SECTION 2 Declarations o Statements that provide information about the particular property or o Purpose info is used for underwriting and rating purposes for activity to be insured identification of the insured o Info provided identification of the insurer named of the insured location of property period of protection amount of insurance amount of premium size of deductible 2 basic forms of insurance agreement o Named peril only things specifically named in the policy o All risk policy all losses are covered except those loss specifically excluded Exclusions o 3 major types peril losses property o purpose Certain perils are considered uninsurable by private insurers Extraordinary hazards may be present Coverage is provided by other contracts Moral hazard is present to a high degree Coverage is not needed by the typical insured Homeowners policy o HO 2 broad form named peril o HO 3 how property is covered Section one coverage Persons Insured under Section I o You and spouse or resident relatives Exclusions for all o Earth movement different in FL unless state mandates differently o Water damage but possible theft incurred is covered o Power failure if occurs at actual residence o Neglect following a loss o War Nuclear hazard o Intentional loss o Government action except if they are trying to prevent spread of fire mostly out west of country o Coverage A Dwelling actual home all risk Coverage B Other Structures porch garage all risk A B exclusions o Freezing unless Maintain heat in residence Shut off water supply and drain system dry so if burst no water in pipes o Theft at residence under construction and unoccupied Vandalism and mischief if you ve been away from residence for 60 days Mold fungus and wet rot unless hidden Wear and tear deterioration mechanical breakdown or latent defect Settling shrinking bulging or expansion Birds vermin rodents or insects Animals owned or kept by an insured A b underinsured clause o If insurance carried is less than 80 of replacement cost the insured receives larger of ACV replacement cost depreciation OR Amount of Insurance carried X Loss 80 X RC Coverage C Personal Property you can pick up and o Personal property commonly away from move residence o Special limits o Exclusions Cash 200 Audio Accessories 1 500 in on Jewelry 1 500 theft only vehicle Firearms 2 500 theft only Business property 2 500 at residence or 500 away from residence Covered elsewhere Animals birds and fish your pets Motor vehicles except motor wheelchair and something used to maintain residence Aircrafts and hovercrafts Property of tenants except relatives Business data but covers things that were used to store data i e hard drive computer Coverage D Loss of Use o Covers outside fees incurred while property is o Only covered if cause of loss is covered in section o Covers up to 30 for additional expenses being repaired 1 incurred o If suffer a total loss policy will cover up to a certain time until you can build get a new home Coverage E Additional Coverages o Reasonable repairs o Tress shrubs and plants named peril o Fire department service charge mostly covered by taxes if you live within city limits o Credit card counterfeit money forgery excluded if its fraud or a member of your household steals it o Landlord s furnishings in rented space o You are responsible from preventing further damage from occurring to your property o Business unless injury caused by someone 20 has no employees and works part time o Professional liability o War o Communicable Disease o Sexual molestation corporal punishment or physical or mental abuse o Controlled substance o Motor vehicles unless its not registered on public roads i e lawn mower o Watercraft unless in use on water only under HO if injured while it is being stored o Aircraft Hovercraft o Expected intended injuries unless you can prove that you were protecting yourself Coverage E Personal Liability Section 2 Persons insured under Section II Exclusions for all o Any property damage or bodily damage an insure causes to someone else o Does not have to occur at your actual residence o You must be deemed legally liable for the damage in order to receive any funding o Max coverage is 100 000 o Exclusions Property damage to property owned by insured Nuclear energy Third party coverage does not insure your own injury Coverage F Medical Payments to Others o Someone injured by insured or on insured s property o You do not need to prove legal liability injury just needs to occur on insured location or if caused by activities of insured o Max payment is 1000 o Treatment has to be reasonable and necessary based on injury to be covered o Exclusions To a residence employee if engaging in activities that apply to position or if occurs on property Regular residence i e if nanny is in park playing with kids and twists ankle shes covered under your plan b c she s working o HO 4 renters coverage of personal property not actual dwelling itself o HO 5 all risk o HO 6 condo you own walls in can change dwelling I e fire damaging cabinets my insurance fire damaging outside of building ho insurance o HO 8 older home o standard Auto policy o Personal introduced in 1977 ISO o Definitions Business Family Member any related by blood marriage adopted or anyone in your care under 21 yrs old Occupying being in or on getting into out of vehicle Your Covered Auto Described car Newly acquired within policy coverage period Temporary substitute car Trailers some coverage o Part A Liability Coverage Insuring Agreement Covers any bodily injury or property damage that you are legally liable for that results from automobile accident Insured persons you while operating any vehicle that meets requirements family with your permission borrowing a friends car can be covered under your policy Has additional coverage for defense cost you re sued Supplementary Benefits Bail bonds only for accident not speeding Reasonable expenses i e missing work for court Lost earnings acquiring documents Intentional acts Exclusions Owned property injuries to insureds Business related Non permissive use Non qualified vehicles Vehicles furnished or available for your regular use Vehicles while in a racing facility You and family are covered while occupying any vehicle also while you are a pedestrian if you re hit by car Insured persons o Other people in your car Limits Treatment o must be within 3 years of date of loss o Reasonable necessary o Injured person must qualify Other Insurance Covers
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