Homeowners Program—
New Jersey
Underwriting Guidelines and General Rates BINDING AUTHORITY
Refer to your agency contract for specific binding authority.
MINIMUM PREMIUM
$500 per policy, excluding taxes and fees; HO-3 and HO-8 $350 per policy, excluding taxes and fees; HO-4 and HO-6
MINIMUM EARNED PREMIUM
25% is required. A higher minimum earned premium may be charged as determined by agent.
POLICY PERIOD
The company requires that the Homeowners policy be written on one-year policy terms. Subject to continued acceptability of the risk, the policy can be renewed for successive one-year periods. All renewals are subject to the premiums, forms and coverages in force at the time of renewal.
APPLICATIONS Available in this Program
• Homeowners Package— HO-3
• Homeowners Package— HO-8
• Tenant Homeowner Pack-age—HO-4
• Unit-Owner Package—HO-6 • Seasonal/Secondary • Builder’s Risk/COC
• Inland Marine Supplemental Guidelines
• In-Home Business Supple-mental Guidelines
OWNERS
—NJ
A completed application, signed by the insured and the retail agent, is required on all policies. Complete underwriting information must accom-pany all submissions. SIC Comaccom-pany applications are available on the SIC Portal.
A renewal application is not needed unless there are changes in coverage conditions or exposures.
RENEWAL CERTIFICATES
Renewal certificates may be used if there is no substantial change in exposure.
ASSIGNMENT OR TRANSFER OF POLICY
No assignment or transfer of this policy is allowed without the written permission of the company.
INSPECTIONS AND/OR PHOTOS
An inspection is required within 30 days of policy inception. Two photos of the front and back with Actual Cash Value (ACV) and Replacement Cost (RC) or Functional Replacement Cost (FRC) evaluations on all policies. New inspection and photos are required every third year of renewal or if coverage is allowed to lapse.
INSURANCE TO VALUE
The company requires that all values be based on 100% of the Actual Cash Value (ACV), Replacement Cost (RC) or Functional Replacement Cost (FRC) value. An assessment of the property values should be done to de-termine the applicable actual cash value or replacement cost of all buildings and contents.
Homeowners Program—New Jersey
CORPORATE OWNED PROPERTY
Occupant of the property must be the principal of the corporation. Premises Liability limitation form HOS-96s is required when writing liability.
OWNERS
—NJ
WOODSTOVE/COAL BURNING QUESTIONNAIRE (UTX-QUES-304) AND PHOTO
Required on all new business with supplemental woodstove/coal heat.
ELIGIBILITY
Homeowner Package & Unit-Owners Policy (HO 00 03 or HO 00 06)
The dwelling, condominium or co-operative unit must be owner occu-pied and used exclusively as a private residence. Dwelling must not contain more than two single-family residential units. (Applicable only to HO 00 03.)
Wiring, Heating and Plumbing must have been fully updated within the past 50 years. Roof must be excluded if not fully updated in the past
25 years. Contact Underwriting for exceptions such as slate and metal
roofs.
Homeowner Policy (HO 00 08)
The dwelling must be owner occupied and used exclusively as a pri-vate residence. Dwelling must not contain more than two single-family residential units.
Wiring and Heating must have been fully updated within the past
50 years. Roof must be excluded if not fully updated in the past 25 years. Contact Underwriting for exceptions such as slate and metal
roofs.
Tenant Homeowners Policy (HO 00 04)
For tenants of a dwelling or apartment situated in any building; or the owner occupant of a dwelling, cooperative unit or of a building contain-ing an apartment not otherwise eligible for a Homeowner Policy. This is subject to the residence premises occupied by the insured is used exclusively for residential purposes and is not occupied by more than one additional family.
SUBMIT
• Over binding authority
• Risks with more than two losses in the last three years regardless of the value of the loss
• Risks with a loss in excess of $10,000 • Risks with fuses
• Risks with existing damage or unsettled loss
• Bankruptcy, repossession or foreclosure (if closed) within the last three years.
Pro-Homeowners Program—New Jersey
SUBMIT (Continued)
• Dwellings or adjacent structures with a commercial exposure • Personal property in units adjoining commercial occupancies
OWNERS
—NJ
• All requests to add an additional insured.
• Risks with unfenced swimming pools and/or trampolines
• Business Pursuits (Exposure may be eligible for In-Home Business Homeowners Package Policy.)
