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  1. Limitations on business pursuits coverage | Ask PIA

    We’re wondering just how to interpret the Business Pursuits (HO-71) endorsement. What additional protection could this endorsement give to our client who is a teacher?

    I believe you are referring to the ISO’s Business Pursuits (HO 24 71) endorsement. With all the limitations spelled out in this endorsement, there really is not as much coverage there as your client may desire. Commonly applied to teachers, salespersons and clerical staff, the endorsement makes an exception...

  2. Coverage for baseball-card collection | Ask PIA

    In the Insurance Services Office Inc.’s HO-3 policy, is there coverage for a baseball-card collection? Our insured has a collection that is valued at about $35,000 and our carrier won’t schedule it. What should we do?

    There is no limitation or exclusion for the baseball-card collection in the ISO HO-3 policy, so it would be covered for its actual-cash value along with other personal property, subject to the applicable Coverage C limit. However, the insured may need documentation of the collection’s value, such as an appraisal,...

  3. Calculating the homeowners deductible | Ask PIA

    Our client had a homeowners claim involving a break-in. The $855 loss included $800 in cash stolen and $85 to repair the window. The policy was written with a $200 sublimit for cash and a $500 deductible. The company says that, because of the $200 coverage limit on cash, they...

    The client is will be correct if the policy is worded similar to the ISO HO policy editions dated prior to 2000. In these editions, the deductible should be applied to the entire loss. Usually, deductibles and limits of insurance present no conflicts. However, in some situations both provisions may...

  4. Separate policies indicated when one spouse moves out | Ask PIA

    We have clients who are getting a divorce. Their home is in the wife’s name only. However, the wife has moved out while the husband is still living in the house. The husband’s agent says that the wife needs to take out a dwelling policy and that our existing...

    Actually, three policies are advisable. 1) A homeowners policy is designed to be written only for owner-occupants, so an underwriter could appropriately demand a re-write to a dwelling policy. Not only is the wife ineligible for a homeowners policy, but some courts have allowed insurers to deny coverage after...

  5. DP tree removal provisions | Ask PIA

    Do the ISO dwelling policy forms (DP-1, DP-2 or DP-3) provide the same $500 additional coverage for tree removal as the ISO homeowners forms do?

    No. Unlike the homeowners policy, the dwelling policy does not provide a separate additional coverage for the removal of trees. It covers the cost of tree removal only to the extent that the tree is “covered property” and for an amount included in the limit for the tree. The tree...

  6. Mortgagee’s claim limited by H0-2 provisions | Ask PIA

    Our client has purchased an HO-2 policy on his home. He could not keep up with his mortgage payments, so the bank proceeded to foreclose on the loan about the time he abandoned the premises. Apparently, before he left, he vandalized the dwelling and stole various fixtures that were part...

    Mortgagees have a separate right to present a claim under the policy even if coverage has been denied to the insured, provided certain conditions are met (see the Mortgage Clause under Section I—Conditions). Nevertheless, the insurer is subrogated to the rights of the mortgagee and may pursue reimbursement from the...

  7. Collapse exclusion | Ask PIA

    My homeowners client had a five-inch thick and two-by-three-foot cement slab in front of his fireplace. The whole thing suddenly fell into the basement. Is the damage covered as collapse under his HO-3 homeowners policy?

    In the ISO 1991 HO-3 policy, collapse is an excluded cause of loss unless covered under Additional Coverage No. 8. This additional coverage applies only to collapse caused by the specific perils listed, which precludes coverage for collapse caused by excluded perils such as a flood, earthquake or latent defect in...

  8. Eligibility for HO-3; scheduled property | Ask PIA

    Our client is a woman who is divorced but continues to live in a house owned by her ex-husband. Can we write an HO-3 policy for her?

    The ISO rules do not permit you to write an HO-3 policy for someone who is not an owner/occupant, although there are exceptions for life estates, long-term contracts of sale and trusts. She would, of course, be eligible for an HO-4 policy.

  9. Row houses | Ask PIA

    We want to insure the owner of some row houses. Does the liability portion of an HO-4 policy cover a person who owns and occupies a one-, two-, three- or four-family house?

    There is nothing in the ISO HO-4 policy language itself that prohibits this form from being used for an owner-occupied dwelling. However, individual insurers may or may not have rules permitting this form to be written for this exposure. Check with your underwriter.

  10. HO-6 coverage for wall-to-wall carpet | Ask PIA

    We deal with a lot of condominium associations and HO-6 policies. We see more and more condo associations executing agreements that state they will not be responsible for wall-to-wall carpeting and, therefore, it will not be covered by the association’s property insurance policy. We thought the HO-6 would not cover...

    You can cover wall-to-wall carpeting under Coverage A—Dwelling of the ISO HO-6 policy. The manual rules for this form specify an automatic $5,000 limit for Coverage A, unless a higher limit is purchased. The only way to know what limit is adequate for property included under Coverage A is to...

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