07.05. Common HO Endorsements

  1. Personal Property Replacement Cost Loss Settlement
    • Coverage C is always settled on ACV basis
    • used for antiques and fine art
    • for losses above $500, ACV is paid until repair or replacement is made. Notice to insurer can be done within 180 days of loss
    • many insurers will apply a higher Coverage C limit to account for the fact that ACV usually < repair or replace
  2. Assisted Living Care Coverage
    • for relative in home with assisted living services such as meals, medical supervision
    • relative must not live with insured
    • applies for Coverage C and E
    • special limits apply, like $250 for hearing aids or $500 for medical alert devices
    • excludes some specific activities such as body piercing, lawyer, accountant, professional liability
    • minimum requirement: ownership by insured, operation from residence premises, max 3 employees
    • Section I provides full Coverage C for business property, accounts receivable, loss of income
    • Section II provides product-completed coverage up to annual aggregate limit E
  4. Personal Injury Coverage
    • false arrest, detention
    • malicious prosecution
    • invasion of privacy, wrongful eviction
    • libel and slander
    • violation of right to privacy
    • exclusions: intentional, criminal, contractual liability, business, civic or public duties
Card Set
07.05. Common HO Endorsements
Common HO Endorsements