Property Policy Terms

Property Policy Terms

Coverage provided is to protect listed items against fire, theft, windstorm, lightning, and water damage. Coverage limited to $5,000 for any single item that is not scheduled. This policy does not cover cash, bullion, documents, non-business personal property, jewelry, fine arts, and other items not specifically scheduled above. Only business property listed and directly related to your business operation is covered. Coverage is not afforded for the following perils: mysterious disappearance, wear and tear, abuse, earthquake, flood, war, terrorism, mold. Excludes wind and hail damage within 50 miles of the Eastern and Gulf coastlines and the entire state of Florida.

This Policy Insures Against: All risks of direct physical loss or damage from any external cause except as hereinafter provided. This Policy Does Not Insure Against:

  1. Loss or damage caused by wear and tear, gradual deterioration, depreciation, delay, loss of market or use. Any hidden or latent defect or any quality in the property that causes it to damage or destroy itself. Any unexplained disappearance or inventory shortage.
  2. Loss or damage from mechanical breakdown including corrosion, rust, dampness, cold or heat, or damage from insect, vermin, or rodents.
  3. Loss or damage caused by mechanical breakdown or loss resulting from electrical injury, electrical disturbance or short circuit.
  4. Loss or damage caused by theft or pilferage of the insured property while unattended or in any automobile, motorcycle, or trailer, unless the loss is the result of forcible entry either into such vehicle while all doors and windows thereof are closed and locked or into a fully enclosed and locked luggage compartment, of which entry there are visible marks upon the exterior of said vehicles.
  5. Misappropriation, secretion, conversion, infidelity or any dishonest or criminal acts on the part of the insured or other party of interest, his or their employees or agents, or others to whom the property may be entrusted. Voluntary parting with any property by you or anyone entrusted with the property if induced to do so by any fraudulent scheme, trick, device or false pretense.
  6. Loss or damage caused by or resulting from seizure or destruction of property by order of Government Authority. Any damage caused by any weapon employing atomic fission or fusion or nuclear reaction, radiation or radioactive contamination. Any damage from war including undeclared civil war, terrorism, insurrection, rebellion, revolution or usurped power or action taken by government authority.
  7. Flood or the inundation of normally dry land resulting from the overflow of inland or tidal waves or the rapid accumulation or runoff of surface waters. Flood does not mean: water which backs up through sewers or drains, pipe breakage, water below the surface of the ground or the release of water impounded by a dam.
  8. Does not cover cash or documents, personal property, mysterious disappearance, wear and tear, abuse, earthquake, flood, damage from use, damage from shipping or courier transport, acts of war, or theft by employees. Terrorism coverage is rejected and excluded. Other limitations may apply. Betterments and Improvements must be listed separately for coverage to apply.
  9. Excludes wind and hail damage within 50 miles of the Eastern and Gulf coastlines and the entire state of Florida.