIAL COVERAGES
***NOTE: POLICY COVERAGES CONTAINED IN THIS BROCHURE HAVE BEEN CONDENSED; FOR ACTUAL COVERAGE CONSULT YOUR POLICY
FIREHOMEOWNERS
DP-1*Form-2Form-3Form-4Form-6**
1Fire, lightning, windstorm, hail, riot, civil commotion, aircraft.YesYesYesYesYes
2Explosion, other than steam boiler.YesYesYesYesYes
3Explosion,of steam boiler.NoYesYesYesYes
4Bursting of steam of hot water appliances and heating system.NoYesYesYesYes
5Damage by vehicles
a) BuildingYesYesYesNoYes
b) Fences, driveways or walksYes (except by vehicle owned/operated by you or an occupant)Yes (except by vehicle owned/operated by you or an occupant)YesNoYes (except by vehicle owned/operated by you or an occupant)
c) Trees, shrubs, plants, lawnsYes (except by vehicle owned/operated by you or an occupant)Yes (except by vehicle owned/operated by you or an occupant)YesYes (except by vehicle owned/operated by you or an occupant)Yes (except by vehicle owned/operated by you or an occupant)
6Smoke
(a) Heating or cooking unitYesYesYesYesYes
(b) Commercial OperationsNoNoNoNoNo
7Vandalism/Malicious MischiefYes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)
8Water
(a) Flood, surface waterNoNoNoNoNo
(b) Back-up sewers or drainsNoNoNoNoNo
(c) Leaking from plumbing, heating or air conditioning systemNoYes (with exceptions)Yes (with exceptions)Yes (with exceptions)Yes (with exceptions)
(d) Rain through faulty roof, windows or doorsNoNoNoNoNo
(e) Freezing of plumbing and heating systemsNoYes (if heat is maintained and the system is drained)Yes (if heat is maintained and the system is drained)Yes (if heat is maintained and the system is drained)Yes (if heat is maintained and the system is drained)
9Falling ObjectsNoYesYesYesYes
10Weight of Ice/SnowNoYes (with exceptions)Yes (with exceptions)Yes (with exceptions)Yes (with exceptions)
11Wind damage to trees and removalNo (except for perils insured against with limits)No (except for perils insured against with limits)No (except for perils insured against with limits)No (except for perils insured against with limits)No (except for perils insured against with limits)
12Collapse of building (see additional coverage)NoYes (with exceptions)Yes (with exceptions)Yes (with exceptions)Yes (with exceptions)
13Landslide, mudslideNoNoNoNoNo
14EarthquakeNoNoNoNoNo
15Damage by animals to building or contentNoNoNoNoNo
16Glass Breakage (optional peril - Vandalism)NoYes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)Yes (except vacant 60 days in a row prior to loss)
17Power Surge (on premises) - electrical appliancesNoYesYesYesYes
18Theft
(a) Building MaterialsNoYes (except if under construction and prior to occupancy)Yes (except if under construction and prior to occupancy)Yes (except if under construction and prior to occupancy)Yes (except if under construction and prior to occupancy)
(b) Personal propertyNoYesYesYesYes
(c) From unattended auto off premisesNoYesYesYesYes
(d) Specials limits unscheduled jewelry and fursNoYes (see policy for applicable limits for loss by theft)Yes (see policy for applicable limits for loss by theft)Yes (see policy for applicable limits for loss by theft)Yes (see policy for applicable limits for loss by theft)
19Refrigerated PropertyNoYes (limit $500 per occurence)Yes (limit $500 per occurence)Yes (limit $500 per occurence)Yes (limit $500 per occurence)
20Volcanic eruptionYesYesYesYesYes
21Credit card, forgery and counterfeit currency lossesNoYes (limit of $1500 per occurrence)Yes (limit of $1500 per occurrence)Yes (limit of $1500 per occurrence)Yes (limit of $1500 per occurrence)
22Loss deductiblesYes ($250 up to $2,500)Yes ($100 up to $5000)Yes ($100 up to $5000)Yes ($100 up to $5000)Yes ($100 up to $5000)
23Liability - Bodily injury and property damageNoYes (on occurrence basis with $100,000 to $300,000 coverage)Yes (on occurrence basis with $100,000 to $300,000 coverage)Yes (on occurrence basis with $100,000 to $300,000 coverage)Yes (on occurrence basis with $100,000 to $300,000 coverage)
24Medical paymentsNoYes (per person $1,000 & per accident $25,000)Yes (per person $1,000 & per accident $25,000)Yes (per person $1,000 & per accident $25,000)Yes (per person $1,000 & per accident $25,000)
25Liability coverage off premises for owned recreational motor vehiclesNoNo (except as provided under liability incidental coverage)No (except as provided under liability incidental coverage)No (except as provided under liability incidental coverage)No (except as provided under liability incidental coverage)
26Damage to property of othersNoYes (limit of $1000 per occurrence)Yes (limit of $1000 per occurrence)Yes (limit of $1000 per occurrence)Yes (limit of $1000 per occurrence)
*Coverages will depend on the purchase of Extended Coverages and Optional Perils.**Compare with Condo Bylaws