• Professional athletes and individuals in the entertainment industry • Risks with lapses in coverage over 30 days
PROHIBITED COVERAGES AND RISKS
• Any open bankruptcy/foreclosure/repossession • Dwellings with more than two mortgagees
• Woodstoves, space heaters, kerosene or coal burning stoves as pri-mary source of heat
• Vacant or Unoccupied • Farm and Ranch Properties • Mobile Homes
• DIC (Difference in Conditions) • Risks with knob and tube wiring
• Replacement Cost on Hand-Hewn Log buildings PROHIBITED FOR LIABILITY COVERAGE
• Risks with non-domestic, guard or vicious animals • Liability extended to daily rental properties
• Home Day Care exposures without Commercial General Liability or Business on Premise Coverage
• Home Day Care exposures with swimming pool, trampolines and/or dogs
Note: Liability will be excluded on all risks with Home Day Care exposures with swimming pool, trampolines and/or dogs regardless of CGL or BOP coverage.
Note: When issuing a HO policy without Liability, the declaration page must show “Not Covered” for the Liability section and all Liability forms must be deleted.
CONSTRUCTION DEFINITION Masonry
• Exterior walls must be made of 100% non-combustible materials such as: adobe, brick, concrete, gypsum block, hollow concrete block, stone, tile or similar materials
Frame
• If any portion of the exterior walls is made of combustible materials, it must be rated as Frame. This includes Stucco, EIFS, Hardi Board, Joisted Masonry, Masonry/Brick Veneer and Mixed (Masonry/Frame) construction methods.
Homeowners Program—New Jersey
TERRITORY DEFINITION
Territory I—Cities of: Newark, Paterson
Territory II—Cities of: Camden, East Orange, Elizabeth, Jersey City, Passaic, Trenton, Irvington
OWNERS
—NJ
Homeowners Program—New Jersey
Property Rating Exceptions (Surcharges and Credits) DEDUCTIBLE
OWNERS
—NJ
A deductible of $500 is standard on all Homeowner policies. Optional Deductibles
• $1,000 deductible—all perils credit 5% • $2,500 deductible—all perils credit 10%
PREMISES ALARM AND FIRE PROTECTION SYSTEM CREDITS Attach form HO 04 16, Premises Alarm or Fire Protection System • Local Alarm—credit 2%
• Central Station Fire Alarm only—credit 5% • Central Station Burglar Alarm only—credit 5% • Central Station Fire and Burglar Alarm—credit 10% WIND AND HAIL GUIDELINES
East of the Intracoastal and Cape May
• Apply a 2% wind and hail deductible if within 1,000 feet to coastal waters (use HOS-115s)
• Apply a 1% wind and hail deductible if over 1,000 feet to coastal waters (use HOS-115s)
West of the Intracoastal
• Apply a 1% wind and hail deductible if within 1,000 feet to coastal waters (use HOS-115s)
“Coastal waters” includes open salt water (ocean) and bays or if located on an island. Wind Credits Deductible Credit 1% 2% 2% 5% 5% 10% Exclude 20%
WOODSTOVE—If the residence has any type of wood or coal burning facili-ty, surcharge an additional $35 per location.
LIMITED ANIMAL LIABILITY
$10,000 animal liability is included within the base policy premium by attach-ing form UTS-360s.
The above form excludes liability for the following breeds of dog: Rottweiler, Doberman Pinscher, Akita, Bullmastiff, wolf hybrids, Chow Chow and Pit Bull, including but not limited to, American Staffordshire Terrier, Stafford-shire Bull Terrier or American Pit Bull Terrier and/or any animal liability for attack, nondomesticated or guard dogs.
• Animals with previous bite history—Animal sublimit not available. Do not attach the Limited Animal Liability form, UTS-360s.
Homeowners Program—New Jersey
EXTENDED LIABILITY
Liability may be extended to any owned one to four family dwelling. Attach form HOS-44s. See chart for additional charges.
