filing at a glance - am best · 2014-01-20 · filing at a glance company: bankers insurance...
TRANSCRIPT
Filing at a Glance Company: Bankers Insurance Company
Product Name: Excess Flood - Forms
State: Tennessee
TOI: 02.3 Flood
Sub-TOI: 02.3002 Personal Flood
Filing Type: Form
Date Submitted: 11/25/2013
SERFF Tr Num: BKIC-129309948
SERFF Status: Closed-Approved
State Tr Num: 134283
State Status: Closed
Co Tr Num: 13-0147
Effective DateRequested (New):
01/01/2014
Effective DateRequested (Renewal):
01/31/2014
Author(s): Meg LaLonde, Elizabeth Ahner, Pamela Simon
Reviewer(s): John Duncan, CPCU (primary)
Disposition Date: 11/27/2013
Disposition Status: Approved
Effective Date (New): 01/01/2014
Effective Date (Renewal): 01/31/2014
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
General Information
Company and Contact
Filing Fees
State Specific
Project Name: TN Excess Flood Forms Filing Status of Filing in Domicile: Authorized
Project Number: 13-0147 Domicile Status Comments:
Reference Organization: Reference Number:
Reference Title: Advisory Org. Circular:
Filing Status Changed: 11/27/2013
State Status Changed: 11/27/2013 Deemer Date:
Created By: Meg LaLonde Submitted By: Meg LaLonde
Corresponding Filing Tracking Number: 13-0148
Filing Description:
Bankers Insurance Company, a subsidiary of the Bankers Insurance Group, is submitting for your review and approval aninitial Rules, Rates, and Forms Filing for an Excess Flood product. We are requesting an effective date of New Business1.1.2014 and Renewal Business 1.31.2014. Corresponding Rate Rule Filing number 13-0148. This is a new program filingand there is no rate data available. Please see the Filing Memorandum included for additional program details.
Filing Contact InformationMeg Lalonde, Compliance Specialist [email protected]
11101 Roosevelt Blvd N
St. Petersburg, FL 33716
800-627-0000 [Phone] 4430 [Ext]
727-803-2090 [FAX]
Filing Company InformationBankers Insurance Company
11101 Roosevelt Blvd N
St. Petersburg, FL 33716
(800) 627-0000 ext. 4010[Phone]
CoCode: 33162
Group Code: 689
Group Name: Bankers InsuranceGroup
FEIN Number: 59-1673015
State of Domicile: Florida
Company Type: P&C
State ID Number:
Fee Required? No
Retaliatory? No
Fee Explanation:
Have you read the General Instructions?: yesHave you read the Additional Information Requirements?: yesIf a rate filing, have you completed the Rate Information as required?: n/a
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Correspondence Summary DispositionsStatus Created By Created On Date SubmittedApproved John Duncan, CPCU 11/27/2013 11/27/2013
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Disposition
Disposition Date: 11/27/2013
Effective Date (New): 01/01/2014
Effective Date (Renewal): 01/31/2014
Status: Approved
Comment:
Rate data does NOT apply to filing.
Schedule Schedule Item Schedule Item Status Public AccessSupporting Document Detailed Filing Overview Yes
Supporting Document Third Party Authorization Yes
Supporting Document Filing Fees For Property and Casualty Yes
Supporting Document Applications that become part of the policy Yes
Supporting Document Side-by-Side Comparison - Form and/or Rule Yes
Form Application Yes
Form Confirmation of Cancel Yes
Form Declaration page Yes
Form Dwelling Property Policy Yes
Form Dwelling Property Special Provisions Yes
Form General Property Policy Yes
Form General Property Special Provisions Yes
Form Notice of Nonrenewal Yes
Form Notice of Cancellation-Nonpayment Yes
Form Notice of Cancellation-Underwriting Yes
Form Notice of No Coverage Yes
Form Notice of Premium Due Yes
Form Privacy Statement Yes
Form Notice of Reinstatement Yes
Form Renewal Notice Yes
Form Renewal Reminder Yes
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Form Schedule
Item
No.
Schedule Item
Status
Form
Name
Form
Number
Edition
Date
Form
Type
Form
Action
Action Specific
Data
Readability
Score Attachments1 Application ABE New Application.pdf2 Confirmation of Cancel GXXX99.0
017 0610DSC New GXXX99.017
0905.Confirmation of Cancel.pdf
3 Declaration page BEF99.0010610
DEC New BEF 99.0010610.Declarations Page.pdf
4 Dwelling Property Policy BEFD99.102 0104
PCF New BEFD99.1020104.DwellingPropertyPolicy.pdf
5 Dwelling Property SpecialProvisions
BEFD41.114 0302
END New BEFD41.1140302.DwellingProperty SpecialProvisions.pdf
6 General Property Policy BEFG99.102 0104
PCF New BEFG99.1020104.GeneralPropertyPolicy.pdf
7 General Property SpecialProvisions
BEFG41.114 0302
END New BEFG41.114.0302.GeneralProperty SpecialProvisions.pdf
8 Notice of Nonrenewal GXXX99.018 09050807
DSC New GXXX99.01809050807.NonRenewal.pdf
9 Notice of Cancellation-Nonpayment
GXXX99.013 09050605
DSC New GXXX99.0130905 0605.Noticeof Cancellation-NonPayment.pdf
10 Notice of Cancellation-Underwriting
GXXX99.012 09050206
DSC New GXXX99.0120905 0206.Noticeof Cancellation-Underwriting.pdf
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Item
No.
Schedule Item
Status
Form
Name
Form
Number
Edition
Date
Form
Type
Form
Action
Action Specific
Data
Readability
Score Attachments11 Notice of No Coverage BEF
99.0191001
DSC New BEF 99.0191001.Notice ofNo Coverage.pdf
12 Notice of Premium Due BEF99.202B1008
DSC New BEF 99.202B1008.Notice ofPremium Due.pdf
13 Privacy Statement BXXX99.206 1207
DSC New BXXX99.2061207.PrivacyStatement.pdf
14 Notice of Reinstatement BEF99.0201001
DSC New BEF 99.0201001.Reinstatement.pdf
15 Renewal Notice BEF99.023B 1008
DSC New BEF99.023B1008.RenewalNotice.pdf
16 Renewal Reminder GXXX99.022 0709
DSC New GXXX99.0220709.RenewalReminder.pdf
Form Type Legend:ABE Application/Binder/Enrollment ADV Advertising
BND Bond CER Certificate
CNR Canc/NonRen Notice DEC Declarations/Schedule
DSC Disclosure/Notice END Endorsement/Amendment/Conditions
ERS Election/Rejection/Supplemental Applications OTH Other
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Application Detail Effective - Expiration Date 10/31/2012 - 10/31/2013 Insured
Policy Number
Agency Information Agency Number 101908 Agency BEST INSURANCE Address 1103 CHESTNUT DR City, State, Zip FRANKLIN TN 37064-2318 Phone Number (555) 555-5555
Producer Detail Producer Name JENNIFER TEST License Number A248841 Email Address [email protected] Phone Number (111)111-1111
Waiting Period Loan Requirement - No Wait
Underlying Flood Information Company Policy Number Policy Expiration Date 10/31/2013
Zone Determination Information Address 7320 COX RUN DR FAIRVIEW TN 37062-9271 Zone AE
Property Address 454 WARREN ST HUDSON,NY 12534-2445 (222)222-2222
Mailing Address 454 WARREN ST HUDSON, NY 12534-2445
Lender Information
Building Information
Yes No
Excess Flood Application
Insert applicable logo Insert applicable company name Insert address
City State Zip Office: Insert Phone number Fax: Insert Fax Number
Lender 1 Information
SAOA ATIMA VENTA FINANCIAL GROUP INC
1300 S JONES BLVD LAS VEGAS, NV 89146-1205 Loan #: FL3021211156
Bill to at Renewal Insured
Located within City Limits Yes Flood Zone AE Community Name AVALON, BOROUGH OF Community Number 345279 Panel Number/Community Suffix 0217/F Construction Date 01/01/2000 Elevation Certificate Yes Building Occupancy Single Family Number of Floors Two Floors Basement / Enclosure or Crawl Space Building in course of construction Building Elevated nsured Principal Residence Elevated area contain obstruction
None No Building is not elevated
Application Detail Effective - Expiration Date 10/31/2012 - 10/31/2013 Insured
Policy Number
Excess Flood Application
Insert applicable logo Insert applicable company name Insert address
City State Zip Office: Insert Phone Number Fax: Insert Fax Number
Location of Contents Lowest Floor Above Ground Level and Higher Floors Replacement Cost $ 521,000
Application Detail Effective - Expiration Date 10/31/2012 - 10/31/2013 Insured
Policy Number
No Yes
Elevation Information Elevation Difference 1 feet Lowest Adjacent Grade 5.9 feet Base Flood Elevation 6.0 feet Elevation Certificate Date 10/08/2012
Coverage & Premium Detail Coverage Underlying Limits Rates Excess Limits Rates Total Premium
Building 250,000 0.57 271,000 0.09 610 Contents 100,000 0.38 0 0.12 0
MGA Fee 25
FL Hurricane Cat Fund Fee 8
Fl Citizens 2005 Emergency 6
Excess Flood Application
Insert applicable logo
Insert applicable company name Insert Address City, State, Zip Office: Insert phone number Fax: Insert fax number
Underwriting Information Has there been a flood loss in the past 5 years s the building located in, on or over water seaward of mean high tide s the building built on pil ings or piers s the building located behind the natural dune line
No No No
s the building located on a hill with a 30 degree slope No No
No
Are contents in basement or at elevations lower than the lowest elevated floor of an elevated post-firm building s the building located within 1500 feet of the Gulf of Mexico or Atlantic Ocean Photos received
Annual Subtotal 610
Total Prepaid Amount 649
Please note that your policy will be written to expire concurrent with your Primary Flood Policy (not to be less than 3 months in length)
Application Detail Effective - Expiration Date 10/31/2012 - 10/31/2013 Insured
Policy Number
Excess Flood Application
Insert applicable logo
Insert applicable company name Insert Address
City, State Zip Office: Insert phone number Fax: Insert fax number
Signatures Important Notice This policy does not provide any coverage for any ordinance or law regulating the construction, repair, floodproofing of structures, demolition or relocation of a building or other structure under this insurance.
