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Standard Homeowners Policy Sample 2016

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Standard Homeowners Policy Sample 2016 CALIFORNIA EARTHQUAKE AUTHORITY BASIC EARTHQUAKE POLICY—HOMEOWNERS DECLARATIONS POLICY NUMBER: POLICY PERIOD: 12:01a.m. Pacific Time FROM: TO: NAMED INSURED AND MAILING ADDRESS: The dwelling covered by this policy is located at the above address unless otherwise stated: We provide coverage at the indicated limits of insurance, subject to the Deductible Clause: COVERAGE: LIMIT OF INSURANCE: A. DWELLING Combined Single Limit: B. EXTENSIONS TO DWELLING $ Same as Companion Coverage A Limit C. PERSONAL PROPERTY $5,000 to $200,000 D. LOSS OF USE $1,500 to $100,000 OTHER COVERAGES: BUILDING CODE UPGRADES $10,000 to $30,000 POLICY DEDUCTIBLE: $__________________ (5% to 25% OF THE “COVERAGE A: DWELLING” AND “COVERAGE B: EXTENSIONS TO DWELLING” COMBINED SINGLE LIMIT OF INSURANCE) (Note: Please read the DEDUCTIBLE CLAUSE of this policy.) POLICY PREMIUM: $ POLICY MODIFICATIONS REQUESTED BY YOU Your Policy Premium reflects a Hazard Reduction Discount of ___% (5%, 10%, or 20% or 23% (Mobilehome)) Endorsement 03A – Coverage for Exterior Masonry Veneer Endorsement 04A – Coverage for Breakables NOTE: THIS POLICY MAY BE SURCHARGED (Please read the Surcharge Clause of this policy) Mortgagee/Lienholder/Additional Insured (Name and Address): PLEASE READ YOUR POLICY BEQ-3B (01-2016 edition) Page 1 of 25 TABLE OF CONTENTS IMPORTANT NOTICES ................................................................................................................................................... 3 AGREEMENT .................................................................................................................................................................... 5 DEDUCTIBLE CLAUSE ................................................................................................................................................... 5 DEFINITIONS.................................................................................................................................................................... 6 SINGLE LIMIT OF INSURANCE FOR DWELLING AND EXTENSIONS TO DWELLING; OTHER LIMITS AND SUBLIMITS .................................................................................................................................. 9 COVERAGES .................................................................................................................................................................... 9 COVERAGE A: DWELLING .................................................................................................................................... 9 Property Covered–Coverage A ........................................................................................................................... 9 Special Limits of Insurance–Coverage A ............................................................................................................ 9 COVERAGE B: EXTENSIONS TO DWELLING ..................................................................................................... 10 Property Covered–Coverage B ............................................................................................................................ 10 COVERAGE A: DWELLING AND COVERAGE B: EXTENSIONS TO DWELLING Property Not Covered–Coverage A and Coverage B .............................................................................................. 11 COVERAGE C: PERSONAL PROPERTY ............................................................................................................... 12 Property Covered–Coverage C ............................................................................................................................ 12 Special Limits of Insurance–Coverage C ............................................................................................................ 13 Property Not Covered–Coverage C ..................................................................................................................... 14 COVERAGE D: LOSS OF USE ................................................................................................................................. 15 OTHER COVERAGES .............................................................................................................................................. 15 1. Emergency Repairs ........................................................................................................................................ 15 2. Debris Removal .............................................................................................................................................. 15 3. Building Code Upgrades ................................................................................................................................ 15 4. Land ............................................................................................................................................................... 15 5. Energy Efficiency and Environmental Safety Replacement Upgrades .......................................................... 16 LOSSES EXCLUDED........................................................................................................................................................ 17 YOUR RIGHTS CONCERNING CLAIMS INVESTIGATION ........................................................................................ 18 CONDITIONS .................................................................................................................................................................... 19 1. Insurable Interest and Limit of Insurance............................................................................................................. 19 2. Concealment or Fraud ........................................................................................................................................... 19 3. Your Duties After Loss ......................................................................................................................................... 20 4. Loss Settlement: Coverages A, B and C ............................................................................................................. 20 5. Loss Settlement: Coverages A and B .................................................................................................................. 20 6. Loss Settlement: Coverage C .............................................................................................................................. 20 7. Appraisal .............................................................................................................................................................. 21 8. Other Insurance .................................................................................................................................................... 21 9. Subrogation .......................................................................................................................................................... 21 10. Legal Action......................................................................................................................................................... 21 11. Our Option to Repair or Replace Property ........................................................................................................... 21 12. Loss Adjustment .................................................................................................................................................. 21 13. Loss Payment ....................................................................................................................................................... 22 14. Mortgagee Clause ................................................................................................................................................ 22 15. No Benefit to Bailee ............................................................................................................................................. 21 16. Payment ............................................................................................................................................................... 23 17. Automatic Termination ........................................................................................................................................ 23 18. Cancellation ......................................................................................................................................................... 23 19. Conditional Reinstatement ................................................................................................................................... 24 20. Non-Renewal ....................................................................................................................................................... 24 21. Waiver or Change of Policy Provisions ............................................................................................................... 24 22. Assignment .......................................................................................................................................................... 24 23. Death .................................................................................................................................................................... 24 24. Recovered Property .............................................................................................................................................. 24 25. Abandonment
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