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12 Cards in this Set
- Front
- Back
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Explain Loss Payment options as stated under Loss conditions in BDG & PP coverage
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Insurer's option: pay value; pay cost to repair or replace;take property at agreed value; or repair replace
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Loss situation - determine amount payable
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15% less from amount otherwise paid
excluded vandalism, water damage, sprinkler leakage unless protected by freezing; theft or attempted theft. |
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How does Agreed Value Option affect the coinsurance provision
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Suspends(does not delete or replace) coinsurance clause if limit is equal or greater value (coinsurance reinstated if no statement of value submitted).
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Explain Infaltion Guard
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Limit increased each year by percentage shown in declarations (Incr prorata 1/365)
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Property not elegible for Replacement Cost Option
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Personal Property of Others
Contents of a residence Works of art, atniques Stock unless option is chosen on Dec Page |
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Name four additional causes of Loss
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Falling Objects
Weight of Snow and Ice Collapse due to rot or infestation Water Damage from a covered cause of loss |
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Explain Loss Payment options as stated under Loss conditions in BDG & PP coverage
|
Insurer's option: pay value; pay cost to repair or replace;take property at agreed value; or repair replace
|
|
|
Loss situation - determine amount payable
|
15% less from amount otherwise paid
excluded vandalism, water damage, sprinkler leakage unless protected by freezing; theft or attempted theft. |
|
|
How does Agreed Value Option affect the coinsurance provision
|
Suspends(does not delete or replace) coinsurance clause if limit is equal or greater value (coinsurance reinstated if no statement of value submitted).
|
|
|
Explain Infaltion Guard
|
Limit increased each year by percentage shown in declarations (Incr prorata 1/365)
|
|
|
Property not elegible for Replacement Cost Option
|
Personal Property of Others
Contents of a residence Works of art, atniques Stock unless option is chosen on Dec Page |
|
|
Name four additional causes of Loss
|
Falling Objects
Weight of Snow and Ice Collapse due to rot or infestation Water Damage from a covered cause of loss |