Additional Privacy Compliance Information: BANKERS INSURANCE COMPANY
Privacy Compliance PO BOX 33060
SAINT PETERSBURG FL 33733-8060 1-800-627-0000
Applicant Signature Date
Binding Agent: BARRY R TESTAGENT License Number: A248841
hereby apply to the Company for a policy of insurance as set forth in this application on the basis of the statements contained herein. I agree that such policy shall be null and void if such information is false, or misleading or would materially affect the acceptance of the risk by the Company. I also understand that payment of premium is defined as being only when the premium payment check clears, and no temporary or other coverage exists unless the check clears when initially submitted by the company or its agent. I hereby certify that I have read and answered all the questions on this application. I also certify that all the information contained in this application is accurate and complete. Privacy Act The information requested is necessary to process your application for excess flood insurance. The authority to collect the information is Title 42, U.S. Code, Section 4001 to 4028. It is voluntary on your part to furnish the information. It may only be disclosed to routine users, to your agent and any mortgagee named on your policy.
Fraud Warning: Any person who knowingly and with intent to injure, defraud, or deceive any insurance company, files a statement of claim containing any false, incomplete, or misleading information is guilty of a felony of the third degree.
An inspection will be ordered for this property.
Agent's Signature Date of Application
Application Detail Effective - Expiration Date 10/31/2012 - 10/31/2013 Insured
Policy Number
Agency Information Agency Number 101908 Agency BEST INSURANCE Address 199 N BAY DR, City, State, Zip BAYVILLE, NJ 08721-3118 Phone Number (555) 555-5555
Property Address 6880 DUNE DR AVALON, NJ 08202-1158 (222)222-2222
Mailing Address 6880 DUNE DR AVALON, NJ 08202-1158
Payment Information Credit Card Payment Method Name of Card Holder ANDRES GONZALES Credit Card Number Expiration Date 0/0 Amount $ 649.00 Card H
ders Special Notes
Excess Flood Application
Insert applicable logo
Insert applicable company name Insert Address
City, State, Zip Office: Insert phone number Fax: Insert fax number
NO COVERAGE EXISTS UNTIL PAYMENT OF TOTAL PREMIUM IS RECEIVED AND THE WAITING PERIOD HAS EXPIRED. Please Include the following with this transmittal:
Premium Paid in Full.
Copy of Elevation Certificate.
Copy of the Underlying Flood Policy Declarations Page or
Application. Copy of Approval / Quote from Company if Applicable.
An Inspection will be Ordered for the Insured Location.
ALL PROPERTIES REQUIRE TWO PHOTOGRAPHS OF THE STRUCTURE SHOWING THE FRONT AND THE BACK.
05000 00000 XFLD XFLD 096600042098X00 00064900 NB 1121031 8
GXXX99.017 0905 0505 31-0084300 05/19/13
Insert Applicable logo Applicable Company Name
Policy Number Date of Notice 31 0007237272 X 17 05/19/13 5000 00000 XFLD
Excess Flood
Agent (813)877-7799 Sample Agent Sample Insured 103 CHESTNUT DR 7320 COX RUN DR FRANKLIN TN 37064-2318 FAIRVIEW TN 73062-9271
Confirmation of Cancellation Dear Insured,
We have received your request to cancel your insurance policy. Your policy has been cancelled as of the time and date indicated below.
Cancellation Requested By: Cancellation Effective: Insured Request 05/15/13 12:01 am Standard Time
This Policy Was Originally Issued By Bankers Insurance Company.
If you have any questions, please do not hesitate to call us at: 1-800-627-0000.
To Mortgagee/Lienholder: You are hereby notified that the agreement under the Mortgage/Loss Payable Clause payable to you as Mortgagee/Lienholder, which is a part of the above policy, issued to the above insured, is hereby cancelled (or terminated). In accordance with the conditions of the policy, said cancellation (or termination) is to be effective on and after the hour and date indicated above.
Copy Sent To: Insured, Agent, Lienholder
Insert applicable company name Insert company address
Insert City, State, Zip Code Company phone number
5000 00000 XFLD Declarations EXCESS FLOOD DECLARATIONS PAGE
Date of Issue 3/20/13
Policy Period Inception Date Producer From: 4/09/13 To: 4/09/14 12:01 am Standard Time at Property Location 4/09/13 12:01am
29-0087248
Sample Agent Sample Insured ONE 103 CHESTNUT DR Sample Insured Two FRANKLIN TN 37064-2318 7320 COX RUN DR
FAIRVIEW TN 37062-9271
Insured Location (if other than above)
7320 COX RUN DR, FAIRVIEW, TN 37062-9271
Policy Aggregate Limit of Liability Premium
Building
$ 110,000 is the aggregate amount payable under this Policy for all Building flood losses occurring during the Policy Term. Such aggregate amount shall apply in excess of the Limit of Building Coverage for each flood loss stated in D. below under the UNDERLYING FLOOD INSURANCE POLICY section of this Declarations, and shall be reduced by the amount of any loss payment made under the terms of this policy.
Contents 0 is the aggregate amount payable under this Policy for all Contents flood losses occurring during the Policy Term. Such
aggregate amount shall apply in excess of the Limit of Contents Coverage for each flood loss stated in E. below under the UNDERLYING FLOOD INSURANCE POLICY section of this Declarations, and shall be reduced by the amount of any loss payment made under the terms of this policy. Evaluation will not exceed actual cash value at time of loss.
Total
This policy has been issued by Bankers Insurance Company
Forms, Endorsements and Special Provisions:
BEFD99.102 0104 BEFD29.114 0104 BXXX99.206 1207
THESE DECLARATIONS TOGETHER WITH THE EXCESS FLOOD FORMS AND ENDORSEMENTS ISSUED TO FORM A PART THEREOF, COMPLETE THE ABOVE NUMBERED POLICY.
Deborah S Brcka St. Petersburg, Florida 4/09/13 Date
Countersigned by Authorized Representative
THIS IS NOT A BILL
Insert applicable logo here
Policy Number 29 0007033975 X 00
BEF 99.001 0610 29-0087248 3/20/13
350.00
.00
350.00
350.00
Post Firm
250,000 100,000
Grand Total Premium $
R a t i n g I n f o r m a t i o n Flood Zone: Al0 Construction Type: 0 Pre Firm No. of stories: 2 Occupancy/# of Family: Single Family Basement: N Elevation: 1 . 0
Underlying Flood Insurance Policy A. Insurer: FCIC B. Policy Number: 29-7700073676-00 C. Policy Term: 4/09/13 To 4/09/14 D. Limit of Building Coverage for each Flood Loss: $ E. Limit of Contents Coverage for each Flood Loss: $
31 0007033975 X 21
Loan Number: 1st Mortgagee SOUTHEAST NATL BANK OF CORAL WAY ISAOA 1699 CORAL WAY MIAMI FL 33145-2860
0519174
C
31-0087248
BEFD99.102 0104 29-0101075 4/25/13
Insert Applicable Logo
Policy Number Date
29 5500110390 X 00 4/25/13 5000 00000 XFLD
EXCESS FLOOD
DWELLING PROPERTY
POLICY
This Policy Jacket with the Excess Flood Policy Form Declarations Page and Endorsements, if any, issued to form a part thereof, completes the policy as numbered on the Declarations Page.
