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  • OL AdditionalCoverages

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    Karly Alleyne
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    This document summarizes 12 additional coverages that may be included in a homeowner's insurance policy. For each coverage it indicates whether it creates an additional limit, if the deductible applies, and if it is dependent on another covered loss. Some key additional coverages include debris removal (provides additional 5% of liability limit), ordinance or law (provides additional 10% of coverage A limit), and credit card/access device fraud (provides additional $500 limit). The deductible generally applies to these additional coverages but may be waived in some cases like fire department service charges.

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    This document summarizes 12 additional coverages that may be included in a homeowner's insurance policy. For each coverage it indicates whether it creates an additional limit, if the deductible applies, and if it is dependent on another covered loss. Some key additional coverages include debris removal (provides additional 5% of liability limit), ordinance or law (provides additional 10% of coverage A limit), and credit card/access device fraud (provides additional $500 limit). The deductible generally applies to these additional coverages but may be waived in some cases like fire department service charges.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    22 views1 page

    OL AdditionalCoverages

    Uploaded by

    Karly Alleyne
    This document summarizes 12 additional coverages that may be included in a homeowner's insurance policy. For each coverage it indicates whether it creates an additional limit, if the deductible applies, and if it is dependent on another covered loss. Some key additional coverages include debris removal (provides additional 5% of liability limit), ordinance or law (provides additional 10% of coverage A limit), and credit card/access device fraud (provides additional $500 limit). The deductible generally applies to these additional coverages but may be waived in some cases like fire department service charges.

    Copyright:

    © All Rights Reserved
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    Additional Coverages

    Does this coverage create an Does the Is this coverage dependent on another
    Additional Coverages additional limit? deductible apply? covered loss?
    1. Debris Removal Yes, if primary limits are exhausted, Yes* Yes, damage to covered property by a
    an additional 5 percent of the limit of covered peril or volcanic eruption must
    liability is available. occur.
    2. Reasonable Repairs No. Yes* Yes, damage to covered property by a
    covered peril must occur.
    3. Trees, Shrubs, and Yes, up to $500 is provided for each Yes* No.
    Other Plants item up to a total of 5 percent of the
    Coverage A limit.
    4. Fire Department Yes, payment up to $500 is an No No, there must be a threat of a covered
    Service Charge additional limit. peril, but there is no requirement that the
    peril actually occur.
    5. Property Removed No. Yes* No, the removed property is covered
    against direct loss from any cause.
    6. Credit Card, Electronic Yes, an additional total of $500 No No.
    Fund Transfer Card or is available for any series of acts
    Access Device, Forgery, committed by any one person.
    and Counterfeit Money Defense coverage is also provided.
    7. Loss Assessment Yes, for an additional $1,000. Yes** No, not to property of the insured. But
    there must be a loss from a covered peril
    to association property.
    8. Collapse No. Yes * No, other property need not be damaged,
    but the collapse must result from a
    covered peril.
    9. Glass or Safety Glazing No. Yes* No, other property need not be damaged,
    Material but the glass breakage must result from
    a covered peril.
    10. Landlord’s No. Yes* No.
    Furnishings
    11. Ordinance or Law Yes, an additional limit of 10 percent Yes* Yes, to the dwelling or an “other
    of Coverage A is available. structure.”
    12. Grave Markers No. Yes* No.

    *Not a separate deductible. Only one deductible is subtracted from the total loss of a covered event.
    ** Only one deductible applies per unit to the total amount of any one loss, regardless of the number of assessments.

    © 2013 American Institute For Chartered Property Casualty Underwriters – All Rights Reserved

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