This coverage protects personal property owned by your firm and used in your operations. Furniture and fixtures, equipment and machinery, raw stock, and finished goods all fall within this category. Personal property of others while located in your covered building or within 100 feet of the premises can also be insured. Contents located off premises are not covered and must be insured by alternate methods.

Actual Cash Value Valuation
This valuation method pays for the cost to repair or replace damaged property with like kind and quality, less reasonable deductions for wear and tear, deterioration and economic obsolescence. Back to top

Additional Property Coverage Endorsement (CP1410)
This endorsement is used to add back coverage for certain scheduled property items excluded from your basic property policy. Back to top

Agreed Value Valuation
This coverage is used to remove the coinsurance requirement for covered property. With it your company agrees that the amount of coverage purchased is adequate, and any coinsurance requirements are waived if the limit of insurance equals the agreed value. Back to top

Alcohol Beverages Tax Exclusion (CP9910)
This endorsement excludes coverage for federal tax or customs duties which have been paid on alcoholic beverages held for sale if such goods are destroyed by fire or other perils excluding theft. These taxes or duties are normally refunded by the Treasury Department. This endorsement can reduce the values required by the coinsurance clause, resulting in a savings in your insurance premium. Back to top

Basic Causes of Loss (CP1010)
This coverage is used to provide protection for the following causes of loss: fire, lightning, explosion, windstorm, hail, smoke (except from agricultural smudging or industrial operations), aircraft, vehicles, riot, civil commotion, vandalism, sprinkler leakage, sinkhole collapse and volcanic action. Back to top

Blanket Coverage
This coverage allows for a single limit of insurance to apply to two or more property items at one location, or to two or more kinds of property at several locations, instead of a specific amount applying to a specific subject of insurance. It allows you to shift property values with no impairment of recovery, as long as the total amount of insurance carried complies with the coinsurance requirement stated in the policy. Back to top

Brands & Labels Endorsement Used (CP0401)
This endorsement will permit you, at your expense, to stamp "salvage" on, or remove labels from, damaged merchandise which your insurance
company has paid for. This ensures that purchasers of the salvaged merchandise will realize it is substandard merchandise and protect your reputation in the market place. Back to top

Broad Causes of Loss (CP1020)
This coverage is used to provide protection for the following causes of loss: fire, lightning, explosion, windstorm, hail, smoke (except from agricultural smudging or industrial operations), aircraft or vehicles, riot, civil commotion, vandalism, sprinkler leakage, sinkhole collapse, volcanic action, breakage of glass, falling objects, weight of snow, ice or sleet (except for damage to gutters, downspouts or personal property outside of buildings) and limited water damage. Back to top

Cemetery Property of Others
This coverage is used to provide protection for grave markers or other specified property of others usual to a cemetery. Back to top

Co-Insurance
A policy may contain a coinsurance clause requiring that the limit of coverage be a minimum percentage (usually 80%) of the insurable value
of your property. If the amount of insurance carried is less than what is required by this clause, any claim payment may be reduced by the same percentage as the deficiency. For example, covered property worth $100,000 may require a minimum of 80%, or $80,000, of coverage for compliance with the policy's coinsurance requirement. If only $60,000 of coverage is carried (25% less than the required $80,000), then any loss payment would be reduced by 25%. Back to top

Commandeered Property
This coverage is used to insure property of others that is seized or taken over for official use in an emergency situation. This must be a spontaneous, non-planned action on the part of the officer in charge and includes, but is not limited to, automobiles, watercraft and equipment. Back to top

Consequential Loss (CP9902)
This coverage protects you from the reduction in value of stock you have in process that is caused by the damage of other stock. It covers you against the loss of value of this product, even though the property was not directly damaged. For example, a loss at a sub-contracting firm could prevent them from shipping an important component. You may have a number of products which are partially finished, and worth nothing on the market without this part. The financial loss to you, represented by the difference between market value at the time of loss and current salvage value, will be covered. Back to top

Cost of Well Control
This coverage will provide reimbursement for expenses incurred to regain control of gas or oil wells that get out of control during drilling, servicing or repair operations. Back to top

Crops Coverage
This coverage will provide protection for agricultural products while located outside of an insured building(s). The basic Property policy
excludes coverage for such property unless located within a covered structure. Back to top