Bankers Insurance Company P. 0. Box 33060
St. Petersburg, Florida 33733 1-800-627-0000
YOUR EXCESS FLOOD DWELLING POLICY QUICK REFERENCE
DECLARATIONS PAGE
Your Name Location of Insured Property Policy Period Coverages
Policy Aggregate Limit of Liability
Underlying Flood Policy Information
I. Agreement ........................................................................................................................................................ 1
II. Definitions ......................................................................................................................................................... 1
III. Property Covered ............................................................................................................................................. 3
IV. Property Not Covered ...................................................................................................................................... 5
V. Exclusions ................................................................................................................................................. 6
VI. Deductibles ................................................................................................................................................ 7
VII. General Conditions .......................................................................................................................................... 7
VIII. Policy Aggregate Limit of Liability ................................................................................................................. 12
BEFD99.102 0104 29-0101075 4/25/13 Insert Applicable company name here
EXCESS FLOOD INSURANCE POLICY DWELLING FORM
PLEASE READ THE POLICY CAREFULLY. THE EXCESS FLOOD INSURANCE PROVIDED IS SUBJECT TO LIMITATIONS, RESTRICTIONS, AND EXCLUSIONS.
THIS POLICY COVERS ONLY:
1. A NON-CONDOMINIUM RESIDENTIAL BUILDING DESIGNED FOR PRINCIPAL USE AS A DWELLING PLACE FOR ONE TO FOUR FAMILES, OR
2. A SINGLE-FAMILY DWELLING UNIT IN A CONDOMINIUM BUILDING.
THIS POLICY IS EXCESS OF THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP) POLICY, WHICH IS LISTED ON THE
DECLARATIONS PAGE FOR THIS POLICY. AGREEMENT
We will pay you for direct physical loss by or from flood to your insured property in excess of the retained limit subject to all terms in this policy including the policy aggregate limit of liability as set forth in the declarations if you:
1. Have paid the correct premium;
2. Comply with all terms and conditions of this policy; and
3. Have furnished accurate information and statements.
4. Underlying flood insurance, pursuant to the NFIP, is kept in force.
We have the right to review the information you give us at any time and to revise your policy based on our review.
II. DEFINITIONS
A. In this policy, you and your refer to the insured(s) shown on the Declarations Page of this policy and your spouse, if a resident of the same household. "Insured(s)" includes: any mortgagee and loss payee named in the Application and Declarations Page, as well as any other mortgagee and loss payee determined to exist at the time of loss in the order of precedence. "We," "us," and our refer to the insurer.
Some definitions are complex because they are provided as they appear in the law or regulations, or result from court cases. The precise definitions are intended to protect you.
Flood, as used in this excess flood insurance policy, means:
1. A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
a. Overflow of inland or tidal waters;
b. Unusual and rapid accumulation or runoff of surface waters from any source.
B. The following are the other key definitions that we use in this policy:
1. Act. The National Flood Insurance Act of 1968 and any amendments to it.
2. Actual Cash Value. The cost to replace an insured item of property at the time of loss, less the value of its physical depreciation.
Page 1 of 12
3. Application. The statement made and signed by you and your agent in applying for this policy. The application gives information we use to determine the eligibility of the risk, the kind of policy to be issued, and the correct premium payment. The application is part of this Excess Flood Insurance Policy. For us to issue you a policy, the correct premium payment must accompany the application.
4. Base Flood. A flood having a one percent chance of being equaled or exceeded in any given year.
5. Basement. Any area of the building, including any sunken room or sunken portion of a room, having its floor below ground level (subgrade) on all sides.
6. Building. A structure with two or more outside rigid walls and a fully secured roof that is affixed to a permanent site.
Building does not mean a gas or liquid storage tank or recreational vehicle, park trailer, or other similar vehicle. The building insured under this excess policy is only that building which is, in fact, covered under the underlying NFIP policy.
7. Cancellation. The ending of the insurance coverage provided by this policy before the expiration date.
8. Condominium. That form or ownership of real property in which each unit owner has an undivided interest in common elements.
9. Condominium Association. The entity made up of the unit owners responsible for the maintenance and operation of:
a. Common elements owned in undivided shares by unit owners; and
b. Other real property in which the unit owners have use rights;
where membership in the entity is a required condition of unit ownership.
10. Declarations Page. Summary of information you provided in the application for insurance. The Declarations Page also describes the term of the policy, limits of coverage, and displays the premium and our name. The Declarations Page is a part of this Excess Flood Insurance Policy.
11. Described Location. The location where the insured building(s) or personal property are found. The described location is shown on the Declarations Page.
12. Direct Physical Loss By or From Flood. Loss or damage to insured property, directly caused by a flood. There must be evidence of physical changes to the property.
13. Dwelling. A building designed for use as a residence for no more than four families or a single-family unit in a building under a condo-minium form of ownership.
14. Elevated Building. A building that has no basement and that has its lowest elevated floor raised above ground level by foundation walls, shear walls, posts, piers, pilings, or columns.
15. Emergency Program. The initial phase of a community's participation in the National Flood Insurance Program. During this phase, only limited amounts of insurance are available under the Act.
16. Fungi. Any type or form of fungus, including mold or mildew, and any micro toxins, spores, scents or by-products produced or released by fungi.
17. Improvements. Fixtures, alterations, instal-lations, or additions comprising a part of the insured dwelling or the apartment in which you reside.
18. Mudflow. A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water. Other earth movements, such as landslide, slope failure, or a saturated soil mass moving by liquidity down a slope are not mudflows.
19. National Flood Insurance Program (NFIP). The program of flood insurance coverage and floodplain management administered under the Act and applicable Federal regulations in Title 44 of the Code of Federal Regulations, Subchapter B.
20. Policy. The entire written contract between you and us. It includes:
a. This printed form;
b. The application and Declarations Page;
c. Any endorsement(s) that may be issued; and
d. Any renewal certificate indicating that coverage has been instituted for a new policy and new policy term.
Only one dwelling, which you specifically described in the application, may be insured under this policy.
21. Pollutants. Substances that include, but are not limited to, any solid, liquid, gaseous, or thermal
Page 2 of 12
BEFD99.102 0104 29-0101075 4/25/13 Company logo
irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste. "Waste includes, but is not limited to, materials to
be recycled, reconditioned, or reclaimed.
22. Post-FIRM Building. A building for which con-struction or substantial improvement occurred after December 31, 1974, or on or after the effective date of the initial Flood Insurance Rate Map (FIRM), whichever is later.
23. Retained limit. The total limits of any underlying insurance or any other insurance that applies to a covered loss which are available to an insured; or would have been available except for the bankruptcy or insolvency of an insurer providing underlying insurance.
24. Special Flood Hazard Area. An area having special flood and shown on a Flood Hazard Boundary Map or Flood Insurance Rate Map as
Zone A, AO, A1-A30, AE, A99, AH, AR, AR/A, AR/AE, AR/AH, AR/AO, AR/A1-A30, V1-V30, VE or V.
25. Underlying insurance. Any NFIP policy providing the "insured" with primary insurance covering the property listed in the Declarations and at limits no less than the retained policy limits shown for that property listed in the Declarations.
26. Unit. A single-family unit you own in a condominium building.
27. Continuous Lake Flooding – flooding from a closed basin lake which is a natural lake from which water leaves primarily through evaporation. Most of the nations closed basin lakes are in the western half of the United States where annual evaporation exceeds annual precipitation.
III. PROPERTY COVERED
A. COVERAGE A - BUILDING PROPERTY
We insure, in excess of the retained limit, against direct physical loss by or from flood to:
1. The dwelling at the described location.
2. Additions and extensions attached to and in contact with the building by means of a common interior wall that is not a solid load-bearing wall are always considered part of the dwelling and cannot be separately insured.
3. Materials and supplies to be used for construction, alteration, or repair of the dwelling or a detached garage while the materials and supplies are stored in a fully enclosed building at the described location or on an adjacent property.
4. A building under construction, alteration, or repair at the described location:
a. If the structure is not yet walled or roofed as described in the definition for building, then coverage applies.
