What it does
Same purpose as HO 04 91 but settles building losses at replacement cost.
Who needs it
Homeowners with valuable outbuildings on a separate parcel.
Quoting and selling notes
- Available only in states that adopted the 03 22 program; elsewhere use HO 04 91 (actual cash value).
- Structures used for a business or rented to others are still not covered; schedule them on a commercial or dwelling policy.
Editions and availability
Editions in use and where they apply: 03 22 (41 jurisdictions).
Section II changes affect umbrella placement. The ISO personal umbrella (DL 98 01) needs its own excess endorsements for business pursuits, home business, home day care and home-sharing exposures, so confirm the umbrella responds before relying on a homeowners endorsement for a business-type exposure.
