4-f PROTECTED - Buildingis located within 1,000 feet of an approved fire hydrant and is within 5 road miles of a

Transcription

1 PROTECTION : 4-f PROTECTED - Buildingis located within 1,000 feet of an approved fire hydrant and is within 5 road miles of a respondingfire department. 4-g SEM I-PROTECTED - Buildingis located more than 1,000 feet of an approved fire hydrant and is within 5 road miles of a respondingfire department. 4-h UNPROTECTED - All others. RESIDENCE REPLACEM ENT COST /ACTUAL CASH VALUE /ALTERNATIVE REPLACEM ENT COST /M ARKET VALUATION PROVISIONS: 4-i REPLACEM ENT COST - Replacement cost premiums are to be used when the residence is insured for at least 80% of the replacement cost, as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. Losses will be settled accordingto the replacement cost provision. 4-j ACTUAL CASH VALUE - The actual cash value premiums are to be used when the residence is insured for less than 80% of the replacement cost but not less than 50%, as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. Losses will be settled on an actual cash value basis includingdeduction for depreciation. NOTE :ML-13 may be added to actual cash value policies. 4-k ALTERNATIVE REPLACEM ENT COST PROVISIONS 4-k-1 M L A policy may be written with the alternative replacement cost form ML-256 provided the dwellingis insured to 50% of replacement value as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. See Optional Section I- Coverages & Endorsements. 4-k-2 M L-256 RC - A policy may be written with the alternative replacement cost form ML-256 RC, which changes the replacement cost requirement to 90%, provided the dwellingis insured to 100% of replacement value as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. See Optional Section I- Coverages & Endorsements. 4-l M ARKET VALUATION PROVISION - (M L-38 M VP) Market Valuation Provision form ML-38 MVP is available when the dwellingis insured for at least 30% of the replacement cost, as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. This Market Valuation Provision is only available if the dwelling replacement cost is at least $250,000. See Optional Section I- Coverages & Endorsements. 11/02 PAGE 7 8/12

2 5. OPTIONAL SECTION I- COVERAGES & ENDORSEM ENTS: 5-a ADDITIONAL LIVING EXPENSE - Enter total amount of coverage on policy face. Coverage in excess of the amount provided shall be charged at the premiums shown in the Premium Section of the manual. 5-b ALTERNATIVE REPLACEM ENT COST PROVISIONS 5-b-1 M L A policy may be written with the alternative replacement cost form ML-256 provided the dwellingis insured to 50% of replacement value as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. The surcharge can be found in the Premium Section of the manual. 5-b-2 M L-256 RC - A policy may be written with the alternative replacement cost form ML-256 RC, which changes the replacement cost requirement to 90%, provided the dwellingis insured to 100% of replacement value as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. The credit can be found in the Premium Section of the manual. 5-c AM ENDM ENT OF POLICY CONDITIONS - (M L-83) This form is a reinstatement of the original cancellation on notice of payment dishonor. 5-d AUXILIARY HEATING CHARGE (Solid Fuel) - For auxiliary heatingdevices that use solid fuel, the surcharge shown in the Premium Section of the manual may be applied. 5-e BOATS PHYSICAL DAM AGE (M R-51) Boats may be covered at the rates shown in the Premium Section of the manual. 5-f BUILDING ADDITIONS AND ALTERATIONS - (M L-51) Coverage in excess of the amount provided shall be charged at the premium shown in the Premium Section. 5-g CONDOM INIUM S AND SHARED OW NERSHIP HOUSING - (M L-15) This form is intended to offer choices of buildingorientated coverage under forms ML-2, ML-3 or ML-5 for condominium unit owners. 11/02 PAGE 8 8/12