Debris Removal Coverage
Your Property policy provides that debris removal costs resulting from a covered loss will be covered up to a maximum of 25 percent of the amount paid for such damaged property. If the property limit is exhausted (as with a total loss) or it exceeds the 25% limitation, an additional $10,000 is available for these costs. Back to top

Deductible
A policy may include a deductible in its provisions. This limit specifies the amount that will be deducted from any payment made to you because of a covered loss. Back to top

Earthquake Coverage (CP1040)
This coverage is used to provide protection for loss due to earth movement including earthquake shocks and volcanic eruption. Back to top

Earthquake Sprinkler Leakage
This coverage is used to insure against sprinkler leakage caused by earthquake; or volcanic eruption, explosion or effusion. Without the
expense of adding full earthquake coverage, it will provide at least some limited earthquake protection. Back to top

Electrical Apparatus (CP0410)
This coverage is used to insure light, power and traction property of a public service against loss to electrical apparatus when caused by
fire explosion or damage by electricity. Back to top

Extended Water Damage Coverage
This coverage is used to provide protection against loss caused by back up of sewer or drains; or underground water flowing or seeping
through foundations, floors, basements, doors or other openings. Back to top

Farm Business Property - Off Premises (FP0409)
The Farmowners/Ranchowners policy provides only limited coverage for business or personal property located off premises. This limit has
been reviewed to ensure that adequate coverage is written. Back to top

Farm Household Personal Property
Coverage for your household property is provided as a percentage of the limit of your residential dwelling amount. Additional coverage
is available to increase this amount, if necessary. Back to top

Farm Peak Season End. (FP1229)
This coverage will allow your farm/ranch personal property limit to be increased during specific periods of time. Back to top

Fire Department Service Charge
This coverage is used to extend the Property policy, up to the stated amount, for resulting fire department service charges that are incurred because of a covered loss. Back to top

Flood Coverage
This coverage is used to provide protection against loss due to water damage arising from flooding, surface water, tides, tidal waves, and the overflow of any body of water. Back to top

Fragile Items Breakage Coverage
This endorsement is used to broaden the Property policy to include special perils coverage for breakage of fragile items. Back to top

Functional Personal Property Valuation (CP0439)
This valuation method will allow you to replace scheduled personal property with equivalent property that performs the same function. This can be of greater or lesser value than the lost property usually because of changes in technology that render the destroyed item obsolete or impossible to replace. Back to top

Furs/Jewelry Coverage
This endorsement is used to provide extended theft coverage for jewelry, precious metals, furs and other items of this nature. Limited protection is provided in your Property policy, but the additional coverage is needed since the value of these items can often be significant. Back to top

Grain Reporting Form (CP1310, 30)
This specialized form is used to insure grain belonging to or held by you on a reporting form basis, with provision for annual premium adjustment. Back to top

Household Personal Property Coverage (CP9992)
This coverage is used to extend your Property policy to include protection for household personal property while located in or on a covered building used as a living quarters. Please note that you may apply up to 10% of the specified limit for such property while it is away from the described premises. Back to top

Improvements and Betterments
This coverage is used to extend your Property policy to insure against loss of specified alterations or additions that you have made in the building you rent or lease. This is important because these improvements become the property of the building owner and you may not be compensated for their destruction after a covered loss without this coverage. Back to top

Inflation Guard
This coverage is used to automatically increase the limits of insurance on covered property by a predetermined percentage at regular intervals. Its purpose is to eliminate the risk that inflation will lead to coinsurance penalties and underinsurance. Back to top

Leased Property (CP1460)
This endorsement is used to extend the Property policy to include coverage for specified leased property items. An Agreed Value option allows you to establish the amount that will be paid, in the event of loss, for each item listed on the endorsement. Back to top

Market Value Valuation For Stock (CP9931)
This loss settlement clause is used for goods or commodities that are traded on established market exchanges. It obligates your carrier to
adjust losses to such property based on the current market prices posted on the date of loss. Back to top

Marring/Scratching of Plates
This endorsement is used to extend your property policy to include protection for loss resulting from the marring or scratching of negatives or plates. Most standard property policies exclude these exposures. Back to top

Mechanical Breakdown/Arcing
This coverage will extend the Property policy to include protection against loss resulting from artificially generated electric current and mechanical breakdown of machinery. Most standard Property forms do not include coverage for losses of this kind. Back to top

Mobile Home Contents (CA2016)
This coverage is used to insure personal property while located within an insured mobile home. The Mobile Home Physical Damage policy does not insure these items within its definition of coverage. Back to top

