What it does
Your Business Personal Property is normally insured as a single item with one limit, one coinsurance percentage and one Causes of Loss form for each location. CP 19 10 separates it. Different types of business personal property at a location can be scheduled individually, each with its own limit, coinsurance percentage and covered causes of loss. For example, stock could be insured on the Special form at 90% coinsurance, and machinery on a different basis with its own limit.
Why it is used
- To apply broader or narrower perils to particular property, such as basic perils on stock stored in the open and special perils on equipment.
- To set separate limits that reflect separate values or lender requirements.
- To match the coverage structure to how the insured tracks its assets.
Quoting and selling notes
- Separate items must each meet their own coinsurance requirement. Make sure each limit matches that category's value.
- Utility Services – Direct Damage (CP 04 17) and other endorsements refer to the limit "in the Separation of Coverage endorsement as applicable", so keep the schedules aligned.
- Forms lists show 06 95 as the current edition for all states.