3 5-y INFLATION GUARD COVERAGE - (M L-243) - [Notapplicable to M L-4] Amounts of insurance may be automatically increased for Coverages A, B, C and D on a quarterly basis. Refer to the charges shown in the Premium Section of the manual. 5-z LIM ITED THEFT COVERAGE AW AY FROM THE INSURED PREM ISES - (M L-186) (Zone 3-10 only) - Coverage for limited theft away from the insured premises may be added at the additional premium shown in the Premium Section of the manual. 5-aa M ARKET VALUATION PROVISION - (M L-38 M VP ) Market Valuation Provision form ML-38 MVP is available when the dwellingis insured for at least 30% of the replacement cost as determined by the current Marshall & Swift/Boeckh Replacement Cost Estimator. This Market Valuation Provision is only available if the dwelling replacement cost is at least $250,000. The surcharge can be found in the Premium Section of the manual. 5-ab M ECHANICAL,ELECTRICAL OR PRESSURE SYSTEM S BREAKDOW N (M L-346) Coverage for mechanical, electrical or pressure systems breakdown will be added to all policies at the premium shown in the Premium Section of the manual. Coverage can be removed at the request of the insured. 5-ac NEW HOM E /RENOVATION DISCOUNT - New home /renovation discounts are applied to qualified homes at the rate credits shown in the Premium Section of the manual. 5-ad ORDINANCE AND LAW - (M L-360) Coverage may be provided at the premium shown in the Premium Section of the manual. 11/02 PAGE 13 8/12

4 PREM IUM SECTION- OPTIONAL COVERAGES- ANNUAL PREM IUM S - PROPERTY COVERAGES MAXIMUM AMOUNT OF RATE PER ADD'L SECTION I INSURANCE AMOUNT AMOUNT Rule No. 5-a ADDITIONAL LIVING EXPENSE - 1,000 3 None (Coverage D) 5-b-1 ALTERNATIVE REPLACEMENT COST PROVISIONS 50% (ML-256 ) 5-b-2 ALTERNATIVE REPLACEMENT COST PROVISIONS 90% (ML-256 RC ) additional 10% of the ACV premium 7% credit to Replacement Cost premium 5-d AUXILIARY HEATING CHARGE (Solid Fuel) 10% 5-e BOATS PHYSICAL DAMAGE (MR-51) ($50. Minimum Premium per Policy) Surcharge Credit Outboard 10% Sailboats 10% Deductible Surcharge Credit $ % % 1,000 15% Age Factor Surcharge Credit 1 5 Years 15% 6 10 Years 10% Years 5% Years Years 15% Other Credits Credit BoatingEducation (USCGA or Power Squadron) 10% Built in CO2 or Halon Fire ExtinguishingSystem 5% Vapor Detector 2% Ship to Shore Radio (Not CB) 3% Loran C or Depth Sounder 2% Diesel Powered Boats 5% 8 Month Operational Period 15% Maximum Other Credits 25% 11/02 PAGE 59 8/12

5 MAXIMUM AMOUNT OF RATE PER ADD'L SECTION I INSURANCE AMOUNT AMOUNT 5-y INFLATION GUARD - (ML-243) Amount Of Quarterly Surcharge Increase % % % % % % % Each Add'l Add'l.5 Surcharge 1.3% 5-z LIMITED THEFT COVERAGE - (ML-186) (Zones 3-10 only) Increase basic premium 15% 5-aa MARKET VALUATION PROVISION (ML-38 MVP ) Surcharge ACV premium 35% 5-ab MECHANICAL, ELECTRICAL OR PRESSURE SYSTEMS BREAKDOW N (ML-346) $15 per policy 5-ac NEW HOME / RENOVATION DISCOUNT The followingdiscounts are applied to qualified new homes. These credits apply to the basic policy premium and shall apply at the time each new policy or renewal policy is issued. Age of home equals year of policy effective date minus year built. NEW HOME AGE CREDIT 0 10 years 25% years 15% years 10% RENOVATOR CREDIT 5% (Must complete the Renovation W arranty.) 5-ad ORDINANCE AND LAW (ML-360) 10% of Coverage A & B premium 11/02 PAGE 65 8/12