Molten Material (CP1060)
This endorsement is used to extend your Property and Time Element coverages to include protection against damage caused by the accidental discharge of, or heat emanating from, any molten material. Back to top

Motorized Unit Coverage
This endorsement is used to extend your property coverage to include protection for loss to motorized units (such as mopeds, minibikes or
motor scooters) while located on your premises. Most standard forms exclude self-propelled machines licensed for use on public roads and
operated principally away from described premises. Back to top

Newly Acquired Property (CP0425)
This coverage is used to extend your Property policy to insure new buildings while being built on your premises and newly acquired buildings intended for similar use as your described premises. This extension also extends your Personal Property coverage to apply to personal property at other locations except fairs and exhibitions. The amount of coverage provided under these extensions is restricted to the stated limits and period of time specified in the policy. Back to top

Off Premises Storage/Processing
This coverage is used to extend your Property policy to include protection for personal property while located off-premises for storage or processing for the limits specified in the form. Back to top

Orchard Tree Coverage
This endorsement is used to extend the Farmowners/Ranchowners policy to include protection for trees used in your commercial operations.
Coverage is written on a named perils basis for a limit per tree up to an aggregate amount per loss. Back to top

Outdoor Trees and Shrubs (CP1430)
This endorsement is used to provide broader coverage and higher limits for outdoor trees, shrubs and plants at your covered premises.
This is needed because only limited protection is provided in your standard Property policy. Back to top

Peak Season (CP1230, FP1229)
This coverage will provide higher amounts of insurance for specific periods of time during the year as indicated by the dates on the
endorsement. Using this endorsement allows you to enjoy many of the advantages of a reporting form without the problems associated with
reporting requirements. Back to top

Penalty Expense Reimbursement
This coverage is used to pay for contract penalty costs that are incurred because of the postponement or failure to deliver a product due to a covered loss. Back to top

Personal Effects of Church Members
This coverage will provide protection for the personal property of church officials and members that is in your care, custody or control while located at a covered location. This can be important since you may be responsible for such property. For example, church policy may require that the personal effects of selected church officials be covered by the church's insurance program. Back to top

Personal Effects of Employees
This coverage is used to insure the personal effects of owners or employees for the limits and perils describe in the policy. This can be important since you could be responsible for such property. For example, union contracts may require that employee tools be covered by you. Back to top

Personal Property In-Transit
This provision is used to extend your Property policy to includespecified protection for your personal property (other than property in the care of sales persons) while such property is being transported in a motor vehicle owned, leased or operated by you. Back to top

Personal Property of Others
This coverage is used to protect against loss of personal property of others while in your care, custody or control as specified in the policy. Back to top

Personal Property Off-Premises
This provision is used to extend your personal property coverage to include specified protection for such property (other than stock) while it is temporarily located at premises you do not own, lease, or operate. Please note that this extension does not cover these items while they are in-transit; at a fair or exhibition; or in the care, custody or control of a salesperson. Separate insurance must be purchased for these exposures. Back to top

Pollutant Clean Up (CP0407)
This coverage is used to pay for expenses you incur to extractcovered pollutants from land or water at described premises as long as the discharge, dispersal, seepage, migration, release or escape is caused by a covered peril that occurs during the policy period. Please note that such expenses will be paid up to the specified amount, and only if they are reported to your insurance carrier in writing within 180 days from the date on which the loss occurs. Back to top

Precious Metals/Alloys Coverage
This coverage is used to provide extended theft coverage for specified precious metals, or alloys while located on your premises. Limited protection is provided in your standard Property policy, but the additional coverage is needed since the value of these items can be significant. Back to top

Product Contamination
This coverage is used to extend your Property policy to protect against loss of your product due to certain specified types of contamination that can occur in conjunction with your operations. This is important because standard Property policies do not normally cover these exposures. Back to top

Product Leakage
This coverage is used to extend your Property policy to include protection against loss of liquid product due to the collapse, rupture or otherwise discharge of product from its holding container. Back to top

Production Materials Valuation
This endorsement provides that, in case of loss, specified production materials will be valued for the predetermined stated amount. This is needed since it can be extremely difficult to determine their worth with traditional replacement cost valuation. Back to top

