|plant is limited to 5% of the amount of insurance on the dwelling, or $500 |
per tree, etc., whichever is less.
Accounts, Bills, Deeds, Etc. - A limit of $1,000 applies to losses involving
accounts; bills; notes other than bank notes; passports; railroad, air line,
theater, and other tickets; securities; stamps and stamp collections and
Watercraft - A $1,000 aggregate limit is applicable to watercraft,
including their trailers, furnishings, equipment and outboard motors.
Trailers - Coverage is limited to $1,000 on trailers.
Breakage of Glass - Policy limits to $100 recovery for anyone loss under
Damage to the Property of Others - Under this extension of the policy, the
insured is covered to a maximum of $500 in anyone occurrence for loss
or damage to property of others which is in his or her custody. There is
no coverage, however, for loss caused intentionally by an insured under
the policy who has attained the age of 13, or to property owned by or
rented to an insured, a tenant of the insured or any resident of his or her
Fire Legal Liability - The liability section of the policy is extended to cover
the insured's liability for damages to the insured premises and house
furnishings arising from fire, explosion, or smoke or smudge caused by
sudden, unusual and faulty operation of any heating or cooking unit.
The Homeowners policy covers the buildings and personal property of
the insured while on the premises and subject to the limitations described
below - AWAY FROM PREMISES - while off premises.
Property Removed - If property is removed to protect it from an insured
peril which is endangering it, it is covered against all risks to the limit
applicable to the various classes of property insured under the policy.
Away from the Premises - As pointed out under Coverage C, coverage
on personal property applies anywhere in the world, except that only
10% of the personal property limit may apply if normally situated at
another residence of the insured.
The outline of the Homeowners forms analyzes the mandatory
coverages of the basic policy. A array of optional coverages is offered
under the Homeowners policies. Below are some of the more widely
used endorsements that provide additional protection:
Glass Coverage - The policy may be endorsed to cover scheduled
articles of valuable glass.
Earthquake Coverage - The policy may be extended to cover the peril of
Demolition, Increased Cost - An insured may be living in a dwelling of a
construction type which could not be utilized in rebuilding after a loss due
to the operation of zoning laws. (This entire question is discussed under
FOR HOW MUCH-Building Ordinance Coverage.) Coverage for the
increased cost of reconstruction may be provided by endorsement of the
MY Insurance Agency
The materials on this website are meant to
be informative in nature. Due to the ever
changing and varying state laws, and the fact
some insurers offer coverage in slightly
different forms from the Insurance Services
Office (ISO) standard forms, we cannot
guarantee the accuracy of the materials on