In reporting the loss to the insurer, the agent asserts the damaged HVAC unit is Tenants Improvements and Betterments (TI&B), attempting to get the loss covered under item A.1.b.(6) of the Your Business Personal Property provisions of the ISO CP 00 10 Building and Personal Property Coverage
Form attached to the policy.
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.
(Western) which provided, among other things, "building and personal property coverage
," and "business income (and extra expense) coverage." The building and personal property coverage
included claims for damages to additions to the leasehold, indoor and outdoor fixtures, permanently installed machinery and equipment, personal property such as floor coverings, and appliances used for refrigerating, ventilating, cooking, dishwashing, or laundering.
Building and personal property coverage
form--The principal contract for insuring the building and business personal property exposures of commercial insureds.
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 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 design features of the most common commercial property coverage forms are discussed in this chapter, beginning with the commercial building and personal property coverage
The Flood Coverage endorsement, CP 10 65, allows flood coverage to be endorsed to the building and personal property coverage
form and the standard property policy.
Buildings under construction are not eligible for coverage under the building and personal property coverage
form, which forms the basis for a commercial property policy.
As in the building and personal property coverage
form, the 2000 edition added a caveat to the hidden decay and insect damage causes.
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.