What's My Limit?
This amount or 10%, whichever is greater, for protection of property away from the residence
What is $1,000?
It's when absolutely no one occupies the property and hasn't for quote some time.
What is a Vacant Property?
Condition states that covered property losses are valued at actual cash value but not to exceed the amount necessary to repair or replace.
What is Loss Settlement?
Covers the insured in the event a covered loss makes the rental portion of a property unfit for normal use
What is Coverage D(Fair Rental Value)?
This provides coverage for nine optional classes of personal property
What is Personal Articles Form?
It's the coverage limit for theft of silverware, tea sets, trays, and trophies made of or including silver, gold, or pewter.
What is $2,500?
The cost to replace your home without deduction for depreciation
What is Replacement Cost?
Condition states that the loss will be paid within 60 days after reaching an agreement with the insured
What is Loss Payment?
Covers the dwelling, structures attached to the dwelling and materials and supplies for use in the construction or repair of the dwelling.
It's water from a natural source that may cover 2 or more acres that are usually dry.
What is a Flood?
The maximum amount paid for when the fire department is called to save or protect a covered property from a covered peril
What is the Fire Department Service Charge $500?
It's when you own the property and you also live there
What is Owner Occupied?
This condition states that, in the case of a loss to an item that is part of a set or pair, the insurance company is not obligated to pay the value of entire set
What is Pair or Set?
Covers the insured's personal property that is at the described location and is usual to the dwelling occupancy
What is Coverage C (Personal Property)?
This helps cover tourists' clothing, cameras, souvenirs, and sports equipment
What is Personal Effects Floater?
The limit paid for theft of jewelry, furs, and precious/semi-precious stones.
What is $1,500?
It's the cost to replace your home minus the depreciation
What is Actual Cash Value?
Condition states that if the insured or insurer recovers property on which the insurer has made loss payment, the other party must be notified
What is Recovered Property?
Pays for additional living expenses the insured incurs after a covered loss, including reasonable motel, dining, laundry, and transportation expenses.
What is Coverage E(Additional living expense)?
This coverage is for boats less than 26 feet
What is Personal Watercraft?
It's the coverage limit for money or related property, coins, and precious metals.
What is $200?
This coverage is needed for those that are paid to care for children in their home
What is a Home Day Care Endorsement?
Condition gives the insurer the right to repair or replace damaged property with material or property of like kind and quality within 30 days or receiving the insured's statement of loss
What is Our Option?
Insures buildings on the premises that are separated from the dwelling by a clear space or connected only by a fence, utility line, or similar connection
What is Coverage B(other detached structures)?
It is usually $1,000,000 and higher and requires a primary underlying policy/policies to be in force.
What is an Umbrella Policy?