Section providing protection in four areas:
All four property coverages A, B, C, and D are offered through one of the following forms:
Numerous endorsements can be added to each one of the above forms to increase the limits of coverage and the properties insured. For example, specified property such as jewelry, furs, silverware, and guns can be added through a valuable personal articles endorsement. Also, an inflation guard endorsement (reflecting increases in the cost of construction) can be added to Coverage A, which automatically increases Coverages B, C, and D, since they are expressed as a percentage of Coverage A. The insured is obligated to take certain actions following a loss, including: notifying the company or agent immediately; if the loss is due to theft, notifying the police immediately; if credit cards are stolen, notifying the credit card company immediately; and protecting the property from further damage. There is usually an 80% coinsurance requirement which means that the insured must carry insurance on a replacementcost basis of at least 80%.