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The amounts of insurance stated in the following Total amount of loss payable: Additional Coverages apply in accordance with the $59,850 + $80,000 = $139,850 terms of such coverages and are separate from Example 2 the Limit(s) Of Insurance shown in the Declarations for any other coverage: (This example, too, assumes there is no Coinsurance penalty.) 1. Fire Department Service Charge; The Deductible and Limits of Insurance are the same 2. Pollutant Clean-up And Removal; as those in Example 1. 3. Increased Cost Of Construction; and Loss to Building 1: $70,000 4. Electronic Data. (Exceeds Limit of Insurance plus Deductible) Payments under the Preservation Of Property Additional Coverage will not increase the Loss to Building 2:$90,000 applicable Limit of Insurance. (Exceeds Limit of Insurance plus Deductible) D. Deductible Loss Payable –Building 1: $60,000 In any one occurrence of loss or damage (Limit of Insurance) (hereinafter referred to as loss), we will first reduce Loss Payable – Building 2: $80,000 the amount of loss if required by the Coinsurance (Limit of Insurance) Condition or the Agreed Value Optional Coverage. Total amount of loss payable: $140,000 If the adjusted amount of loss is less than or equal to the Deductible, we will not pay for that loss. If E. Loss Conditions the adjusted amount of loss exceeds the The following conditions apply in addition to the Deductible, we will then subtract the Deductible Common Policy Conditions and the Commercial from the adjusted amount of loss and will pay the Property Conditions: resulting amount or the Limit of Insurance, whichever is less. 1. Abandonment When the occurrence involves loss to more than There can be no abandonment of any property one item of Covered Property and separate Limits to us. of Insurance apply, the losses will not be 2. Appraisal combined in determining application of the If we and you disagree on the value of the Deductible. But the Deductible will be applied only property or the amount of loss, either may once per occurrence. make written demand for an appraisal of the Example 1 loss. In this event, each party will select a (This example assumes there is no Coinsurance competent and impartial appraiser. The two penalty.) appraisers will select an umpire. If they cannot agree, either may request that selection be Deductible: $250 made by a judge of a court having jurisdiction. The appraisers will state separately the value Limit of Insurance – Building 1: $60,000 of the property and amount of loss. If they fail Limit of Insurance – Building 2: $80,000 to agree, they will submit their differences to Loss to Building 1: $60,100 the umpire. A decision agreed to by any two Loss to Building 2: $90,000 will be binding. Each party will: a. Pay its chosen appraiser; and The amount of loss to Building 1 ($60,100) is less than the sum ($60,250) of the Limit of Insurance b. Bear the other expenses of the appraisal applicable to Building 1 plus the Deductible. and umpire equally. The Deductible will be subtracted from the amount of If there is an appraisal, we will still retain our loss in calculating the loss payable for Building 1: right to deny the claim. $ 60,100 3. Duties In The Event Of Loss Or Damage – 250 a. You must see that the following are done in the event of loss or damage to Covered $ 59,850 Loss Payable – Building 1 Property: The Deductible applies once per occurrence and (1) Notify the police if a law may have been therefore is not subtracted in determining the amount broken. of loss payable for Building 2. Loss payable for Building 2 is the Limit of Insurance of $80,000. Page 10 of 16 © Insurance Services Office, Inc.,2011 CP 00 10 10 12