1. Forms
  2. CP
  3. CP-14-15

What it does

CP 14 15 is a short scheduling endorsement for the Building and Personal Property and Condominium Association coverage forms and the Standard Property Policy. It does two things:

  • Property described in its Schedule or in the Declarations is added to Building.
  • That property is removed from Your Business Personal Property, so it is not insured twice.

Why it is used

Some items do not clearly fit either definition, or the owner wants them under the building limit, valuation and deductible. Examples include swimming pools at a hotel, process equipment the owner wants treated as part of the building, and items a lease requires the landlord to insure as building. The 07 88 edition remains in use, and court-filed policies show it scheduling items such as swimming pools.

Quoting and selling notes

  • Include the added property's value in the building limit to avoid a coinsurance shortfall.
  • Do not use it to cover items on the Property Not Covered list, such as paved surfaces or underground pipes. That is the job of CP 14 10, Additional Covered Property.