He determination of the actual cash value of any property should include all relevant evidence an expert would use to set the value of the property, including replacement cost less depreciation and fair market value (which takes into account location, obsolescence, present value of expected income from the property, and economic conditions at the time of the loss). The rule applies equally to real property and personal property, commercial property and personal lines property, fixed equipment, mobile equipment, and automobiles.

Rule applied to calculating the actual cash value of lost property. Under this rule, any evidence about the value of the item is considered admissible. The item’s value can also be determined by any means that accurately depicts its true value.

Insurance that covers many hazards to include theft, loss, property damage, and vandalism.

A type of homeowners insurance wherein most reasons for a loss are covered.

A form which must be attached to every General Liability coverage part. It excludes coverage for any loss resulting from the hazardous properties of nuclear material related to the operations of a nuclear facility.

A property insurance designation for coverage that extends beyond the basic named perils.****************A property insurance designation for coverage that extends beyond the basic named perils. This coverage can be found on both commercial and personal property policies. Broad form perils may include the basic perils as well as vandalism, malicious mischief, damage by burglars, falling objects, weight of ice, snow or sleet, accidental discharge of water or steam, sudden and accidental tearing arpt, freezing, sudden and accidental damage from artificially generate electrical current. The exact perils will vary by insurer.

Usually part of a homeowner’s insurance policy; this type of policy covers theft at a private residence. This type of coverage usually protects against all perils such as vandalism, theft, and damages occurring due to malicious mischief.

Theft coverage on personal property at private residences, usually on an all risk basis. This type of coverage is most often part of a Householders Policy.

An endorsement to a General Liability policy that deletes the exclusion referring to property in the care, custody or control of the insured and replaces it with a less restrictive exclusion.
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A commercial general liability endorsement that removes the care, custody, or control exclusion relating to the property of others and replaces it with a less stringent one.

An addition to a general liability policy that negates the exclusion of property in the care or custody of the insured.