(1) Only while such work is in progress; or
(2) If such work is halted, only for a period of up to 90 continuous days thereafter.
However, coverage does not apply until the building is walled and roofed if the lowest floor, including the basement floor, of a non-elevated
Page 3 of 12
building or the lowest elevated floor of an elevated building is:
(1) Below the base flood elevation in Zones AH, AE, A1-A30, AR, AR/AE, AR/AH, AR/A1-A30, AR/A, AR/AO; or
(2) Below the base flood elevation adjusted to include the effect of wave action in Zones VE or V1-V30.
The lowest floor levels are based on the bottom of the lowest horizontal structural member of the floor in Zones VE or V1-V30, and the top of the floors in Zones AH, AE, Al-A30, AR, AR/AE, AR/AH, AR/A1-A30, AR/A, AR/AO.
5. The following items of property which are covered under Coverage A only:
a. Awnings and canopies;
b. Blinds;
c. Built-in dishwashers;
d. Built-in microwave ovens;
e. Carpet permanently installed over unfinished flooring;
f. Central air conditioners;
g. Elevator equipment;
h. Fire sprinkler systems;
i. Walk-in freezers;
j. Furnaces and radiators;
k. Garbage disposal units;
I. Hot water heaters, including solar water heaters;
m. Light fixtures;
n. Outdoor antennas and aerials fastened to buildings;
(9) Heat pumps;
(10) Nonflammable insulation in a basement;
(11) Pumps and tanks used in solar energy systems;
(12) Stairways and staircases attached to the building, not separated from it by elevated walkways;
(13) Sump pumps;
(14) Water softeners and the chemicals in them, water filters, and faucets installed as an integral part of the plumbing system
(15) Well water tanks and pumps; o. Permanent ly instal led cupboards, bookcases,
cabinets, paneling, and wallpaper; (16) Required utility connections for any item in this list; and
p. Plumbing fixtures;
q. Pumps and machinery for operating pumps;
r. Ranges, cooking stoves, and ovens;
s. Refrigerators; and
t. Wall mirrors, permanently installed.
6. Items of property in a building enclosure below the lowest elevated floor of an elevated post-FIRM building located in Zones A1-A30, AE, AH, AR, AR/A, AR/AE, AR/AH, AR/A1-A30, V1-V30, or VE, or in a basement, regardless of the zone. Coverage is limited to the following:
a. Any of the following items, if installed in their functioning locations and, if necessary for operation, connected to a power source:
(1) Central air conditioners;
(2) Cisterns and the water in them;
(3) Drywall for walls and ceilings in a basement and the cost of labor to nail it, unfinished and unfloated and not taped, to the framing;
(4) Electrical junction and circuit breaker boxes;
(5) Electrical outlets and switches;
(6) Elevators, dumbwaiters, and related equipment, except for related equipment installed below the base flood elevation after September 30, 1987;
(7) Fuel tanks and the fuel in them;
(8) Furnaces and water heaters;
(17) Footings, foundations, posts, pilings, piers, or other foundation walls and anchorage systems required to support a building.
b. Clean-up of these items.
B. COVERAGE - PERSONAL PROPERTY
1. If you have purchased personal property coverage, we insure, in excess of the retained limit, against direct physical loss by or from flood to personal property inside a building at the described location for property owned by you or your household family members. Personal property in a building that is not fully enclosed must be secured to prevent floatation out of the building, if the personal property does float out during a flood, it will be conclusively presumed that it was not reasonably secured. In that case there is no coverage for such property.
2. Coverage for personal property includes the following property subject to B.1. above, which is covered under Coverage B only:
a. Air conditioning units, portable or window type;
b. Carpets, not permanently installed, over unfinished flooring;
c. Carpets over finished flooring;
d. Clothes washers and dryers;
e. "Cook-our grills;
f. Food freezers, other than walk-in, and food in any freezer; and
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Company logo
g. Portable microwave ovens and portable dishwashers.
3. Coverage for items of property in a building enclosure below the lowest elevated floor of an elevated post-FIRM building located in Zones A1-A30, AE, AH, AR, AR/A, AR/AE, AR/AH, AR/A1-A30, V1-V30, or VE, or in a basement, regardless of the zone, is limited to the following items, if installed in their functioning locations and, if necessary for operation, connected to a power source:
a. Air conditioning units, portable or window type;
b. Clothes washers and dryers;
c. Food freezers, other than walk-in, and food in any freezer.
4. If you are the owner of a unit and have insured personal property under Coverage B in this policy, we will also cover, in excess of the retained limit, your interior walls, floor, and ceiling (not otherwise covered under a flood insurance policy purchased by your condominium association) for not more than 10
BEFD99.102 0104 29-0101075 4/25/13
percent of the limit of liability shown for personal property on the Declarations Page. Use of this insurance is at your option but reduces the personal property limit of liability.
5. Special Limits. We will pay no more than $2,500, in excess of the retained limit, for any one loss to one or more of the following kinds of personal property:
a. Artwork, photographs, collectibles, or memo- rabilia, including but not limited to, porcelain or other figures, and sports cards;
b. Rare books or autographed items;
c. Jewelry, watches, precious and semi-precious stones, or articles of gold, silver, or platinum;
d. Furs or any article containing fur which re-presents its principal value; or
e. Personal property used in any business.
6. We will pay only for the functional value of antiques.
IV. PROPERTY NOT COVERED
We do not cover any of the following property:
1. Personal property not inside the fully enclosed building;
2. A building, and personal property in it, located entirely in, on, or over water or seaward of mean high tide if it was constructed or substantially improved after September 30, 1982;
3. Open structures, including a building used as a boathouse or any structure or building into which boats are floated, and personal property located in, on, or over water;
4. Recreational vehicles including travel trailers, whether affixed to a permanent foundation or on wheels;
5. A manufactured home (a "manufactured home," also known as a mobile home, is a structure: built on a permanent chassis, transported to its site in one or more sections, and affixed to a permanent foundation); or
6. Self-propelled vehicles or machines, including their parts and equipment. However, we do cover self-propelled vehicles or machines not licensed for use on public roads that are:
a. Used mainly to service the described location, or
b. Designed and used to assist handicapped persons,
while the vehicles or machines are inside a building at the described location;
7. Land, land values, lawns, trees, shrubs, plants, growing crops, or animals;
8. Accounts, bills, coins, currency, deeds, evidences of debt, medals, money, scrip, stored value cards, postage stamps, securities, bullion, manuscripts, or other valuable papers;
9. Underground structures and equipment, including wells, septic tanks, and septic systems;
10. Those portions of walks, walkways, decks, drive-ways, patios, and other surfaces, all whether protected by a roof or not, located outside the perimeter, exterior walls of the insured building;
11. Containers, including related equipment, such as, but not limited to, tanks containing gases or liquids;
12. Buildings or units and all their contents if more than 49 percent of the actual cash value of the building is below ground, unless the lowest level is at or above the base flood elevation and is below ground by reason of earth having been used as insulation
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material in conjunction with energy efficient building techniques;
13. Fences, retaining walls, seawalls, bulkheads, wharves, piers, bridges, and docks;
14. Aircraft or watercraft, or their furnishings and equipment;
15. Hot tubs and spas that are not bathroom fixtures, and swimming pools, and their equipment such as, but not limited to, heaters, filters, pumps, and pipes, wherever located;
16. Property not eligible for flood insurance pursuant to the provisions of the Coastal Barrier Improvement Act and amendments to these acts;
17. Personal property you own in common with other unit owners comprising the membership of condominium association;
18. Manufactured home, mobile home, or travel trailer with or without wheels, of any kind;
19. Any property not falling within the scope of the underlying NFIP policy.
V . E X C L U S I O N S
A. We only provide coverage for direct physical loss by or from flood, which means that we do not pay you for:
1. Loss of revenue or profits;
2. Loss of access to the insured property or described location;
3. Loss of use of the insured property or described location;
4. Loss from interruption of business or production;
5. Any additional living expenses incurred while the insured building is being repaired or is unable to be occupied for any reason;
6. The cost of complying with any ordinance or law requiring or regulating the construction, demolition, remodeling, renovation, or repair of property, including removal of any resulting de-bris, including any increased cost of compliance;
