JPW COMMUNICATIONS, INC. - Laserfiche WebLink

Home Browse Search

direct physical loss of or damage to your landlord's personal property located inside of a building on the described premises and in your care, custody or control for which you have a written contractual responsibility to insure. The loss or damage must be the result of or caused by a Covered Cause of Loss. (3) Regardless of the number of buildings where the landlord's personal property is located, the most we will pay per insured location under this Additional Coverage in any one occurrence is $25,000. 6. Coverage Extensions Except as otherwise provided, the following extensions apply to property located in or on the building described in the Declarations or in the open (or in a vehicle) within 1,000 feet of the described premises: a. Newly Acquired Property (1) Buildings or Constructed If your policy covers Buildings, you may extend the insurance provided under Building to apply to direct physical loss or damage when such loss or damage is caused by a Covered Cause of Loss to: (a) Your new buildings while being built on the described premises; and (b) Buildings you acquire at premises other than the one described, intended for: (i) Similar use as the building described in the Declarations; or (ii) Used as a warehouse. (c) The most we will pay for loss or damage under this Extension for Newly Acquired or Constructed Buildings is $1,000,000 at each building. (2) Business Personal Property (a) If your policy covers Business Personal Property, you may extend the insurance provided under Business Personal Property to apply to direct physical loss or damage when such loss or damage is caused by a Covered Cause of Loss to: (1) Business Personal Property, including such property that you newly acquire, at any location you acquire; or (II) Business Personal Property, including such property that you newly acquire, located at your newly constructed or acquired buildings at the location described in the Declarations. (III) Business Personal Property that you newly acquire, located at the described premises. (b) This Extension does not apply to: (1) Personal property of others that is temporarily in your possession in the course of installing or performing work on such property; or (ii) Personal property of others that is temporarily in your possession in the course of your manufacturing or wholesaling activities. (c) This insurance may not be used to increase your Business Personal Property Limit. It does not apply to personal property you acquire as part of your usual customary business dealings whether or not such acquisition was related to anticipated seasonal demands. Under the terms of this Coverage Form, such property is not considered newly acquired, but falls within the provisions for Business Personal Property. (d) The most we will pay for loss or damage under this Extension is $500,000 at each premises. (3) Business Income and Extra Expense You may extend the insurance that applies to Business Income and Extra Expense to apply to property at any location you acquire. The most we will pay for loss or damage under this Extension is $250,000 at each premise. (4) Period of Coverage With respect to insurance provided under this Coverage Extension for Newly Acquired or Constructed 391-1003 08 16 Includes copyrighted material of Insurance Services Office, Inc., with its permission. Page 35 of 81