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State Farm® Renters Policy

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State Farm® Renters Policy This policy is one of the broadest forms available today, and provides you with outstanding value for your in- surance dollars. However, we want to point out that every policy contains limitations and exclusions. Please read your policy carefully, especially “Losses Not Insured” and all exclusions. State Farm® Renters Policy Oklahoma H4-2136 RENTERS POLICY TABLE OF CONTENTS AGREEMENT ................................................................. 1 SECTION I – LOSS SETTLEMENT ............................. 15 DEFINITIONS ................................................................. 1 COVERAGE B – PERSONAL PROPERTY ............. 15 DEDUCTIBLE ................................................................. 5 B1 – Limited Replacement Cost Loss Settlement ........................................................ 15 SECTION I – PROPERTY COVERAGES ...................... 5 B2 – Depreciated Loss Settlement ................... 16 COVERAGE B – PERSONAL PROPERTY ............... 5 SECTION I – CONDITIONS .......................................... 16 Property Covered ............................................... 5 Insurable Interest and Limit of Liability ...................... 16 Special Limits of Liability .................................... 5 Your Duties After Loss .............................................. 16 Property Not Covered .......................................... 6 Loss to a Pair or Set ................................................. 17 COVERAGE C – LOSS OF USE ................................ 7 Appraisal ................................................................... 17 Additional Living Expense .................................. 7 Other Insurance ........................................................ 18 Fair Rental Value ................................................ 7 Suit Against Us ......................................................... 18 Prohibited Use ..................................................... 7 Our Option ................................................................ 18 Loss Payment ........................................................... 18 SECTION I – ADDITIONAL COVERAGES ................ 8 Abandonment of Property ......................................... 19 Debris Removal .................................................. 8 Glass Replacement ................................................... 19 Temporary Repairs ............................................. 8 No Benefit to Bailee .................................................. 19 Trees, Shrubs, and Landscaping ....................... 8 Recovered Property .................................................. 19 Building Additions and Alterations ...................... 8 Assignment of Claim ................................................. 19 Property Removed ............................................. 8 SECTION II – LIABILITY COVERAGES ...................... 19 Credit Card, Bank Fund Transfer Card, COVERAGE L – PERSONAL LIABILITY ................ 19 Forgery, and Counterfeit Money ......................... 8 COVERAGE M – MEDICAL PAYMENTS TO Power Interruption .............................................. 9 OTHERS ................................................................... 19 Refrigerated Products ........................................ 9 SECTION II – ADDITIONAL COVERAGES ............. 19 Arson Reward ..................................................... 9 Claim Expenses ................................................ 20 Volcanic Action ................................................... 9 First Aid Expenses ............................................ 20 Collapse ............................................................. 9 Damage to Property of Others .......................... 20 Locks and Remote Devices .............................. 10 SECTION II – EXCLUSIONS ........................................ 20 Fuel Oil Release ............................................... 10 SECTION II – CONDITIONS ......................................... 24 INFLATION COVERAGE ......................................... 11 Limit of Liability ......................................................... 24 SECTION I – LOSSES INSURED ................................ 11 Severability of Insurance ........................................... 24 COVERAGE B – PERSONAL PROPERTY ............. 11 Duties After Loss ....................................................... 24 SECTION I – LOSSES NOT INSURED ........................ 13 Coverage M Requirements ....................................... 25 ©, Copyright, State Farm Mutual Automobile Insurance Company, 2017 H4-2136 Payment of Claim – Coverage M or Damage Conformity to State Law ............................................ 27 to Property of Others ................................................ 25 Premium .................................................................... 27 Suit Against Us ......................................................... 25 Right to Inspect ......................................................... 28 Bankruptcy of an Insured .......................................... 25 Joint and Individual Interests .................................... 28 Other Insurance – Coverage L .................................. 25 Change of Policy Address ......................................... 28 SECTION I AND SECTION II – CONDITIONS ............. 25 Electronic Delivery .................................................... 28 Our Rights Regarding Claim Information .................. 28 Policy Period ............................................................. 25 Concealment or Fraud .............................................. 25 Duties Regarding Claim Information ......................... 29 Liberalization Clause ................................................. 25 OPTIONAL POLICY PROVISIONS .............................. 29 Waiver or Change of Policy Provisions ..................... 25 Option BP – Business Property ................................ 29 Cancellation .............................................................. 26 Option BU – Business Pursuits ................................. 29 Nonrenewal ............................................................... 26 Option FA – Firearms ................................................ 30 Assignment of Policy ................................................. 26 Option IO – Incidental Business ................................ 30 Subrogation and Reimbursement ............................. 26 Option JF – Jewelry and Furs ................................... 31 Death ........................................................................ 27 Option SG – Silverware and Goldware Theft ............ 31 ©, Copyright, State Farm Mutual Automobile Insurance Company, 2017 H4-2136 RENTERS POLICY AGREEMENT We agree to provide the insurance described in this policy: 3. we insure you on the basis your statements are true; and 1. based on your payment of premium, in a form ac- ceptable to us, for the coverages you chose; 4. this policy contains all of the agreements between you and us and any of our agents. 2. based on your compliance with all applicable provi- sions of this policy; and Unless otherwise indicated in the application, you state that during the five years preceding the time of your appli- 3. based on the information you have given us and cation for this insurance you have not had any losses, in- your statements in this agreement. sured or not. You agree, by acceptance of this policy, that: When you request changes to this policy, or the infor- mation or factors used to calculate the premium for this 1. you will pay premiums when due and comply with the policy changes during the policy period, we may adjust the provisions of this policy; premium in accordance with the change during the policy 2. the statements in this agreement are your state- period and you must pay any additional premium due ments and are true; within the time we specify. DEFINITIONS We define the following words and phrases for use e. any pre-loss damage including wear, tear, or de- throughout this policy. These definitions apply to the sin- terioration; gular, plural, and possessive forms of these words and of the damaged part of the property. phrases. Defined words and phrases are printed in bold 2. “bodily injury” means physical injury, sickness, or italics. disease to a person. This includes required care, 1. “actual cash value” means the value of the dam- loss of services, and death resulting therefrom. aged part of the property at the time of loss, calcu- Bodily injury does not include: lated as the estimated cost to repair or replace such a. any of the following which are communicable: property, less a deduction to account for pre-loss de- disease, bacteria, parasite, virus, or other or- preciation. For this calculation, all components of this ganism, any of which are transmitted by any in- estimated cost including, but not limited to: sured to any other person; a. materials, including any tax; b. the actual or alleged exposure to any such dis- ease, bacteria, parasite, virus, or other organism b. labor, including any tax; and by any insured to any other person; or c. overhead and profit; c. emotional distress, mental anguish, humiliation, are subject to depreciation. mental distress, mental injury, or any similar in- jury unless it arises out of actual physical injury The depreciation deduction may include such consid- to some person. erations as: 3. “building structure” means a structure fully en- a. age; closed with permanent walls and a roof. A permanent
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