7. Any other economic loss.
B. We do not insure a loss directly or indirectly caused by a flood that is already in progress at the time and date:
1. The policy term begins; or
2. Coverage is added at your request.
C. We do not insure for loss to property caused directly by earth movement even if the earth movement is caused by flood. Some examples of earth movement that we do not cover are:
1. Earthquake;
2. Landslide;
3. Land subsidence;
4. Sinkholes;
5. Destabilization or movement of land that results from accumulation of water in subsurface land area; or
6. Gradual erosion.
7. Mudflows.
D. We do not insure for direct physical loss caused directly or indirectly by any of the following:
1. The pressure or weight of ice;
2. Freezing or thawing;
3. Rain, snow, sleet, hail, or water spray;
4. Water, moisture, mildew, or mold damage that results primarily from any condition:
a. Substantially confined to the dwelling; or
b. That is within your control, including but not limited to:
(1) Design, structural, or mechanical defects;
(2) Failure, stoppage, or breakage of water or sewer lines, drains, pumps, fixtures, or equipment; or
(3) Failure to inspect and maintain the property after a flood recedes;
5. Water or waterborne material that:
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Company BEFD99.102 0104 29-0101075 4/25/13 Logo
29 5500110390 X 00
a. Backs up through sewers or drains;
b. Discharges or overflows from a sump, sump pump, or related equipment; or
c. Seeps or leaks on or through the covered property;
unless there is a flood in the area and the flood is the proximate cause of the sewer or drain backup, sump pump discharge or overflow, or seepage of water;
6. The pressure or weight of water unless there is a flood in the area and the flood is the proximate cause of the damage from the pressure or weight of water;
7. Power, heating or cooling failure unless the failure results from direct physical loss by or from flood to power, heating, or cooling equipment on the described location;
8. Theft, fire, explosion, wind, or windstorm;
9. Anything you or any member of your household do or conspire to do to cause loss by flood deliberately; or
10. Alteration of the insured property that sig-nificantly increases the risk of flooding.
11. We do not pay for the testing for, clean up or monitoring of pollutants.
12. We do not pay for loss caused directly or indirectly by Fungi.
13. We do not pay for loss caused directly or indirectly by acts of terrorism, including but not limited to war, military action or terrorist activity.
E. We do not insure for loss to any building or personal property located on land leased from the Federal Government, arising from or incidental to the flooding of the land by the Federal Government, where the lease expressly holds the Federal Government harmless under flood insurance issued under any Federal Government program.
VI. DEDUCTIBLES
A. The amount of the deductible for each loss occurrence is determined as follows: We shall be liable only to the extent the loss in any one occurrence exceeds a sum equal to the maximum amount of Flood Insurance permitted by the Act with respect to the insured property, whether or not such insurance is in force or
collectible at any time of loss. If any time during the policy period, the National Flood Insurance Program increases their maximum amount of Flood Insurance permitted by the Act, our policy will be excess over the new maximum limit.
VII. GENERAL CONDITIONS
Maintenance of Underlying Insurance - You must maintain the underlying insurance at the full limits stated in the Declarations with no change to more restrictive conditions during the term of this policy. If any underlying insurance is cancelled or not renewed and not replaced, you must notify us at once.
If you fail to maintain underlying insurance, we will not be liable under this policy for more than we would have been liable if that underlying insurance was in effect.
A. Pairs and Sets
In case of loss to an article that is part of a pair or set, we will have the option of paying you:
1. An amount equal to the cost of replacing the lost, damaged, or destroyed article, minus its depreciation; or
2. The amount that represents the fair proportion of the total value of the pair or set that the lost, damaged, or destroyed article bears to the pair or set.
B. Policy Period.
This policy applies only to loss which occurs during the policy period.
C. Concealment or Fraud and Policy Voidance
With respect to all insureds under this policy, this policy:
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a. Is void;
b. Has no legal force or effect;
c. Cannot be renewed; and
d. Cannot be replaced by a new excess flood policy; if, before or after a loss, you or any other insured or your agent at any time:
(1) Intentionally concealed or misrepresented any material fact or circumstances;
(2) Engaged in fraudulent conduct; or
(3) Made false statements;
relating to this policy or any other Flood insurance policy.
2. This policy will be void as of the date the wrongful acts described in C. 1. above were committed.
3. Fines, civil penalties, and imprisonment under applicable laws may also apply to the acts of fraud or concealment described above.
4. This policy is also void for reasons other than fraud, misrepresentation, or wrongful act. This policy is void from its inception and has no legal force under the following conditions:
a. If the property is located in a community that was not participating in the NFIP on the policy's inception date and did not join or reenter the program during the policy term and before the loss occurred; or
b. If the property listed on the application is otherwise not eligible for coverage under the NFIP.
D. Other Insurance
Insurance afforded under this policy is excess and shall not contribute with or pro-rate with any other policy of flood insurance, or any other insurance covering loss by flood until the limits of such flood insurance, or other insurance have been exhausted.
E. Amendments, Waivers, Assignment
This policy cannot be changed nor can any of its provisions be waived without the express written consent of this company. Change in the assignment of this policy may only occur if we endorse the policy in writing.
Our request for an appraisal or examination will not waive any of our rights.
F. Cancellation
a. You may cancel this policy at any time by returning it to us or by letting us know in writing of the date cancellation is to take effect.
b. We may cancel this policy only for the reasons stated below by letting you know in writing of the date cancellation takes effect. This cancellation notice may be delivered to you or mailed to you at your mailing address shown in the Declarations.
Proof of mailing will be sufficient proof of notice.
(1) When you have not paid the premium, we may cancel at any time by letting you know at least 10 days before the date cancellation takes effect.
(2) When this policy has been in effect for less than 60 days and is not a renewal with us, we may cancel for any reason by letting you know at least 10 days before the date cancellation takes effect.
(3) When this policy has been in effect for 60 days or more, or at any time if it is a renewal with us, we may cancel:
(a) If there has been a material misre-representation of fact which, if known to us, would have caused us not to issue the policy; or
(b) If the risk has changed substantially since the policy was issued.
This can be done by letting you know at least 30 days before the date cancellation takes effect.
(4) When this policy is written for a period of more than one year, we may cancel for any reason at anniversary by letting you know at least 30 days before the date cancellation takes effect.
c. When this policy is cancelled, the premium for the period from the date of cancellation to the expiration date will be refunded pro rata.
d. If the return premium is not refunded with the notice of cancellation or when this policy is returned to us, we will refund it within a reasonable time after the date cancellation takes effect.
G. Nonrenewal of the Policy Your
policy will not be renewed:
1. If the community where you covered property is located stops participating in the NFIP; or
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BEFD99.102 0104 29-0101075 4/25/13 Company logo 29 5500110390 X 00
2. If your building has been declared ineligible under Section 1316 of the Act.
3. You may elect not to renew this policy. You may do so by giving written notice to us prior to the end of the policy period or by not paying the renewal premium.
4. We may elect not to renew this policy. We may do so by delivering to you, or mailing to you at your mailing address shown in the Declarations Page, written notice at least 45 days before the expiration date of this policy.
H. Policy Renewal
1. This policy will expire at 12:01 a.m. on the last day of the policy term.
2. We must receive payment of the appropriate renewal premium prior to the expiration date of the policy for continuously uninterrupted coverage.
I. Conditions Suspending or Restricting Insurance
We are not liable for loss that occurs while there is a hazard that is increased by any means within your control or knowledge.
J. Insurable Interest and Limit of Liability.
Even if more than one person has an insurable interest in the property covered, we will not be liable in any one loss:
1. To the insured for more than the amount of the insured's interest at the time of loss; or
2. For more than the applicable limit of liability.
K. Requirements in Case of Loss
In case of a flood loss to insured property, you must:
1. Give prompt written notice to us;
2. As soon as reasonably possible, separate the damaged and undamaged property, putting it in the best possible order so that we may examine it;
3. Prepare an inventory of damaged property showing the quantity, description, actual cash value, and amount of loss. Attach all bills, receipts, and related documents;
4. Send to us, within 60 days after our request, your signed, sworn proof of loss which sets forth, to the best of your knowledge and belief:
a. The date and time of loss;
b. A brief explanation of how the loss happened;
c. Your interest (for example "owner) and the interest, if any, of others in the damaged property;
d. Details of any other insurance that may cover the loss;
e. Changes in title or occupancy of the covered property during the term of the policy;
f. Specifications of damaged buildings and detailed repair estimates;
g. Names of mortgagees or anyone else having a lien, charge, or claim against the covered property;
h. Details about who occupied any insured building at the time of loss and for what purpose; and
i. The inventory of damaged personal property described in K.3. above.
5. You must cooperate with the adjuster or re-presentative in the investigation of the claim.
6. You must comply with the claims procedures of the underlying NFIP policy and make a good faith effort to obtain all available coverages under that policy.
