What it does
Schedules parties with a financial interest in covered business property and sets how losses are paid to them.
Who needs it
Home businesses with financed or leased equipment.
Quoting and selling notes
- Commercial counterpart is CP 12 18.
- Get the lender's exact name and address from the finance agreement before issuing.
Editions and availability
Editions in use and where they apply: 03 22 (40 jurisdictions); 05 11 (8 jurisdictions: AL, CA, CT, GA, HI, NC, TX, VI).
A homeowners policy is not built for commercial exposures. Workers compensation for employees, business auto, professional liability and larger product or premises exposures need commercial policies; use homeowners endorsements only for incidental activity and move growing businesses to a BOP or CGL program.
