Building Coverage

JUMP TO TOPIC

ELIGIBLE PROPERTIES:
Link: PROPERTY ELIGABLE GP AFM

Back to Top

BUILDING DEFINATION:
Link: DEFINATION BUILDING A DP

Back to Top

BUILDING ADDITIONS AND EXTENSIONS:
Link: ADDITIONS AND EXTENSIONS EXPLAINED A ACM

Back to Top

BUILDING UNDER CONSTRUCTION:
Link: BLDG UNDER CONST COVERAGE A DP

Back to Top

DEBRIS REMOVAL:
Is covered to dispose of owned debris anywhere, but only to move the non-owned debris away from your building to affect repairs. The policy does not cover debris removal in your yard, except owned building and contents property.
Link: DEBRIS REMOVAL A DP

Back to Top

FOUNDATION DAMAGES:
Most carriers will pay for damage to slabs and foundations caused by erosion under the slab or hydrostatic pressure, but usually only an epoxy repair unless slab is totally destroyed. Usually the slab in a basement is not a integral part of the foundation. Engineers are usually retained by the Insurance Co. if there is damage.
Links:
FOUNDATION DAMAGES A ACM
HYDROSTATIC PRESSURE A ACM
STRUCTURAL DAMAGE PE A ACM

Back to Top

PAIR AND SET:
If you had 10 chairs, and only one was damaged flood only owes to match the other 9 chairs as close as possible. If the lower cabinets were damaged flood does not pay for the upper cabinets, only to match as close as possible,
Link: PAIR AND SET EXCLUSION A ACM

Back to Top

CODE COMPLIANCE & ORDINANCE OF LAW
There is no coverage except for ICC “Increased Cost Of Compliance. See ICC
Link: ORDINANCE OF LAW DP

Back to Top

OTHER INSURANCE:
If you have another policy that covers flood damage the adjuster may need to pro-rate the proportion of the loss.
Links:
OTHER INSURANCE DP
OTHER INSURANCE WITH EXAMPLES A ACM

Back to Top

REPLACEMENT COST COVERAGE OR R/C:
The General Property policy provides no coverage for Replacement Cost for either building or contents. Claims are paid on an actual cash value basis or ACV. The exception is new stock.
Link: COVERAGE RECAP GP ACM
Link: DEFINATION ACV A ACM

Back to Top

LOSS OF USE:
There is no coverage for loss of use, revenue or business interruption.
Link:
LOSS OF USE A DP
LOSS OF REVENUE BI AND ALE ACM GP

Back to Top

Comments are closed.