L. Our Options After a Loss
Options we may, in our sole discretion, exercise after loss include the following:
1. At such reasonable times and places that we may designate, you must:
a. Show us or our representative the damaged property;
b. Submit to examination under oath, while not in the presence of another insured, and sign the same; and
c. Permit us to examine and make extracts and copies of:
(1) Any policies of property insurance insuring you against loss and the deed establishing your ownership of the insured real property;
(2) Condominium association documents including the Declarations of the condominium, its Articles of Association or Incorporation, Bylaws, rules and regulations, and other relevant documents if you are a unit owner in a condominium building; and
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(3) All books of accounts, bills, invoices and other vouchers, or certified copies pertaining to the damaged property if the originals are lost.
2. We may request, in writing, that you furnish us with a complete inventory of the lost, damaged, or destroyed property, including:
a. Quantities and costs;
b. Actual cash value or replacement cost (whichever is appropriate);
c. Amounts of loss claimed;
d. Any written plans and specifications for repair of the damaged property that you can reasonably make available to us; and
e. Evidence that prior flood damage has been repaired.
3. If we give you written notice within 30 days after we receive your signed, sworn proof of loss, we may:
a. Repair, rebuild, or replace any part of the lost, damaged, or destroyed property with material or property of like kind and quality or its functional equivalent; and
b. Take all or any part of the damaged property at the value we agree upon or its appraised value.
M. No Benefit to Bailee
No person or organization, other than you, having custody of the covered property will benefit from this insurance.
N. Loss Payment
1. We will adjust all losses with you. We will pay you unless some other person or entity is named in the policy or is legally entitled to receive payment. Loss will be payable 60 days after we receive your proof of loss and:
a. We reach an agreement with you;
b. There is an entry of a final judgment; or
c. There is a filing of an appraisal award with us, as provided in VII.Q.
0. Abandonment
You may not abandon to us damaged or undamaged property insured under this policy.
p. Salvage
We may permit you to keep damaged insured property after a loss, and we will reduce the amount of the loss
proceeds payable to you under the policy by the value of the salvage.
Q. Appraisal
If you and we fail to agree on the actual cash value or, if applicable, replacement cost of your damaged property to settle upon the amount of loss, then either may demand an appraisal of the loss. In this event, you and we will each choose a competent and impartial appraiser within 20 days after receiving a written request from the other. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a court of record in the State where the covered property is located. The appraisers will separately state the actual cash value, the replacement cost, and the amount of loss to each item. If the appraisers submit a written report of an agreement to us, the amount agreed upon will be the amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will set the amount of actual cash value and loss, or if it applies, the replacement cost and loss. Each party will:
1. Pay its own appraiser; and
2. Bear the other expenses of the appraisal and umpire equally.
R. Mortgage Clause
The word "mortgagee includes trustee.
Any loss payable under Coverage A - Building Property will be paid to any mortgagee of whom we have actual notice as well as any other mortgagee or loss payee determined to exist at the time of loss, and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
All of the terms of this policy apply to the mortgagee.
S. Suit Against Us
You may not sue us to recover money under this policy unless you have complied with all the requirements of the policy. If you do sue, you must start the suit within 1 year after the date of the written denial of all or part of the claim.
T. Subrogat ion
Whenever we make a payment for a loss under this policy, we are subrogated to your right to recover for that loss from any other person. That means that your right to recover for a loss that was partly or totally caused by someone else is automatically transferred to us, to the extent that we have paid you for the loss. We may require you to acknowledge this transfer in writing. After the loss, you may not give up our right to recover this money or do anything that would
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BEFD99.102 0104 29-0101075 4/25/13 Company logo 29 5500110390 X 00
prevent us from recovery. If you make any claim against any person who caused your loss and recover any money, you must pay us back first before you may keep any of that money.
U. Continuous Lake Flooding
1. If your insured building has been flooded by rising lake waters continuously for 90 days or more and it appears reasonably certain that a continuation of this flooding will result in a covered loss to the insured building equal to or greater than the building policy limits plus the deductible or the maximum payable under the policy for any one building loss, we will pay you the lesser of these two amounts without waiting for the further damage to occur if you sign a release agreeing:
a. To make no further claim under this policy;
b. Not to seek renewal of this policy; and
c. Not to seek a premium refund for current or prior terms.
If the policy term ends before the insured building has been flooded continuously for 90 days, the provisions of this paragraph U.1. will apply when the insured building suffers a covered loss before the policy term ends.
V. Loss Settlement
1. Introduction
This policy provides two methods of settling losses, after application of the retained limit: Replacement Cost, and Actual Cash Value. Each method is used for a different type of property as explained in a. and b. below:
a. Replacement Cost loss settlement, described in V.2. below, applies to a single-family dwelling provided:
(1) It is your principal residence, which means that, at the time of loss, you or your spouse lived there for at least 80 percent of:
(a) The 365 days immediately preceding the loss; or
(b) The period of your ownership, if you owned the dwelling for less than 365 days; and
(2) At the time of loss, the amount of insurance in this policy that applies to the dwelling, combined with the underlying flood policy limits, is 80 percent or more of its full replacement cost immediately before the loss, or is the maximum amount of insurance available under the Excess Flood Policy.
b. Actual Cash Value loss settlement applies to a single-family dwelling not subject to replacement cost and to the property listed in V.3. below.
2. Replacement Cost Loss Settlement
The following loss settlement conditions apply to a single-family dwelling described in V.1.a. above:
a. We will pay to repair or replace the damaged dwelling after application of the retained limit and without deduction for depreciation, but not more than the least of the following amounts:
(1) The building limit of liability shown on your Declarations Page;
(2) The replacement cost of that part of the dwelling damaged, with materials of like kind and quality, and for like use; or
(3) The necessary amount actually spent to repair or replace the damaged part of the dwelling for like use.
b. If the dwelling is rebuilt at a new location, the cost described above is limited to the cost that would have been incurred if the dwelling had been rebuilt at its former location.
c. When the full cost of repair or replacement is more than $1,000 or more than 5 percent of the whole amount of insurance that applies to the dwelling, we will pay no more than the actual cash value of the damage unless and until actual repair or replacement is completed.
d. You may disregard the replacement cost conditions above and make claim under this policy for loss to dwellings on an actual cash value basis. You may then make claim for any additional liability according to V.2.a., b., and c. above, provided you notify us of your intent to do so within 180 days after the date of loss.
3. Actual Cash Value Loss Settlement
The types of property noted below are subject to actual cash value [or in the case of V3.a (2) below, pro-portional] loss settlement.
a. A dwelling, at the time of loss, when the amount of insurance on the dwelling is both less than 80 percent of its full replacement cost immediately before the loss and less than the maximum amount of insurance available under the Excess Flood Policy. In that case, we will pay the greater of the following amounts, but not more than the amount of insurance that applies to that dwelling:
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(1) The actual cash value as defined in II.B.2, of the damaged part of the dwelling; or
(2) A proportion of the cost to repair or replace the damaged part of the dwelling, without deduction for physical depreciation and after application of the retained amount. This proportion is determined as follows: If 80 percent of the full replacement cost of the dwelling is less than the maximum amount of insurance available under the Excess Flood Policy, then the proportion is determined by dividing the actual amount of insurance on the dwelling by the amount of insurance that represents 80 percent of its full replacement cost. But if 80 percent of the full replacement cost of the dwelling is greater than the maximum amount of insurance available under the Excess Flood Policy, then the proportion is determined by dividing the actual amount of insurance on the dwelling by the maximum amount of insurance available under the Excess Flood Policy.
b. A two-, three-, or four-family dwelling.
c. A unit that is not used exclusively for single-family dwelling purposes.
d. Personal property.
e. Appliances, carpets, and carpet pads.
f. Outdoor awnings, outdoor antennas or aerials of any type, and other outdoor equipment.
g. Any property covered under this policy that is abandoned after a loss and remains as debris anywhere on the described location.
4. Amount of insurance Required
To determine the amount of insurance required for a dwelling immediately before the loss, do not include the value of:
a. Footings, foundations, piers, or any other structures or devices that are below the undersurface of the lowest basement floor and support all or part of the dwelling;
b. Those supports listed in V.4.a. above that are below the surface of the ground inside the foundation walls if there is no basement; and
c. Excavations and underground flues, pipes, wiring, and drains.
W. Uncollectibility of Underlying Insurance
The insurance provided by this Policy is excess over the underlying flood insurance policy and shall in no event drop down, take the place of, or substitute, in whole or in part, for the amount of such underlying insurance which may be uncollectible for any reason.
