Bamboo: Optional Coverages and Limits

What are the optional coverages and limits offered by Bamboo Insurance?

EXTENDED REPLACEMENT COST COVERAGE FOR DWELLING (COVERAGE A)

The policy may be endorsed to provide additional insurance for Coverage A when loss, to the dwelling building, exceeds the limit of liability shown on the policy. An additional coverage amount equal to 125% or 150% of the Coverage A limit will be provided for loss payments above the stated limits for the following charge:

 

Coverage Amount	Premium Adjustment
125%	5%
150%	8%

NOTE: This coverage is included when the Premier Package is purchased (125% limit). Fireline scores 2 and 3 may not be eligible for 150% replacement cost, subject to underwriting review.

ATTACH:

• Endorsement 125ERC, Extended Replacement Cost Coverage – 125%
• Endorsement 150ERC, Extended Replacement Cost Coverage – 150%

INCREASED OTHER STRUCTURES (COVERAGE B)

The policy provides a limit of liability for Other Structures (Coverage B) equal to 10% of Coverage A. The Coverage B amount for other structures can be increased (up to a maximum of 70% of Coverage A) for the following additional premium:

Premium per $1000: $250

INCREASED LOSS OF USE (COVERAGE D)

The policy provides a limit of liability for Loss of Use (Coverage D) equal to 20% of Coverage A. The Coverage D amount can be increased (up to a maximum of 40% of Coverage A) for the following additional premium.

Premium per $1000: $500

UNSCHEDULED PERSONAL PROPERTY (COVERAGE C) - ACV

To reduce personal property coverage to Actual Cash Value (ACV) from replacement cost, reduce the basic premium by 5%. REMOVE: Endorsement RCVPP, Replacement Cost Coverage for Personal Property

INCREASED UNSCHEDULED PERSONAL PROPERTY (COVERAGE C)

The policy provides a limit of liability for personal property (Coverage C) equal to 50% of Coverage A. The Coverage C amount for personal property can be increased (up to a maximum of 80% of Coverage A) for the following additional premium:

Premium per $1000: $100

INCREASED UNSCHEDULED JEWELRY & SILVERWARE

The policy includes:

• $5,000 sub-limit for theft of jewelry, watches, furs, and precious and semi-precious stones; and
• $5,000 sub-limit for theft of silverware, silver-plated ware, goldware, gold-plated ware and

For an additional charge of $80, these limits, found in Section I – Coverage C – Special Limits of Liability items 5 and 7 of the policy, can be increased to $10,000 for unscheduled jewelry, and $10,000 for unscheduled silverware.

When increased special limits for Jewelry and Silverware are purchased, the policy Declarations page will show that these limits have been enhanced. However, these new limits do not increase the Coverage C limit of the policy.

ATTACH: Endorsement INCUJS, Increased Unscheduled Jewelry and Silverware Limits

MEDICAL PAYMENTS TO OTHERS

$1,000 in Medical Payments to Others coverage is included in the liability portion (Section 2) of the HO-3 policy. For an additional charge, the coverage can be increased.

Limit	Premium
$1,000	Included
$2,000	$3
$3,000	$5
$4,000	$7
$5,000	$9

 

INCREASED UNSCHEDULED PROPERTY USED IN BUSINESS (ON-PREMISES)

The policy includes a sub-limit of $5,000 for loss of Business Property. For an additional charge of $25, this limit, found in Section I – Coverage C – Special Limits of Liability item 8 can be increased to $7,500.

When increased special limits for Business Property are purchased, the policy Declarations page will show that this limit has been enhanced. However, this new limit does not increase the Coverage C limit of the policy.

ATTACH: Endorsement IUPUB, Increased Unscheduled Property Used in Business (On-Premises)

PERSONAL LIABILITY LIMITS

The basic policy provides $100,000 Personal Liability limits. Higher limits are available for the following additional premium amounts:

Limit	Premium
$100,000	Included
$200,000	$15
$300,000	$25
$500,000	$40

NOTE: Personal Liability Limit of $300,000 is included when the Premier Package is purchased.

OPTIONAL ANIMAL LIABILITY LIMITS FOR ACCEPTABLE ANIMALS

Animal liability coverage is excluded from all policies. However, optional Limited Animal Liability coverage can be purchased, as indicated in the table below. See Endorsement ANMLIB for coverage details and limitations.

