Laserfiche WebLink
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. <br />THE <br />HARTFORD <br />Property that has sustained loss or damage, plus the amount listed in the Declarations under Debris <br />Removal — Additional Limit. <br />(5) Examples <br />Example 1 <br />Limit of Insurance <br />Amount of Deductible <br />Amount of Loss <br />Amount of Loss Payable <br />Debris Removal Expense <br />Debris Removal Expense Payable <br />$ 90,000 <br />$ 500 <br />$ 50,000 <br />$ 49,500 <br />($50,000 — $500) <br />$ 10,000 <br />$ 10,000 <br />($10,000 is 20% of $50,000) <br />The debris removal expense is less than 25% of the sum of the loss payable plus the Deductible. The <br />sum of the loss payable and the debris removal expense ($49,500 + $10,000 = $59,500) is less than the <br />Limit of Insurance. Therefore, the full amount of debris removal expense is payable in accordance with <br />the terms of Paragraph (3). <br />Example 2 <br />Limit of Insurance <br />$ 90,000 <br />Amount of Deductible <br />$ 500 <br />Amount of Loss <br />$ 80,000 <br />Amount of Loss Payable <br />$ 79,500 <br />($80,000 — $500) <br />Debris Removal Expense <br />$ 40,000 <br />Debris Removal Expense Payable <br />Basic Amount <br />$ 10,500 <br />Additional Limit <br />$ 25,000 <br />The basic amount payable for debris removal expense under the terms of Paragraph (3) is calculated as <br />follows: $80,000 ($79,500 + $500) x .25 = $20,000; capped at $10,500. The cap applies because the sum <br />of the loss payable ($79,500) and the basic amount payable for debris removal expense ($10,500) cannot <br />exceed the Limit of Insurance ($90,000). <br />The additional amount payable for debris removal expense is provided in accordance with the terms of <br />Paragraph (4), because the debris removal expense ($40,000) exceeds 25% of the loss payable plus the <br />Deductible ($40,000 is 50% of $80,000), and because the sum of the loss payable and debris removal <br />expense ($79,500 + $40,000 = $119,500) would exceed the Limit of Insurance ($90,000). In this example, <br />the Debris Removal — Additional Limit shown in the Declarations is $25,000. Thus, the total payable for <br />debris removal expense in this example is $35,500; $4,500 of the debris removal expense is not covered. <br />eGF �D <br />Form SP 30 01 10 18 ��/ 1°x REVIEWED & APPROVED BY.- <br />© 2018, The Hartford <br />(May include copyrighted material of Insurance Services Office, Inc., with its 1— --WR r skPjanagementAnalpt <br />