X. Liberalization Clause
If we make a change that broadens your coverage under this edition of our policy, but does not require any additional premium, then that change will automatically apply to your insurance as of the date we implement the change, provided that this implementation date falls within 60 days before, or during, the policy term stated on the Declarations Page. This liberalization clause does not apply to changes implemented through introduction of a subsequent edition of our policy.
h. A dwelling that is not your principal residence.
VIII. POLICY AGGREGATE LIMIT OF LIABILITY
A. The most we will pay for all flood losses during the policy term is the aggregate limit specified in the Declarations Page. The aggregate limit:
1. Shall apply for each covered flood loss in excess of the retained limit of Building and Contents coverage specified in the Declarations Page as the underlying flood insurance policy or the actual policy limit, whatever is higher.
2. Shall be reduced by the amount of any loss payment under this policy. We will only pay for the amount of any loss covered under this policy
after the insurer issuing the underlying flood insurance policy:
a. Has paid; or
b. Becomes legally obligated to pay; or
c. Would be legally obligated to pay, if such policy was in force at the time of the loss, the full amount of the limit of Building or Contents coverage for each flood loss specified in the Declarations as applicable to the underlying flood insurance policy.
In witness whereof, we have caused this policy to be executed and attested, and, if required by state law, this policy shall not be valid unless countersigned by our authorized representative.
Secretary President Page 12 of 12
Insert applicable company BEFD41.114 0302 Logo here 41-000001 05/17/13
Insert applicable company name here 41 0000043003 X 00 05/17/13
SPECIAL PROVISIONS — TENNESSEE (Excess Flood Dwelling Form)
ARTICLE VII — GENERAL CONDITIONS
Under item F. Cancellation paragraph (b.) is deleted and replaced by the following:
(b.) We may cancel this policy only for the reasons stated below by letting you know in writing of the date cancellation takes effect. This cancellation notice may be delivered to you, or mailed to you at your mailing address shown in the Declarations.
Proof of mailing shall be sufficient proof of notice.
1) When this policy has been in effect for less than 60 days and not a renewal with us, we may cancel for any reason without prior notice.
2) When this policy has been in effect for 60 days or more, or at any time if it is a renewal with us, we may cancel:
a. If there is conviction of named insured of a crime having as one of its necessary elements an act increasing any hazard insured against
b. If there is evidence of fraud or material misrepresentation in connection with the application, policy, or presentation of a claim
c. If there is failure to comply with written loss control recommendations
d. If there is a material change in risk
e. Upon determination by the commissioner that the continuation of the policy would jeopardize the company’s solvency or place us in violation of insurance laws
f. If there is a violation or breach of policy terms or conditions
g. If there is any other reason approved by the commissioner
This can be done without prior notification of cancellation.
Under item G. Nonrenewal of the Policy, paragraph (4) is deleted and replaced by the following:
(4) We may elect not to renew this policy. We may do so by delivering to you, or mailing to you at your mailing address shown in the Declarations, written notice at least 30 days before the expiration date of this policy but no more than 120 days. Proof of mailing will be sufficient proof of notice.
All other provisions of this policy apply.
BEFG99.102 0104 00-0094543 05/12/13
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Policy Number Date
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EXCESS FLOOD
GENERAL PROPERTY
POLICY
This Policy Jacket with the Excess Flood Policy Form Declarations Page and Endorsements, if any, issued to form a part thereof, completes the policy as numbered on the Declarations Page.
Bankers Insurance Company P. 0. Box 33060
St. Petersburg, Florida 33733 1-800-627-0000
C
YOUR EXCESS FLOOD GENERAL PROPERTY POLICY QUICK REFERENCE
DECLARATIONS PAGE
Your Name Location of Insured Property Policy Period Coverages
Policy Aggregate Limit of Liability
Underlying Flood Policy Information
I. Agreement ........................................................................................................................................................ 1
II. Definitions ......................................................................................................................................................... 1
III. Property Covered ............................................................................................................................................. 3
IV. Property Not Covered ...................................................................................................................................... 6
V. Exclusions ................................................................................................................................................. 7
VI. Deductibles ................................................................................................................................................ 8
VII. General Conditions .......................................................................................................................................... 8
VIII. Policy Aggregate Limit of Liability ................................................................................................................. 12
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EXCESS FLOOD INSURANCE POLICY GENERAL PROPERTY FORM
PLEASE READ THE POLICY CAREFULLY. THE EXCESS FLOOD INSURANCE PROVIDED IS SUBJECT TO LIMITATIONS, RESTRICTIONS, AND EXCLUSIONS.
THIS POLICY PROVIDES NO COVERAGE:
1. IN A REGULAR PROGRAM COMMUNITY, FOR A RESIDENTIAL CONDOMINIMUM BUILDING, AS DEFINED IN THIS POLICY; AND
2. EXCEPT FOR PERSONAL PROPERTY COVERAGE, FOR A UNIT IN A CONDOMINIUM BUILDING.
THIS POLICY IS EXCESS OF THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP) POLICY, WHICH IS LISTED ON THE DECLARATIONS PAGE FOR THIS POLICY.
I. AGREEMENT
We will pay you for direct physical loss by or from flood to your insured property in excess of the retained limit subject to all terms in this policy, including the policy aggregate limit of liability as set forth in the declarations if you:
1. Have paid the correct premium;
2. Comply with all terms and conditions of this policy;
3. Have furnished accurate information and statements; and,
4. Underlying flood insurance, pursuant to the NFIP, is kept in force.
We have the right to review the information you give us at any time and to revise your policy based on our review.
II. DEFINITIONS
A. In this policy, you and your refer to the insured(s) shown on the Declarations Page of this policy. Any mortgagee and loss payee named in the Application and Declarations Page, as well as any other mortgagee or loss payee determined to exist at the time of loss in the order of precedence. "We," "us," and our refer to the insurer.
Some definitions are complex because they are provided as they appear in the law or regulations, or result from court cases. The precise definitions are intended to protect you.
Flood, as used in this excess flood insurance policy, means:
1. A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
a. Overflow of inland or tidal waters;
b. Unusual and rapid accumulation or runoff of surface waters from any source:
B. The following are the other key definitions that we use in this policy:
1. Act. The National Flood Insurance Act of 1968 and any amendments to it.
2. Actual Cash Value. The cost to replace an insured item of property at the time of loss, less the value of its physical depreciation.
3. Application. The statement made and signed by you or your agent in applying for this policy. The application gives information we use to determine the eligibility of the risk, the kind of policy to be issued, and the correct premium payment. The application is part of this excess flood insurance policy. For us to issue you a policy, the correct premium payment must accompany the application.
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4. Base Flood. A flood having a one percent chance of being equaled or exceeded in any given year.
5. Basement. Any area of the building, including any sunken room or sunken portion of a room, having its floor below ground level (subgrade) on all sides.
6. Building. A structure with two or more outside rigid walls and a fully secured roof that is affixed to a permanent site.
Building does not mean a gas or liquid storage tank or a recreational vehicle, park trailer, or other similar vehicle. The building insured under this excess policy is only that building which is, in fact, covered under the underlying NFIP policy.
7. Cancellation. The ending of the insurance coverage provided by this policy before the expiration date.
8. Condominium. That form of ownership of real property in which each unit owner has an undivided interest in common elements.
9. Condominium Association. The entity made up of the unit owners responsible for the maintenance and operation of:
a. Common elements owned in undivided shares by unit owners; and
b. Other real property in which the unit owners have use rights;
where membership in the entity is a required condition of unit ownership.
10. Declarations Page. A computer-generated summary of information you provided in the application for insurance. The Declarations Page also describes the term of the policy, limits of coverage, and displays the premium and our name. The Declarations Page is a part of this excess flood insurance policy.
11. Described Location. The location where the insured building or personal property are found. The described location is shown on the Declarations Page.
12. Direct Physical Loss By or From Flood. Loss or damage to insured property, directly caused by a flood. There must be evidence of physical changes to the property.
13. Elevated Building. A building that has no basement and that has its lowest elevated floor raised above ground level by foundation walls, shear walls, posts, piers, pilings, or columns.
14. Fungi. Any type or form of fungus, including mold or mildew, and any micro toxins, spores, scents or by-products produced or released by fungi.
15. Emergency Program. The initial phase of a community's participation in the National Flood Insurance Program. During this phase, only limited amounts of insurance are available under the Act.
16. Improvements. Fixtures, alterations, instal-lations, or additions comprising a part of the insured building.
17. Mudflow. A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water. Other earth movements, such as landslide, slope failure, or a saturated soil mass moving by liquidity down a slope, are not mudflows.
