What it does
CP 10 20 includes all eleven perils of the Basic form (CP 10 10): fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse and volcanic action. It adds:
- Falling Objects, with limits on personal property in the open and interior damage unless the roof or wall is first damaged.
- Weight of Snow, Ice or Sleet.
- Water Damage, meaning accidental discharge or leakage of water or steam from a system or appliance, subject to stated exceptions.
- An Additional Coverage – Collapse for abrupt collapse caused by specified conditions such as decay hidden from view or defective construction methods during construction.
Key provisions
- The same core exclusions as the Basic form apply: ordinance or law, earth movement, governmental action, nuclear hazard, utility services, war, water (flood, surface water, sewer backup), and fungus. Special exclusions apply to business income and legal liability coverage.
- Limited fungus, wet rot, dry rot and bacteria coverage applies when the cause is a covered peril.
- Theft is still not a covered peril.
Quoting and selling notes
The Broad form is less common in today's market. Most insureds who want more than basic perils move to the Special form (CP 10 30), which covers theft and open perils. Explain that the Broad form still requires the loss to come from a named peril.
