Chapter 12: Commercial Property – BOP Declaration Page Copy

Declaration Page
Most companies utilize a declaration page which gives complete details on the named insured, the policy period and the premium.

Description of Premises
Shows multiple buildings covered at a single location, as well as multiple locations.

Coverage Provided
Each item of coverage corresponding to the premises # and building # shown in the Description of Premises is listed in this section with its limit of insurance, applicable causes of loss form and co-insurance percentage.

This section is used to trigger optional coverages that are built in to various coverage forms:

• Agreed Value
• Replacement Cost
• Inflation Guard
• Monthly Limit of Indemnity
• Maximum Period of Indemnity
• Extended Period of Indemnity

Deductible
The standard deductible is $250 but another deductible amount may be used; no separate endorsement is required for a large deductible. The deductible applies to all causes of loss.

Forms Applicable
Endorsement numbers are shown, applicable either “to all coverages” or “to specific premises/ coverages.” Many companies will put this section on a separate page to allow more room.