Answer: The ISO CP 00 10 Building and Personal Property Coverage
form contains a coverage extension for personal property of others that is in the insured's care, custody, or control.
The building and personal property coverage
form CP 00 10 declares that the coverage for the direct physical loss of or damage to covered property exists only at the premises described in the declarations.
Building and personal property coverage form--The principal contract for insuring the building and business personal property exposures of commercial insureds.
The building and personal property coverage form--or CP policy--is the primary form used to insure commercial properties.
Westside is insured under an ISO Commercial Package Policy that includes the Building and Personal Property Coverage Form (CP 00 10) with these limits:
The lease doesn't require insurance, so the computer system doesn't meet the definition for YBPE The Personal Effects and Property of Others coverage extension in the Building and Personal Property Coverage Form will provide a little protection for such a situation, as follows:
The standard contract for insuring building and personal property exposures of commercial insureds is the Insurance Services Office (ISO) Building and Personal Property Coverage Form, CP 00 10, generally known as the commercial property policy.
The building and personal property coverage form is one building block in the ISO commercial property program.
The design features of the most common commercial property coverage forms are discussed in this chapter, beginning with the commercial building and personal property coverage
Discusses the coverages, exclusions, and conditions of most recent ISO Building and Personal Property Coverage
form, CP 0010 0607
While the CP 00 10 offers appropriate building and personal property coverage
, the policy may need to be customized for specific insureds; for example, retail operations may have different property insurance needs than manufacturing or service businesses.
In addition to the Building and Personal Property Coverage
Part, CP-12, AAIS offers: Builders Risk, CP-14 or CP-15; Condominium Buildings, CP-19; Condominium Unit Coverage, CP-21; Personal Property Coverage Part-Reporting form, CP-25; Earnings Coverage, CP-60; Extra Expense Coverage, CP-69; and Income Coverage, CP-70.