Limit	Premium
$100,000	$13
$200,000	$18
$300,000	$26
$500,000	$37

NOTE: Selected limit must match Personal Liability Limit

ATTACH Endorsement ANMLIB, Limited Animal Liability Coverage. The selected limit will appear on the policy declarations page.

OPTIONAL PERSONAL INJURY COVERAGE

Personal Injury Coverage is available for the following additional premium amounts:

 

Limit	Premium
$100,000	$15
$200,000	$20
$300,000	$30
$500,000	$40

NOTE: Selected limit must match Personal Liability Limit ATTACH: Endorsement PERINJ, Personal Injury Coverage

OTHER INSURED LOCATION OCCUPIED BY INSURED – COVERAGE E

Coverage E (Personal Liability) can be extended to another location occupied by the Named Insured, for the following additional premium:

Limit per Occurrence	Premium
$100,000	$8
$200,000	$9
$300,000	$10
$500,000	$12

NOTE: Selected limit must match Personal Liability Limit

ENHANCED MORTGAGEE CLAUSE – 438BFU

The enhanced mortgagee clause can be attached to the policy for a $10.00 premium charge. ATTACH: Endorsement 438BFU, Lender’s Loss Payable Endorsement

EARTHQUAKE

The Company does not offer Earthquake insurance.

OPTIONAL LIMITED SEWER OR DRAIN BACKUP COVERAGE

All policies exclude coverage for water that backs up through a sewer or drain. This coverage can be added with a limit of $2,500, $5,000, or $10,000 for the charge indicated below. This coverage cannot be purchased when Inland Flood is purchased with Water/Sewer Backup (See 16.25).

Sewer or Drain Backup Limit	Premium
$2,500	$50
$5,000	$85
$10,000	$115

NOTE: $2,500 Optional Limited Sewer or Drain Backup Limit is included when the Premier Package is purchased. ATTACH: Endorsement LIMSDB, Limited Sewer or Drain Backup Coverage

ORDINANCE OR LAW COVERAGE (COVERAGE A)

All policy forms include 10% Ordinance or Law Coverage. This percentage of coverage can be increased to 25% or 50% by payment of the following:

Coverage Amount	Premium Adjustment
25%	4%
50%	6%

This provides coverage for loss for damage by a covered peril insured against the insured dwelling and will be settled on the basis of any ordinance or law that regulates the construction, repair, or demolition of this property.

EQUIPMENT BREAKDOWN COVERAGE

For an additional charge of $55, Equipment Breakdown Coverage can be added to the policy.

The Equipment Breakdown component provides homeowners with Equipment Breakdown coverage in their Homeowners insurance policy, which is otherwise excluded. Examples of the type of equipment that could suffer a breakdown and will be covered by this incorporation include:

• Back-up power generators
• Boilers and hot water heaters
• Central air conditioners
• Deep well pumps
• Furnaces, heat pumps, and heaters
• Home security systems & control panels
• Solar heaters
• Vacuum systems
• Desktop and laptop computers
• Exercise equipment
• Home medical equipment
• Televisions and home entertainment equipment

This coverage will include all equipment that is Covered Property under Coverage A, B, and C of the Homeowner policy, with the exception of riding mowers and tractors.

A $500 Deductible for Equipment Breakdown coverage will apply to each loss. ATTACH: Endorsement EBC, Equipment Breakdown Coverage

INCREASED LOSS ASSESSMENT COVERAGE

Under Sections I and II, Additional Coverages, the policy provides a limit of $1,000 in coverage for any loss assessment charged during the policy period. This limit can be increased up to a maximum of $15,000 for the following additional premium:

Premium per $1000: $500

SERVICE LINE COVERAGE

For an additional charge of $65, Service Line Coverage can be added to the policy.

The Service Line component provides payment for loss or damages resulting from a service line failure. A service line constitutes underground piping and wiring that is located at the insured location and produces a service, such as delivering water or power to the building or other structure from a utility or private water supply.

Coverage applies to the insured-owned exterior and underground:

• Water piping that connects the building to a public water supply or private well
• Sewer piping that connects the building to a public sewer system or private septic system
• Power lines that provide electrical service to the building or other structure
• Piping that connects to a heat pump

A $500 Deductible for Service Line coverage will apply to each loss. ATTACH: Endorsement SLC, Service Line Coverage