business owners policy - bigelearn.bankersinsurance.com/media/default/guidelines... · 2019. 2....
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Enjoy your community... knowing it’s fully covered by Bankers Insurance.
Customer Service 800.627.0000 x4900 | bankersinsurance.com
What’s Covered
• Liability
• Pools, Tennis Courts, Ponds, Docks
• Buildings
• Directors and Officers
Bankers Homeowners Association Program Your homeowners association needs a comprehensive insurance policy to protect itself from a range of casualty losses. First Community Insurance Company offers a Business Owners Program for HOAs providing property and liability coverage.
Excess Liability Limits available up to $6,000,000 per occurrence, $12,000,000 aggregate.
Business Owners Policy
Homeowners Associations
BIG
1162
8 0
617
Examples of Comprehensive Coverage at No Additional Cost
The “Open for Business” online disaster recovery guide, designed by the Insurance Institute for Business and Home Safety, is included with your Homeowners Association Business Owners Policy.
Our complete online system makes writing easy:• Process from quote to application• View existing policy information, including
payment and policy status
• Submit and view endorsements and cancellations,keep signed documents
• Quote new business up to 60 days out
• Report insured claims, receive claim number instantly
• Access underwriter directly
• Generate individual or agency loss run reports• Use convenient payment plans with American
Express, Visa, MasterCard and Discover
Coverage Feature Limits
Accounts Receivable $25,000 at premises/$5,000 off premises
Additional Insured Lessor of Leased Equipment
Included
Automatic Increase in Insurance- Building
At renewal, the limit of insurance will automatically increase by 8%
Business Income and Extra Expense
A $10,000 limit of insurance and 6 month time period for Homeowner Associations
Business Income from Dependent Properties
$5,000
Business Income (Extended) -Extended Period of Indemnity
A $5,000 limit of insurance and 30-day time period
Business Personal Property Within 1,000 feet of premises
Business Personal Property -Seasonal Increase
The policy limit on business personal property will auto-matically increase by 25% to provide for seasonal variations
Damage to Premises Rented To You
$300,000
Debris Removal - Increased Limits
25% of the loss, up to a maximum of $25,000
Electronic Data Additional Coverage
$10,000
Employee Dishonesty $10,000
Equipment Breakdown Up to $99,999
Fine Arts $50,000, $500 per item limit (without an appraisal)
Fire Department Service Charge $25,000
Fire Extinguisher Systems Recharge Expense
$5,000
Forgery and Alteration $10,000
Fungi or Bacteria Coverage - Property
$15,000
Glass Coverage Included (part of the building limit for the building owner and part of the contents limit for the tenant)
Increased Cost of Construction $10,000
Coverage Feature Limits
Interruption of Computer Operations
$10,000
Inventory or Appraisals $5,000
Lock and Key Replacement $5,000
Medical Payments $5,000
Money and Securities $10,000 Inside/$2,500 Outside
Money Orders and Counterfeit Paper
$5,000
Newly Acquired Property Coverage Extension
Buildings at $500,000 Contents at $250,000Coverage period is 180 days
On Premises Swimming Pool - Property
$20,000
Outdoor Property $10,000 but not more than $2,500 for fences or walls; $1,000 for any one tree, shrub, or plant; $1,000 for antennae and satellites; $5,000 for signs (unattached)
Patterns $5,000
Personal Eff ects $5,000 personal eff ects, maximum of $1,000 any one employee
Personal Property Off Premises (Including Transit)
$25,000
Pollutant Clean Up and Removal
$10,000
Property Damage Liability - Borrowed Equipment
$10,000
Arson Reward Coverage $10,000
Signs - Attached $5,000
Spoilage Coverage $5,000
Supplementary Payments Includes the cost of bail bonds, attorney fees, loss of earnings up to $250 a day
Valuable Papers and Records $25,000 at premises/$5,000 off premises
Wind and Hail - Added as Covered Causes of Loss for Outdoor Property
Included