Insurance Policy Coverage Overview

Insurance Policy Coverage Amounts

• Newly Acquired Buildings: Maximum coverage is $2,000,000 per building.
• Business Personal Property: Maximum coverage is $2,000,000 per occurrence.
• Personal Effects of Employees: Excluded from coverage.
• Foundations of Buildings: Excluded from coverage.
• Employee Tools: Covered under a specific extension.
• Inventory: Covered under the policy.

Exclusions for Fungi and Microbes

• Coverage excluded when fungi or microbes are part of a covered loss.
• Coverage excluded if damage is caused by water.

Period of Coverage for Newly Acquired Property

• Coverage period is 180 days.

Personal Effects of Others

• Maximum payout is $25,000.

Valuable Papers and Records

• Maximum coverage is subject to the Basket Aggregate Limit.

Property Off-Premises

• Coverage limit is $100,000.

Employee Tools Extension

• Tools used for business purposes are covered.
• Tools used in personal activities are not covered.

Loss of a Master Key

• Maximum payout is $25,000.

Green Standards Coverage

• Applies to energy-efficient appliances, rebuilding according to green building codes, and motor vehicles.

Business Income Loss Due to Alternative Energy Interruption

• Maximum payout varies, subject to the Business Income limits.

Coverage for Accidental Discharge of Chemicals from a Fire Extinguisher

• Equipment Breakdown Coverage applies.

Property Off Premises

• Covers property at exhibitions, fairs, or trade shows.

Fine Arts Coverage

• Paintings, sculptures, furniture, fixtures, business inventory, and vehicles are covered.

Employee Tools at Described Premises

• Maximum coverage is $250,000.

Maximum Payout for Personal Effects of Employees

• The amount is $25,000.

Burglary Damage to Non-Owned Building

• Maximum coverage is $100,000.

Business Income Due to Government Confiscation

• Maximum coverage is $250,000.

Certified Act of Terrorism Definition

• Must involve physical damage to property.
• Certified by the Secretary of Defense.

Maximum Coverage for Loss of "Net Leasehold Interest" Due to Lease Cancellation

• Maximum limit is $250,000.

Coverage for Loss of "Net Leasehold Interest" Details

• Loss based on property value.
• Loss of income during restoration period.

Fine Arts Coverage Amount

• The coverage amount is $100,000.

Mobile Communication Property Payout

• Maximum payout for mobile communication property is $100,000.

Alternative Energy Coverage Applicability

• Loss due to power outages from non-renewable sources
• Only applies to losses due to failure of alternative energy systems.

Maximum Coverage for Loss Due to a "Certified Act of Terrorism"

• $1,000,000 (Subject to the aggregate limit)
• $500,000 max for a "Certified Act of Terrorism" is incorrect.

Maximum Coverage for Employee Tools Loss

• $500,000

Green Standards Coverage Application in Repair/Replacement

• Hiring professionals, removing hazardous materials, and installing energy-efficient appliances are part of the repair process.

Coverage for Valuable Papers and Records (Off Premises)

• $100,000 maximum.

Coverage for Business Property Further Than 100 Feet

• Up to $50,000

Coverage for Service of Suit

• Designation of an agent to receive legal notices.
• Expedited claims process.

Coverage for Alternative Energy

• Actual loss of business income, and extra expense due to energy failure.

Maximum Coverage for Debris Removal

• 25% of total loss amount plus $10,000

Business Income Suspension Coverage Limits

• Limited to coverage limits.
• For damages caused by fire.
• Based on actual loss of revenue during restoration.

Alternative Energy Coverage Explicit Exclusions

• Utilities supplying the premises.
• Alternate power generating equipment.
• Business income losses due to alternative energy system failure.
• Costs associated with purchasing energy from third parties.

Coverage for Loss or Damage Caused by a "Certified Act of Terrorism"

• Full coverage for damages exceeding $100 million.
  • Limited to incidents impacting only property.

Maximum Payout for Pollutant Clean-up and Removal

• $250,000 per occurrence.

Maximum Coverage for Government Confiscation

• $250,000 per occurrence.

Alternative Water System Coverage Limits

• Equipment used for potable water and non-potable water distribution.
• Underground water pipes.
• Water systems not directly related to energy efficiency.

Business Income Loss Due to Third-Party Location

• $100,000 max.

Maximum Coverage for Restoration Period Business Losses

• Based on actual loss of income.
• No limit on coverage.

Pollutant Clean-up and Removal Coverage

• Cleanup of hazardous materials, inside buildings.
• Cleanup of pollutants outside buildings.

Coverage Limit for Employee Tools

• Basket Aggregate Limit applies.

Loss Prevention Expense Coverage Details

• Costs to prevent damage.
• Repairs after a loss.
• Legal fees are not generally covered.

Maximum Coverage for Act of Terrorism Losses

• $1,000,000 ( Subject to the aggregate limit).

Business Income Loss Coverage Details

• Covers only losses during restoration period due to covered events.
• Including third-party negligence.
• Covers both direct and indirect losses.

War and Military Action Exclusion Details

• Damage stemming from civil commotion.
• Damage from military action or war.
• Damage originating from natural disasters.