OWNERS
—NJ
SEASONAL/SECONDARY HOMEOWNER GUIDELINES In addition to the general Homeowner Guidelines:
• HO-8, HO-3 and HO-6 eligible
• Minimum Deductible $1,000 (no credit) • Surcharge base premium 10%
• Regular monitoring or caretaker required • Owner occupied only
• Do not attach the Occupancy Endorsement, UTS-32g • Submit:
o Coverage A values below $75,000 o Protection Class 9 or 10
BUILDERS RISK / COURSE OF CONSTRUCTION (COC) GUIDELINES In addition to the State Homeowner Guidelines:
• HO-3 eligible and must be written on an annual basis
• Fully completed and signed Scottsdale Builder’s Risk Supplemental application
• Coverage must be written for 100% of completed dwelling amount • A minimum of $2,500 AOP deductible applies
• Add minimum $100 flat charge to the base Homeowner program premium
• Attach HOS-93s, HOS-95S and HOS-111s in addition to all other appli-cable forms
• Contractor must be a licensed / insured builder • Contractors may not be listed as Additional insureds • All renewals must be submitted for approval
• Conversion to full HO-3 policy is optional upon completion • Liability is not available if insured is builder/contractor $25,000 Theft of Building Materials is included and requires:
• Preventive measures be taken to protect property, including locking up valuable items from public view
• Regular visual inspection of property by owner/builder/ contractor
• Materials delivered when needed and not stock piled or stored on site
• Building and materials should be secured as soon as possible • Site lighting and fencing are recommended
Homeowners Program—New Jersey
AVAILABLE LIMITS
Homeowners
(HO-8, HO-3) Minimum Maximum
Dwelling (Coverage A) $5,000 Submit if over Binding Authority Adjacent Structures (Coverage B) 10%* 200%* Unscheduled Personal Property (Coverage C) 50%* 100%* Loss of Use (Coverage D) 10%* 20%* Loss Assessment $1,000 $25,000 Tenant Homeowners
(HO-4) Minimum Maximum
Unscheduled Personal
Property (Coverage C) $5,000 Submit if over Binding Authority Loss of Use
(Coverage D) 10%** 100%**
Loss Assessment $1,000 $25,000
Unit-Owners
(HO-6) Minimum Maximum
Dwelling (Coverage A)
(Additions & Alterations) $1,000 Submit if over Binding Authority
Adjacent Structures
(Coverage B) N/A N/A
Unscheduled Personal
Property (Coverage C) $5,000 Submit if over Binding Authority Loss of Use
(Coverage D) 10%** 100%**
Loss Assessment $1,000 $25,000
OWNERS
—NJ
If Liability is written the following applies:
All Policy Options Minimum Maximum
Liability (Coverage E) $25,000 Submit if over Binding Authority Medical Payments to
Others (Coverage F) $500 $10,000 * Based on limit of liability requested for Coverage A.
Homeowners Program—New Jersey
PROGRAM OPTIONS AVAILABLE
Homeowners Package Coverages Available Buildings Personal Property Surcharges/Credit Base Rates HO 00 08 NP/FRC NP/ACV +5% HO 00 08 with
HO 04 81 NP/ACV NP/ACV Use Base Rates HO 00 08 with HO 04 90 NP/FRC NP/RC +10% HO 00 08 with HO 04 81 and HO 04 90 NP/ACV NP/RC +3% HO 00 03 DPL/RC NP/ACV +15% HO 00 03 with HOS-112s DPL/RC DPL/RC +35% HO 00 03 with HO 04 81 DPL/ACV NP/ACV +10% HO 00 03 with HO 04 90 DPL/RC NP/RC +20% HO 00 03 with HO 04 90 and HOS-112s DPL/RC DPL/RC +35% HO 00 03 with HO 04 81 and HO 04 90 DPL/ACV NP/RC +13%
NP = Named Perils Only BF = Broadform
DPL = All “Direct Physical Loss” to Property
ACV = Actual Cash Value RC = Replacement Cost FRC = Functional Replacement
Cost
Please refer to Coverage Form for specific Definitions, Conditions, Exceptions and Exclusions. All con-flicts in Definitions or Coverages offered will default to the Coverage Form attached to the policy.
OWNERS —NJ Tenant Homeowners Coverages Available Buildings Personal Property Surcharges/Credit Base Rates HO 00 04 No Coverage BF/ACV -40% HO 00 04 with HO 04 90 No Coverage BF/RC -30%
Homeowners Program—New Jersey
PROGRAM OPTIONS AVAILABLE (CONTINUED)
Unit-Owners Homeowners Coverages Available Buildings Personal Property Surcharges/Credit Base Rates HO 00 06 BF/RC BF/ACV -35% HO 00 06 with HO 04 81 BF/ACV BF/ACV -40% HO 00 06 with HO 17 32 DPL/RC BF/ACV -25% HO 00 06 with HO 17 32 and HO 04 90 DPL/RC BF/RC -15% HO 00 06 with HO 04 90 BF/RC BF/RC -30% HO 00 06 with HO 04 81 and HO 04 90 BF/ACV BF/RC -32%
NP = Named Perils Only BF = Broadform
DPL = All “Direct Physical Loss” to Property
ACV = Actual Cash Value RC = Replacement Cost FRC = Functional Replacement
Cost
Please refer to Coverage Form for specific Definitions, Conditions, Exceptions and Exclusions. All con-flicts in Definitions or Coverages offered will default to the Coverage Form attached to the policy.
