What it does
The base crime forms cover "other property" inside the premises only against robbery of a custodian or safe burglary (Insuring Agreement 4). CR 04 05 adds a broader theft agreement for other property inside the premises, so a sneak theft or burglary that is not robbery can be covered under the crime policy.
Who needs it
Businesses with valuable contents that are not well covered by their property policy for theft, such as offices with electronics, small retailers or businesses whose property form limits theft.
How it fits the policy
Optional insuring agreements like this one are not part of the base forms. When attached, the agreement and its limit and deductible are shown in the declarations under the insuring agreements added by endorsement, and the agreement is subject to the base form's general exclusions and conditions, including the discovery or loss sustained trigger of the form it is attached to. ISO's forms index lists the current edition for 52 jurisdictions.
Quoting and selling notes
- Coordinate with the property policy: many special-form property policies already cover theft, so the endorsement is often used where theft is excluded or sublimited.
- Ask about alarms and locks; CR 20 28 can add protective devices requirements.
- Employee theft of property is covered under Fidelity, not this agreement.
