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N Palomar PLMR BR 0001 <br />BUILDERS RISK COVERAGE FORM <br />Various provisions in this policy restrict coverage. Read the entire policy carefully to determine rights, duties and what is <br />and what is not covered. <br />Throughout this policy the words "you" and "your" refer to the Named Insured shown in the Declarations. The words <br />"we,,. "us" and "our" refer to the Company providing this insurance. <br />Other words and phrases that appear in quotation marks have special meaning. Refer to Section F. - DEFINITIONS in this <br />Coverage Form. <br />A. COVERAGE <br />We will pay for 'loss" to Covered Property from any of the Covered Causes of Loss. <br />Covered property means your property or the property of others for which you are liable, consisting of: <br />a. Buildings or structures as described in this Coverage Form Declarations while under construction, erection, <br />or fabrication, including the costs of foundations and underground property such as pipes, flues, drains, <br />electrical wires, piers, and pilings; and excavation, grading, and filling; if such costs are included in the <br />completed value of the project. <br />b. Materials, supplies, furniture and appliances, machinery, equipment and fixtures which will become a <br />permanent part of the buildings or structures at the project site described in this Coverage Form <br />Declarations. <br />c. Temporary buildings or structures at the project site described in this Coverage Form Declarations. <br />d. Scaffolding, construction forms, fences, and office trailers at the project site described in this Coverage Form <br />Declarations if such values are included in the completed value of the project; and <br />e. Temporary enclosure materials and associated installation labor if such values are included in the completed <br />value of the project. <br />f. "Useable Existing Structure(s)", but only when a Limit of Insurance appears in the Policy Declarations. <br />2. PROPERTY NOT COVERED <br />Covered Property does not include: <br />a. Machinery, tools, equipment, and other property not intended to become a permanent part of the project, <br />except as specified in A.1. above; <br />b. Trees, shrubs, sod, and plants. <br />But we do cover such property at the project site for 'loss" caused by or resulting from fire, lightning, <br />explosion, civil disturbance, riot, vehicles, aircraft, theft or vandalism if such values are included in the <br />completed value of the project. <br />c. Property while waterborne except on regularly scheduled ferries; <br />d. Contraband or property in the course of illegal transportation or trade; <br />e. Land (including land on which the property is located) or water: <br />f. Accounts, bills, currency, deeds, evidences of debt, money, notes or securities; or <br />g. Buildings or Structures that exist prior to any alteration, addition, improvement, renovation or repair, unless a <br />limit for "Useable Existing Structure(s)" is shown in the Declarations as described in A.1.f. above. <br />PLMR BR 0001 V20_03 page 11 <br />