OWNERS
—NJ
INCREASED LIMITS AND RATES
In addition to the basic coverages, the following increases are available when the premium indicated is charged:
Adjacent Structures
To increase above the 10% included (per $1,000 of additional coverage requested):
Masonry Frame Entire state $4.50 $5.00
Personal Property
To increase above the 50% included (per $1,000 of additional coverage requested):
Masonry Frame Entire state $2.00 $2.50
Loss of Use
To increase limits over the 10% included (per $1,000 of additional coverage requested):
Masonry Frame Entire state $1.50 $2.50
Homeowners Program—New Jersey
Unit-Owners Building Coverage
To increase limits over the $1,000 included (per $1,000 of additional coverage requested): OWNERS —NJ Masonry Frame Territory I & II $9.00 $11.00 Territory III $4.50 $5.00
Loss Assessment Increased Limits
To increase limits over the $1,000 included (per $1,000 of additional coverage requested):
Masonry Frame Entire state $2.00 $3.00
Ordinance or Law Increased Coverage
To increase coverage over the 10% of Coverage A included amount (per $1,000 of Coverage A limit)
Total Limit Rate
15% of Coverage A .15 25% of Coverage A .30 Attach form HO 04 77.
Personal Liability
To increase above the $25,000 included: Territory I & II
Liability Limit Premium
$ 50,000 $110 $ 100,000 $165 $ 300,000 $220 $ 500,000 $275 $1,000,000 $344 Territory III
Liability Limit Premium
$ 50,000 $55
$ 100,000 $83
$ 300,000 $110
$ 500,000 $165
Homeowners Program—New Jersey
Secondary/Additional Residence Rented to Others Territory III only
Attach HOS-15 and add the following additional premium to Personal Liability for each additional location:
Liability Limit 1-2 Family 3-4 Family
$ 25,000 $248 $303 $ 50,000 $275 $330 $ 100,000 $297 $385 $ 300,000 $330 $468 $ 500,000 $363 $550 $1,000,000 $454 $688
Personal Medical Payments/Medical Payments to Others
Liability Limit Premium
$ 500 Included
$1,000 Add $20
Each additional $1,000 Add $5 Maximum available limit is $10,000
Acreage
Number of Acres Premium
0 - 5 Included 6 - 25 $2.50 Per Acre or $25.00 (whichever is greater) 25+ Submit OWNERS —NJ
Homeowners Program—New Jersey
OPTIONAL COVERAGES
Personal Injury
OWNERS
—NJ
(Available on primary owner-occupied locations only) Limit must be equal to the basic liability limit. Attach form HO 24 82
All Target risks are to be submitted to the Company. Premium: Limit Premium $ 25,000 $10 $ 50,000 $15 $ 100,000 $20 $ 200,000 $25 $ 300,000 $30 $ 500,000 $40 $1,000,000 $75
Extended Replacement Cost Amount Surcharge
25% 10% of Coverage A premium
Complete and attach form HO 04 20. Coverage is only available with form HO-3. Building must be 50 years old or newer to qualify for coverage. Home must be insured to 100% replacement cost and an inspection is required.
Water Backup and Sump Discharge or Overflow (providing there are no prior losses of this type).
Limit Premium
$5,000 $100
$10,000 $150
$25,000 $250 Complete and attach form HOS-88S. Coverage is only available with form HO-3. Deductible must be a minimum of $250.
Identity Fraud Expense Coverage
Limit Premium
$15,000 $25
Attach form HOS-87s. Coverage is available on all homeowner coverage forms. $250 deductible, subject to no prior identity fraud losses.
Eco Homeowners Coverage Available on HO-3
Homeowners Program—New Jersey
Upgrade to Green Coverage
Available on HO-3. Policy must include Personal Property Replacement Cost coverage.
OWNERS
—NJ
Charge $.02 per $100 of TIV, attach form HOS-107s
In Home Business—Refer to In Home Supplemental Coverage Guidelines or the company underwriter for availability.
Inland Marine Supplemental—Refer to Inland Marine Supplemental Cov-erage Guidelines or the company underwriter for availability.
