HOMEOWNERS PACKAGE POLICY

(Insurance Services Office HO-2000 program "open perils" form HO 03)

PRINCIPAL COVERAGES

Fire & Lightning Building glass breakage
Windstorm & Hail Theft
Explosion Falling objects
Vehicle or Aircraft damage Collapse
Smoke Bursting of plumbing or heating system
Vandalism Freezing of plumbing or heating system
Any other risk of physical damage to building not specifically excluded
Comprehensive Personal Liability
Medical payments to others hurt on the premises

PRINCIPAL EXCLUSIONS & LIMITATIONS

Excluded:Flood, earthquake, insect or animal damage, wear and tear, deterioration, pollution
Limited: Escaped Fuel, Upgrades required by changes in building codes

PERSONAL PROPERTY SUBJECT TO LIMITS includes
Furs,jewelry,cash,coins and stamps,precious metals,guns,boats,silverware
 

AMOUNTS OF COVERAGE

Dwelling
should be its replacement cost
Detached Structures
up to 10% of dwelling amount
Household furniture and personal property
usually 50% -70% of dwelling amount
Loss of Use
up to 30% of dwelling amount
Comprehensive personal liability usually $300,000 or $500,000
Medical payments to others usually $1,000

DEDUCTIBLE CLAUSE:
Pays only for losses in excess of amount selected. ($100,$250,$500,$1000 and $2500)

WIND DEDUCTIBLE (in coastal areas) Usually 2% of dwelling amount. May range from 1% to 5%, depending on company and proximity to coast.  Some companies have Hurricane or Named Storm deductibles which do not apply to other types of wind losses.
 
 
Information contained in this proposal is intended to provide you with a brief overview of the coverages provided for reference purposes only. It is not intended to provide you with all policy exclusions, limitations and conditions. The precise coverage afforded is subject to the terms, conditions, and exclusions of the policies issued.