SPECIAL PROPERTY
General Instructions
The Special Property Endorsement offers coverage for special classes of property. This section contains the rules, classifications and premiums for the writing of this endorsement.
Rule I Eligibility
1.1 To be eligible for special property coverage the insured must have a supporting basic policy.
1.2 A detailed description of the property to be insured must accompany the request, including the serial number (s), model number (s), other specific identification, and drivers license numbers for operators of snowmobiles, boats, recreational vehicles and jet-skis.
1.3 When requested coverage on antiques, fine arts, and jewelry exceeds $1,000.00, an appraisal must accompany the request. One item or a number of items are acceptable to reach this limit.
Rule II Policy Writing Instructions
2.1 Policy Term – The policy term must be for the same period as the basic policy.
2.2 Policy Application – Form MM-180 (2-00) must be completed and signed before coverage is bound for both new and endorsement requests.
2.23 Inception Time – The endorsement will be issued to take effect at 12:01 a.m., on the date requested, unless the agent specifies otherwise.
2.4 Snowmobiles – A photograph of the front of the sled is required for
bound coverage.
Rule III Deductibles – When applying higher deductibles, use the $250.00 rate as a basis.
Amount Deductible Credit $250 Deductible
$ 500.00 - 8%
$1,000.00 -15%
$2,500.00 -20%
$5,000.00 -25%
3.1 A minimum premium of $10.00 per policy for special property will be charged.
Rule IV Credits and Surcharges – Recreational equipment includes; boats and outboard motors, recreational vehicles and snowmobiles.
4.1 A 25% credit may be given if no claims were filed within the last five- (5) years (Company option).
4.2 Fleet Credits – Available when there are more units insured than operators in a household.
4.3 Surcharges – Snowmobiles, land and water recreational units over 600cc. Call the Company for rate.
4.4 Section II liability is a fully earned premium.
03-0310-01-01 04-06 SP-2
SPECIAL PROPERTY RATES
Form TMS 217 Applies – All Risk with Limited Exclusions
All rates shown below are annual rates per $100.00 coverage of insurance.
Item -0- Ded. $100.00 Ded. $250.00 Ded.
Antique Furniture .50 .25 .15
Antique Vehicles 2.00 1.35 1.00
Bicycles 12.00 6.50 4.00
Boats & Outboard Motors 2.10 1.25 1.00
Breakage Rates in Excess of Rates .30 .20 .10
Cameras-Video Recorders (Equipment) 2.00 1.00 .70
Campers (Pop-Up), & Tents & Travel Trailers 2.00 1.25 1.00
Car Phone & Telephone Devices 6.00 4.00 3.00
Coins-Rare & Current 2.00 1.25 1.00
Computers 1.60 .90 .55
Construction Equipment 2.00 1.40 1.10
Credit Cards 1.40 .80 .35
Fabric-Clothing-Cosmetics 2.00 1.40 .80
Fine Arts .60 .30 .15
Frozen Products 6.00 5.00 3.50
Furs & Garments Trimmed with Fur .60 .25 .20
Glass & Solar Panels 5.00 4.00 2.50
Glasses & Contact Lenses 10.00 7.00 4.00
Golfers Equipment 2.00 1.00 .65
Grave Markers .70 .40 .25
Guns 2.00 1.00 .65
Hearing Aids 2.50 1.50 1.00
Hobby-Collectors Item 3.00 2.20 1.40
Hospital Equipment 3.00 1.70 1.30
Jewelry 2.00 .80 .55
Jewelry over $10,000 value per item 2.40 1.00 .70
Jet Skis-Wave Runners N/A N/A Call for rate
Musical Instruments 2.00 .50 .35
Musical Instruments-Professional 5.00 3.50 2.80
Postage Stamps 1.50 1.00 .65
Radio & T.V. Stations-Equipment 4.00 2.60 2.00
Recreational Vehicles (under 600cc)-ATV’s 6.00 3.50 2.50
Satellite Receiver Dish N/A 2.00 1.40
Signs 5.00 3.45 2.40
Silverware .50 .25 .15
Snowmobiles (under 500cc) Air Cooled N/A N/A 2.50
Snowmobiles (501cc-600cc) Air Cooled N/A N/A 3.00
Snowmobiles (under 600cc) Liquid Cooled N/A N/A 3.504.38
Snowmobiles (over 600cc) All types N/A N/A 5.25 Call for rate
Sports Equipment 4.00 2.00 1.50
Stuffed Animals 1.20 .60 .30
Swimming Pools & Equipment 1.50 .85 .40
Tools 1.60 .80 .50
Tools-Professional 3.00 2.10 1.60
Tractors-Machinery-Utility Vehicles 6x6 2.00 1.00 .50
Trailers 1.80 1.15 .80
100310-01-01 04-06 SP-3
SPECIAL PROPERTY RATES
Forms IM-860 and IM-860-S Apply – All Risk with Limited Exclusions
All rates shown below are annual rates per $100.00 coverage of insurance.
Item -0- Ded. $100.00 Ded. $250.00 Ded.
Bees 5.00 3.50 2.50
Dairy Animals 4.00 2.50 1.50
Horses 5.00 3.50 2.30
Hunting Dogs 10.00 7.00 4.00
Other Livestock 4.00 2.50 1.50
Poultry 3.50 2.00 1.25
Semen 3.50 2.20 1.80
Milk 5.25 3.30 2.70
100310-01-01 10-01 SP-4