Homeowners Program—New Jersey
Inland Marine Supplemental Guidelines UNDERWRITING REQUIREMENTS
• Central station alarm required if total values exceed $25,000
• Certified appraisals are required on items valued over $2,500 and must be less than three years old
• Appraisals must be received within 30 days of binding
• A completed application or SIC supplement, including the insured's oc-cupation(s) and signature, is required
SUBMIT
• Any single item over $5,000
• Scheduled values exceeding a total of $25,000 • Any prior Inland Marine loss
• Extensive travel • Gems not in a setting
• Musical Instruments used professionally PROHIBITED
• More than one Inland Marine loss within the past three (3) years • Computer equipment, baseball cards, comic books and/or collections
where values fluctuate frequently • Blanket Coverage
• Artist’s Own Work • Hearing Aids RATES Jewelry—Ladies' 3% Jewelry—Men's 4% Furs .75% Silver 1% Fine Arts .75% Including Breakage 1.5% Cameras 2% Postage Stamps 2% Coins 2%
Musical Instruments (Personal Use) Professional Use—Submit 1% 3% Golfer's Equipment 1.5% Guns 2% 200 2 — MI OWNERS —NJ
Homeowners Program—New Jersey
GUIDELINES FOR IMS-15
Include the corresponding clause numbers for each type of property you are writing. OWNERS —NJ Jewelry #1 #2 if vault coverage #5 if alarm required #7 #9 #12 if residence safe #13 if applicable #14 Furs #1 #5 if alarm required #9 #11 #13 if applicable #14 Silver #5 if alarm required #9 #10 #13 if applicable Fine Arts #4 if carpets #5 if alarm required #8 #10 #11 #13 if applicable Musical Instruments #5 if alarm required #8 #9 #11 #13 if applicable #14 Guns #5 if alarm required #6 #9 #13 if applicable #14
Stamps and Coins #5 if alarm required #9 #10 #13 if applicable Cameras #3 #5 if alarm required #9 #13 if applicable #14
Homeowners Program—New Jersey
In-Home Business Supplemental Guidelines ELIGIBILITY
OWNERS
—NJ
An in-home business includes a retail or service business operated from the insured's place of residence having the following characteristics. It must: • Be operated by the insured and/or another immediate family member
who resides in the insured's household
• Employ no more than three employees, other than independent contrac-tors or distribucontrac-tors
• Occupy less than 50% of the available residence area
• Be incidental to the occupancy of the building as a private residence IN-HOME BUSINESS GUIDELINES
All risks must meet the following Underwriting Guidelines.
• The limit of insurance for business personal property must equal 100% of ACV or replacement value
• The applicant does not operate any other business at a different location under the same legal name as this business
• The dwelling is not a mobile home or trailer
• The applicant’s occupation must not be a “target” occupation of a pro-fessional entertainer, athlete, media personality, state or federal political figure
• The applicant does not directly import foreign products
• The applicant does not repackage food or personal care products to be sold under his/her own label
• The applicant is not involved in the sale or manufacturing of explosives or propellants, or any other hazardous product
• No single item of merchandise the applicant sells directly is valued in excess of $2,500
• The applicant does not install any products, excluding installation of computer systems, office equipment or indoor window coverings
PROHIBITED RISKS • Home Day Care
Homeowners Program—New Jersey
SUBMIT ITEMS
The following item(s) are in addition to the Submit Items located in the Homeowners Package Program Guidelines.
• Any business-related claim within the last three years • More than $25,000 business personal property value
• More than 5,000 square feet of total floor area for the residence, includ-ing basements, garages and outbuildinclud-ings within 100 feet of the resi-dence. Regardless of area of the residence, no more than 50% may be used for the business activity.
• Maximum gross annual sales/receipts derived from the business activity of $150,000 for sales of merchandise or $350,000 for a service business
The following lists are the only businesses eligible. Professional Liability is excluded on all classes except Daycare.
Type of Business Rate
Group
Abstracting and Indexing Service 2
Accounting Service 2
Adjuster (Public or Independent Claim Adjuster) 2
Advertising Specialty Items Sales 2
Antique Gallery/Shop (1) 1
Appraisal Service 2
Art Gallery/Art Studio (1) 1
Artist Supplies 1 Auctioneer 1 Bakeries 3 Barber Supplies 1 Beauty Supplies 1 Book/Magazine Distributor 2 Bookbinding 1 Bookkeeping Service 2
Camera/Photography Sales or Repair 3
Candy/Nut Confections 1
Ceramics 1
Clock or Watch Repair 1
Clowns, Magicians, Entertainers excluding Bands and Disc Jockeys
3
Computer Consultants and Trainers who are not involved in development of custom applications/programs
2
Computer and VCR Repair 3
Computer Service Bureau 2
Cosmetics Sales (Avon, Mary Kay, etc.) 1
OWNERS
Homeowners Program—New Jersey
Type of Business Rate
Group
Crafts 1 Day Care—See Separate Rates and Guidelines ---
Desktop Publishing 2
Distributor of Household Products (Amway, Fuller Brush, Shak-lee, etc.)
