IMch15 - CHAPTER 15 Risk Management for Homeowners...

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CHAPTER 15 Risk Management for Homeowners HOMEOWNERS’ PROGRAM: DEVELOPMENT Concise Language Multiple-Line Minimum Amount of Coverage Lower Cost OUTLINE OF HOMEOWNERS’ COVERAGES ANALYSIS OF HOMEOWNERS’ POLICY HO-3 Coverage A—Dwelling HO-3 Coverage B—Other Structures HO-3 Coverage C—Unscheduled Personal Property HO-3—Property Excluded HO-3—Special Dollar Limits HO-3 Coverage D—Additional Living Expenses HO-3 Additional Coverages Debris Removal Reasonable Repairs Trees, Shrubs, and Other Plants Fire Department Service Charge Removed Property Credit Card, Electronic Fund Transfer Card, Forgery and Counterfeit Money Collapse Glass or Safety Glazing Material Replacement Landlord’s Furnishings Loss Assessment Ordinance or Law Grave Markers Special Conditions in Homeowners’ Property Coverages Loss Settlement Clause Pair-and-Set Clause PERILS COVERED IN HOMEOWNERS’ INSURANCE Open-Perils Dwelling Exclusions Freezing Fences, Pavement, Patios, and Similar Structures Buildings under Construction Vacancy beyond 30 Days Mold, Fungus or Wet Rot General Open-Perils Exclusion All-Property Exclusions Concurrent Causation Named-Perils Protection Fire and Lightning Windstorm and Hail Explosion Riot and Civil Commotion, Aircraft, and Vehicles Smoke Vandalism or Malicious Mischief Theft Limitations on the Premises Off-Premises Limitations Falling Objects 1
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Weight of Ice, Snow, or Sleet Accidental Discharge or Overflow of Water or Steam Sudden and Accidental Tearing Apart, Cracking, Burning, or Bulging of a Steam, Hot Water, or Air-Conditioning System or an Appliance for Heating Water Freezing Sudden and Accidental Damage from Artificially Generated Electrical Current Volcanic Eruption OPTIONAL PROPERTY ENDORSEMENTS TO HOMEOWNERS’ POLICIES Earthquake Inflation Guard Guaranteed Replacement Cost Personal Property Replacement Cost Unit Owners, Building Additions, and Alterations Special Personal Property Inboard Watercraft Outboard Watercraft FLOOD INSURANCE PERSONAL ARTICLES FLOATER (PAF) MOBILE HOME ENDORSEMENT TO HOMEOWNERS’ POLICY
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IMch15 - CHAPTER 15 Risk Management for Homeowners...

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