Proper Valuation Used
As part of your risk management program, we have reviewed your Property coverage to determine that the proper valuation methods have
been used for each of your property items. This is important since it may be necessary to use a combination of several methods to ensure that adequate protection is provided. Back to top

Property Legal Liab. (CP0040)
This coverage is used to provide legal liability protection for loss to property of others that is in your care, custody or control. Back to top

R&D Documentation
This coverage is used to extend your Property policy to include protection against damage or destruction of specified research and
development documentation. The coverage pays for the costs needed to replace or reproduce the damaged documents with like kind and quality including the necessary extra expenses incurred by you in the repairing or reproducing of such documents. Back to top

Radioactive Contamination (CP1037)
This endorsement is used to extend your Property and Time Element policies to insure against loss caused by sudden or accidental radioactive contamination or damage arising from radioactive material used or stored on your premises. Back to top

Replacement Cost on Personal Property (FP0436)
This coverage will allow you to replace all items destroyed by a covered peril without deduction for depreciation, as long as the property is replaced by like kind and quality. Back to top

Replacement Cost Valuation
This loss valuation method pays for the cost to repair or replace damaged items with like kind and quality without deduction for depreciation. This is important since you could face a substantial loss if you must replace property at today's prices but receive only the depreciated value of the property that was destroyed. Back to top

Reporting Form Coverage (CP1310)
This form is used to insure personal property when values fluctuate over time or shift between various locations. The limit of insurance is set high enough to cover your maximum potential for loss as stated in daily, weekly, monthly or quarterly reports made to your carrier to determine premium charges. Coverage can also be provided for acquired and incidental locations if listed on the form. It is important to note that failure to provide timely and accurate reports can result in penalties in the event of a loss. Back to top

Scheduled Farm Personal Property
This section of the Farmowners/Ranchowners policy is used to insure personal property used in conjunction with your business. Such property, including tools, seed, animal feed, fertilizer, etc., must be specifically scheduled in the policy to activate coverage. Back to top

Scheduled Personal Property (FP0461)
The Farmowners/Ranchowners program contains limitations affecting both the perils covered and limits provided for certain types of property. These include antiques or art objects, jewelry, silverware, furs, watches, firearms or cameras. The broadest available coverage can be written by listing these items and their values in a Scheduled Property form. Back to top

Selling Price Valuation (CP9930)
This coverage is used to extend your Property policy to insure both the cost of your stock and normal profit in case of loss. It is added because, even with replacement cost coverage, most Property forms are normally written to only pay for the cost to recreate or purchase the lost product without reimbursement for normal profit. Back to top

Special Causes of Loss (CP1030)
This coverage will protect covered property against direct loss arising from any cause not specifically excluded. The advantage of this form is that the insurance company must prove that a loss is specifically excluded in order to deny coverage under the policy. Back to top

Spoilage Coverage (CP0440)
This endorsement is used to insure against loss to perishable stock when caused by a change in temperature or humidity that results from
mechanical breakdown, contamination or power outage. Please note that coverage for these additional perils must be indicated on the form for it to be activated and includes protection for both on premises and off premises power sources. Back to top

Standing Timber Coverage
This policy is written to cover the loss of trees used for commercial purposes due to an insured peril. Back to top

Surface Run-Off Protection
This endorsement is used to broaden your personal property coverage to include loss of product, such as oil or gas, which is contaminated
by surface water runoff. Back to top

Trellis/Stanchion Coverage
This coverage will protect against loss of trellises or other property used in the growing and supporting of crops in open fields. Back to top

Unscheduled Farm Personal Property
This coverage is used to insure farm personal property on an unscheduled blanket basis. This involves preparing an inventory of the types of property that you want to cover in this section. It contains a coinsurance clause requiring you to insure to the coinsurance amount. This is unlike scheduled property coverage which does not provide insurance unless the item is specifically scheduled in the policy. Back to top

Utility Services Damage (CP0417)
This coverage is used to insure against property damage that results from an interruption of services by a facility that provides you with power, water or communications when caused by a covered peril. Back to top

Wine, Liquor Valuation (CP9905)
This provision will modify the Property policy so that wine or distilled spirits are valued on a market value basis where, in case of loss, the amount paid is based on the current market price. Back to top

Wrongful Delivery of Products
This coverage will pay for the loss of your product that results from erroneous or wrong delivery. For example, if you deliver a load of fuel that cannot be recovered, this coverage would pay for the cost of that fuel up to the limit insured in the form. Back to top