Does basic form include theft?

Basic form covers these 11 “perils” or causes of loss: Fire or Lightning, Smoke, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking the property), Vehicles (striking the property), Glass Breakage, Vandalism & Malicious Mischief, Theft, and Volcanic Eruption.

Which of the following is excluded in the basic cause of loss form?

Absent any specific underwriting restrictions, basic form cause of loss covers the following perils: fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse, volcanic action.

What is the difference between basic and broad form coverage?

A basic form policy that typically covers fire, explosions, storms, smoke, riots, vandalism, and sprinkler leaks. A broad form policy that adds more coverage, such as damage from broken windows and other structural glass, falling objects, and water damage.

What are the basic perils?

The basic causes of loss form (CP 10 10) provides coverage for the following named perils: fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action.

What does basic form mean?

Noun. basic form (plural basic forms) The uninflected form of a word used as a dictionary entry.

Does basic cause of loss include theft?

Basic form covers these 11 “perils” or causes of loss: Fire or Lightning, Smoke, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking the property), Vehicles (striking the property), Glass Breakage, Vandalism & Malicious Mischief, Theft, and Volcanic Eruption.

What is covered under basic form?

Basic Form – covers your property against fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, volcanic action.

Which two perils are not covered under a standard homeowners insurance policy?

Standard homeowners insurance policies typically do not include coverage for valuable jewelry, artwork, other collectibles, identity theft protection, or damage caused by an earthquake or a flood.

Does basic form cover water damage?

Broad Form policies are more extensive in coverage as they include all the perils of the Basic Form plus: Weight of Snow, Ice, or Sleet. Water Damage. Falling Objects.

Which situation would not be covered by the basic causes of loss form under a commercial property policy?

The Basic Cause of Loss Form does not cover collapse. The Broad and Special Forms for all property policies covers collapse as an additional coverage.

Which of the following would be covered under a basic commercial property coverage form?

The Basic Form provides coverage for the following causes of loss (perils): fire, lightning, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action. You just studied 45 terms!

Which of the following property may not be covered under a building and personal property coverage form?

Building coverage may insure items that are permanently attached to the building itself, while personal property coverage includes property that is not part of the building. Building and personal property coverage exclude land, water, plants, roadways, crops, shrubs, money, accounts, instruments, or trees.