Ford Insurance Agency, Inc.

ACTUAL CASH VALUE Your building and contents will be written on an actual cash value basis.  Any loss will be reimbursed based on the value of the item at the time of the loss, less depreciation.

AGREED VALUE This endorsement waives the co-insurance clause, thus eliminating any potential penalties for purchasing inadequate amounts of insurance. An agreed liability limit is the basis for monetary reimbursements and payments.

BASIC FORM CAUSE OF LOSS This coverage protects your building(s) and personal property or contents from loss caused by basic perils including fire, lightning, vandalism, sprinkler leakage, sinkhole collapse, volcanic action and other extended coverage perils.

BLANKET COVERAGE This coverage insures all property at a single amount. This eliminates having individual limits for each separate coverage that is written.

BRAND AND LABEL CLAUSE This endorsement will reimburse you for costs when damage occurs to your property and it must be stamped as salvage or voided, or when your labels must be removed from the property items due to damage.

BROAD FORM CAUSE OF LOSS This protects your building(s) and contents from causes of loss such as fire, lightning, sprinkler leakage, sinkhole collapse, vandalism and extended coverage perils, breakage of glass, falling objects, collapse due to snow, ice, water damage due to accidental leakage or discharge caused  by plumbing system and collapse of walls or roof.  Your business would be insured against these types of losses.

BUILDING ORDINANCE Provides coverage in the event the building is damaged or destroyed and the originally used materials are out dated or no longer in use.  The difference in cost for the upgraded replacement materials would be covered, as would cost of partial or complete demolition.

CO-INSURANCE CLAUSE Under the terms of this clause, we will insure your property at a co-insurance value equaling 80,90 or 100%.  This encourages you to purchase an adequate amount of coverage.

CONTRACTORS RIPPING & TEARING This insurance covers labor cost expenses related with the intentional destruction and/or removal of a product that has proven to be defective and must be replaced. The cost of restoring the existing foundation or structure to the same condition that existed before the defective product is discovered, will also be covered.

DEBRIS REMOVAL In the event of damage to your property, whereas debris cleanup is necessary, this coverage will pay for expenses up to a stated amount.

DEDUCTIBLE CLAUSE This gives you one deductible to pay per occurrence, regardless of the number of buildings or contents that were damaged.  This replaces the standard deductible which applies for each different location of  buildings or personal property.

DEMOLITION COST This coverage protects your business in the event demolition after a covered loss is necessary to prepare for the rebuilding of your property. This may be required if the remaining structure is deemed unsafe.

DIFFERENCE IN CONDITIONS This coverage provides complete protection against direct loss or damage to your real and personal property as a result of earthquake, flood, burglary, transit, etc.  It does not replace a property policy, but merely extends the perils which are insured. This policy can be custom designed to fit your own unique exposures.

EARTHQUAKE Damage caused by earth movement, whether by earthquake, landslide, volcanic eruption, and rising or shifting of land, is covered up to the stated policy limit with a  deductible.

FIRE DEPARTMENT SERVICE CHARGE In the event of fire  the service charge of a fire department (up to $1,000) will be paid by this endorsement, once the property limit of insurance has been exhausted.

FLOOD INSURANCE Damage caused by flood, high tides, waves or rising waters due to a storm, that results in damage to your building(s) or contents, is covered up to the policy imit.  Mud slide damage, when caused by these perils, is also included.

FUNCTIONAL REPLACEMENT VALUE Your building and contents will be written on functional replacement cost basis.  Any loss will be reimbursed based on the cost to replace it with similar property intended to perform the same function when replacement with identical property is not feasible or unnecessary.

FUNGI OR BACTERIA COVERAGE This form provideslimited bodily injury and property damage coverage against a fungi or bacteria incident.  This coverage does not cover a food product intended for consumption

GLASS COVERAGE This coverage provides payment in the event of loss or damage to glass and frame.  Also included is cost to remove obstructions which would prevent repair, lettering on glass surface and ornamentation.

INCREASED COST OF CONSTRUCTION While your policy is written on a replacement cost form, the materials which you are to replace may be outdated or no longer in use and newer, more expensive material may be required.  This coverage pays for the additional cost necessary to rebuild your property.

INFLATION GUARD This endorsement pays for automatic increases of insured amounts on a pro-rated basis throughout the policy year.  This protects your property that has a tendency to increase in value over a years time.

MANUFACTURERS OUTPUT This provides insurance protection against loss on an all risk basis, of your personal property when located outside of your premises location.

NAMED PERIL This policy is written to insure only those exposures which we have listed on the Named Peril Schedule below.  All other causes of loss are excluded.  This will keep your premium down to a minimum amount.

NEWLY ACQUIRED OR CONSTRUCTED PROPERTY This endorsement extends your building and property coverage to include newly acquired property for up to 30 days.  Insurance amounts equal 25% of the valueto a maximum limit not to exceed $250,000 for the building and  $100,000 for its contents.

OFF PREMISES PROPERTY Covers property other than stock for loss or damage due to an insured peril, when that property is temporarily at a location which you do not own, operate or lease.

OUTDOOR PROPERTY Covers property such as fences, radio and television antennas, unattached signs, trees, shrubs and plants, when damaged by an insured peril.  Payment is made up to $1000, but not to exceed $250 per any one tree, shrub, or plant.

PEAK SEASON This endorsement will provide additional coverage during peak business months, where the extra insurance is needed to cover increased exposure to loss.  This would eliminate having too much coverage during non-peak months or not enough during peak months.

POLLUTANT CLEAN UP AND REMOVAL This coverage pays your expenses to extract pollutants from land or water at the insured property, if the discharge, dispersal,seepage, migration, release or escape of the pollutants is caused by or results from a covered cause of loss.

PROPERTY OF OTHERS This coverage provides protection in the event the property of others, in which you hold for "care, custody, or control", is damaged by a covered peril.  A limit of $2,500 applies. Loss or damage by theft is not included.

RADIOACTIVE CONTAMINATION This coverage provides insurance in the event of sudden and accidental radioactive contamination which results in loss or damage to your property or contents.

REPLACEMENT COST Your building and contents will be written on a replacement cost basis which would replaceitems lost, due to an insured peril, with payment equal to today's purchase price of those items with no deduction for depreciation.

SELLING PRICE CLAUSE This endorsement would pay for loss or damage of your stock at the standard selling price, in the event of a insured peril. This insures merchandise for profits you would have realized had the peril not occurred.

SIGN COVERAGE This coverage insures your attached signs with limited protection. Broader coverage can be provided in an inland marine policy, but the additional coverage is not needed since the value of your signs is of an amount this property policy will cover.

SPECIAL FORM CAUSE OF LOSS This coverage protects your personal property or contents from loss caused byany direct peril, except those specifically excluded in the policy (i.e. earthquake, flood, wear and tear). This is one of the broadest types of coverages available.

STOCK REPORTING FORM This form allows you to have a variable amount of coverage from one month to the next, depending on the actual cash value of your stock / contents.  At the end of the year you will receive a refund or pay additional premium, based on your average amount of coverage over the length of the policy.

TENANTS IMPROVEMENTS AND BETTERMENTS This  provides protection of the modifications you have completed, affecting the value of your building.  This coverage is needed if you plan to partake in the remodeling of your premises.

VALUABLE PAPERS AND RECORDS This coverage pays for replacement, restoration or necessary research when acovered peril causes damage to your valuable papers and/or media.

WAIVER OF SUBROGATION This endorsement waives the right by another party to place claim for recovery of a loss, after reimbursing or having made prior payment to your firm for that loss.  This waiver protects your relationships with important clients or trade partners.