1
Draftsman 2
Editorial Service/Proofreaders 2
Engraving 3
Expert Witness Consultants 2
Financial Planning, excluding discretionary trading authority and/or access to customer’s funds
2
Floral Arrangement 1
Food Broker 2
Food Supplements/Vitamins 1
Framing 1 Gift Delivery Service (Balloons, Gift Baskets, etc.) 2
Gift Shop 1
Glassware 1
Graphic Artist/Designer 2
Hearing Aid Sales 1
Hobby and Model Supplies excluding explosives and
propel-lants, glues and paints 3
Information Search Retrieval 2
Insurance Agent 2
Interior Decorator 2
Jewelry (costume) 1
Kitchen Supplies (Tupperware, etc.) 1 Ladies’/Girls’ Clothing, Accessories 1
Lingerie 1
Leather Goods 1
Loan Originator Service 2
Locksmith 1
Market Research 2
Medical Billing Service 2
Medical Claims Processing 2
Men’s/Boy’s Clothing, Accessories 1
Musical Instrument Sales/Repair 1
Pay Telephone Provider 1
OWNERS
Homeowners Program—New Jersey
Type of Business Rate
Group
Personal Care Products 1
Personalized Books and Gifts 2
Photographer/Photography Studio 3
Professional Organizer 2
Real Estate Agent 2
Religious Goods 1
Residential Inspection Service 2
Resume Service 2
Rubber Stamp Business 2
Secretarial Service 2
Shoe Repair 3
Stationery and Paper Goods 1
Tailoring, Alterations, Seamstresses 1 Teachers/Tutors except sports, physical education, industrial or martial arts (2)
3
Telemarketing, Telephone Solicitation with no more than three (3) phone lines involved
2
Telephone Answering Service/Voicemail 2
Toner Cartridge Recharging 3
Transcribing, Court Reporters 2
Translator 2
Trophy Sales 1
Video and Music Sales/Rental 1
Wedding and Party Planners 2
Wedding Cake and/or Cookie Sales 3
Windshield Repair 1
Wood Products excluding toys and furniture manufacturing 1
Word Processing 2
OWNERS
Homeowners Program—New Jersey
In-Home Business Rates
In-Home Business Coverage is offered as an extension to the regular Homeowners policy. This coverage cannot be written without the Home-owners Policy. In addition to the rate charged for the basic HomeHome-owners policy, the following rates apply separately to In-Home Business Coverage and must be shown on the Supplemental Declaration Page, form HOS-SD-1.
OWNERS
—NJ
BASE PREMIUM INCLUDES: Business Personal Property
On Premises $2,500
Business Liability
Per Occurrence/Aggregate $25,000 Business Loss of Income
Per Month $1,000 Med Pay Each Person Aggregate $ 500 $10,000 RATES
Base Rate Group Rate
1 $120
2 $130
3 $190
INCREASED LIMITS AND RATES
Business Personal Property Coverage (BPP)—(To increase above the $2,500 included) Group Rate—ACV 1 $1.30 2 $ .90 3 $2.60 Rates per $100
Replacement Cost—Surcharge Rate 15% Maximum Limit for BPP coverage is $25,000 Submit for higher limits
Homeowners Program—New Jersey
Liability Limit* (To increase above the $25,000 Occurence/$25,000 Aggre-gate included Amount Occurrence/Aggregate $ 50,000/$ 50,000 $ 25 $ 100,000/$ 100,000 $ 35 $ 300,000/$ 300,000 $ 45 $ 500,000/$ 500,000 $ 55 $1,000,000/$1,000,000 $110 OWNERS —NJ
*Business Liability Occurrence Limit—must be equal to the Homeowners Occurrence Limit.
Med Pay—the limit per person can be increased up to $10,000 maximum. The premium charge is included in the increased Med Pay limits shown in the Increased Limits and Rates section of the Rating Specifications/State Exceptions of the Homeowners Package Program.
