What it does

CP 00 10 contains many small built-in amounts, such as the $1,000 fire department service charge, $10,000 pollutant clean-up, $2,500 valuable papers, $10,000 property off-premises, $1,000 outdoor property and $2,500 per outdoor sign. CP 04 08 lets the insurer schedule a Revised Amount of Insurance for any of them. For each line, the Schedule names the premises and building, the coverage form, the coverage being increased, the revised amount, and any additional premium.

Key provisions

• The revised amount replaces the policy amount for that coverage.
• All limitations and provisions tied to the original amount continue to apply to the higher amount. For example, an annual aggregate on pollutant clean-up remains an annual aggregate.
• The endorsement works for any additional coverage or extension the carrier agrees to increase.

Quoting and selling notes

• Review each built-in sublimit against the client's operations. Common needs include valuable papers for professional firms, off-premises property for contractors and salespeople, outdoor property for landscaped sites, fire department charges where municipalities bill for response, and debris removal for large buildings.
• Many carriers sell these increases bundled in proprietary "property extension" endorsements. CP 04 08 is the ISO way to do it item by item.