18. National Flood Insurance Program (NFIP). The program of flood insurance coverage and floodplain management administered under the Act and applicable Federal regulations in Title 44 of the Code of Federal Regulations, Subchapter B.
19. Policy. The entire written contract between you and us. It includes:
a. This printed form;
b. The Application and Declarations Page;
c. Any endorsement(s) that may be issued; and
d. Any renewal certificate indicating that coverage has been instituted for a new policy and new policy term.
Only one building, which you specifically de-scribed in the application, may be insured under this policy.
20. Pollutants. Substances that include, but are not limited to, any solid, liquid, gaseous, or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals, and waste. "Waste" includes, but is not limited to, materials to be recycled, reconditioned, or reclaimed.
21. Post-FIRM Building. A building for which con-struction or substantial improvement occurred after December 31, 1974, or on or after the effective date of an initial Flood Insurance Rate Map (FIRM), whichever is later.
22. Regular Program. The final phase of a community's participation in the National Flood
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Insurance Program. In this phase, a Flood Insurance Rate Map is in effect and full limits of coverage are available under the Act.
23. Residential Condominium Building. A building, owned and administered as a condominium, containing one or more family units and in which at least 75 percent of the floor area is residential.
24. Retained Limit. The total limits of any underlying insurance or any other insurance that applies to a covered loss which are available to an insured; or would have been available except for the bankruptcy or insolvency of an insurer providing underlying insurance.
25. Special Flood Hazard Area. An area having special flood hazards, and shown on a Flood Hazard Boundary Map or Flood Insurance Rate Map as Zone A, AO, A1-A30, AE, A99, AH, AR, AR/A, AR/AH, AR/AO, AR/A1-A30, V1-V30, VE, or V.
26. Stock. Merchandise held in storage or for sale, raw materials, and in-process or finished goods, including supplies used in their packing or shipping. Stock does not include any property not
covered under Section IV. Property Not Covered, except the following:
a. Parts and equipment for self-propelled vehicles;
b. Furnishings and equipment for watercraft;
c. Spas and hot-tubs, including their equipment; and, swimming pool equipment.
27. Underlying insurance. Any NFIP policy providing the "insured" with primary insurance covering the property listed in the Declarations and at limits no less than the retained policy limits shown for that property listed in the Declarations.
28. Unit. A unit in a condominium building.
29. Continuous Lake Flooding–flooding from a closed basin lake which is a natural lake from which water leaves primarily through evaporation. Most of the nations closed basin lakes are in the western half of the United States where annual evaporation exceeds annual precipitation.
III. PROPERTY COVERED
A. COVERAGE A - BUILDING PROPERTY
We insure, in excess of the retained limit, against direct physical loss by or from flood to:
1. The building described on the Declarations Page at the described location. If the building is a condominium building and the named insured is the condominium association, Coverage A includes all units within the building and the improvements within the units, provided the units are owned in common by all unit owners.
2. Additions and extensions attached to and in contact with the building by means of a common interior wall that is not a solid load-bearing wall are always considered part of the building and cannot be separately insured.
3. The following fixtures, machinery, and equipment, which are covered under Coverage A only:
a. Awnings and canopies;
b. Blinds;
c. Carpet permanently installed over unfinished flooring;
d. Central air conditioners;
e. Elevator equipment;
f. Fire extinguishing apparatus;
g. Fire Sprinkler systems;
h. Walk-in freezers;
i. Furnaces;
j. Light fixtures;
k. Outdoor antennas and aerials attached to buildings;
I. Permanently installed cupboards, bookcases, paneling, and wallpaper;
m. Pumps and machinery for operating pumps;
n. Ventilating equipment;
o. Wall mirrors, permanently installed; and
p. In the units within the building, installed;
(1) Built-in dishwashers;
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4. Materials and supplies to be used for construction, alteration, or repair of the insured building while the materials and supplies are stored in a fully enclosed building at the described location or on an adjacent property.
5. A building under construction, alteration, or repair at the described location.
a. If the structure is not yet walled or roofed as described in the definition for building, then coverage applies:
(1) Only while such work is in progress; or
(2) If such work is halted, only for a period of up to 90 continuous days thereafter.
b. However, coverage does not apply until the building is walled and roofed if the lowest floor, including the basement floor, of a non-elevated building or the lowest elevated floor of an elevated building is:
(1) Below the base flood elevation in Zones AH, AE, A1-A30, AR, AR/AE, AR/AH, AR/A1-A30, AR/A, AR/AO; or
(2) Below the base flood elevation adjusted to include the effect of wave action in Zones VE or V1-V30.
The lowest floor levels are based on the bottom of the lowest horizontal structural member of the floor in Zones VE or V1-V30 and the top of the floor in Zones AH, AE, A1-A30, AR, AR/AE, AR/AH, AR/A1-A30, AR/A, AR/AO.
6. Items of property in a building enclosure below the lowest elevated floor of an elevated post-FIRM building located in Zones A1-A30, AE, AH, AR, AR/A, AR/AE, AR/AH, AR/A1-A30, V1-V30, or VE, or in a basement, regardless of the zone. Coverage is limited to the following:
a. Any of the following items, if installed in their functioning locations and, if necessary for operation, connected to a power source:
(1) Central air conditioners;
(2) Cisterns and the water in them;
(3) Drywall for walls and ceilings in a base-ment and the cost of labor to nail it, unfinished and unfloated and not taped, to the framing;
(4) Electrical junction and circuit breaker boxes;
(5) Electrical outlets and switches;
(6) Elevators, dumbwaiters, and related equip-ment, except for related equipment installed below the base flood elevation after September 30, 1987;
(7) Fuel tanks and the fuel in them;
(8) Furnaces and water heaters;
(9) Heat pumps;
(10) Nonflammable insulation in a basement;
(11) Pumps and tanks used in solar energy systems;
(12) Stairways and staircases attached to the building, not separated from it by elevated walkways;
(13) Sump pumps;
(14) Water softeners and the chemicals in them, water filters, and faucets installed as an integral part of the plumbing system;
(15) Well water tanks and pumps;
(16) Required utility connections for any item in this list; and
(17) Footings, foundations, posts, pilings, piers, or other foundation walls and anchorage systems required to support a building.
b. Clean-up of these items.
B. COVERAGE B - PERSONAL PROPERTY
1. If you have purchased personal property coverage, we insure, in excess of retained limit and subject to B.2., 3., and 4. below, against direct physical loss by or from flood to personal property inside the fully enclosed building:
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(2) Built-in microwave ovens;
(3) Garbage disposal units;
(4) Hot water heaters, including solar water heaters;
(5) Kitchen cabinets;
(6) Plumbing fixtures;
(7) Radiators;
(8) Ranges;
(9) Refrigerators; and
(10) Stoves.
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a. Owned solely by you, or in the case of a condo-minium, owned solely by the condominium association and used exclusively in the conduct of the business affairs of the condominium association; or
b. Owned in common by the unit owners of the condominium association.
2. When this policy covers personal property, coverage will be either for household personal property or other than household personal property, while within the insured building, but not both.
a. If this policy covers household personal property, it will insure household personal property usual to living quarters, that:
(1) Belongs to you, or a member of your household, or at your option:
(a) Your domestic worker;
(b) Your guest; or
b. If this policy covers other than household personal property, it will insure your:
(1) Furniture and fixtures;
(2) Machinery and equipment;
(3) Stock; and
(4) Other personal property owned by you and used in your business, subject to IV. Property Not Covered.
3. Coverage for personal property includes the following property, subject to B.1.a. and B.1.b. above, which is covered under Coverage B only:
a. Air conditioning units installed in the building;
b. Carpet, not permanently installed, over unfinished flooring;
c. Carpets over finished flooring;
d. Clothes washers and dryers;
e. "Cook-our grills;
f. Food freezers, other than walk-in, and food in any freezer;
g. Outdoor equipment and furniture stored inside the insured building;
h. Ovens and the like; and
i. Portable microwave ovens and portable dishwashers.
4. Coverage for items of property in a building enclosure below the lowest elevated floor of an elevated post-FIRM building located in Zones A1-A30, AE, AH, AR, AR/A, AR/AE, AR/AH, AR/A1-A30, V1-V30, or VE, or in a basement, regardless of the zone, is limited to the following items, if installed in their functioning locations and, if necessary for operation, connected to a power source:
a. Air conditioning units, portable or window type;
b. Clothes washers and dryers; and
c. Food freezers, other than walk-in, and food in any freezer.
5. Special Limits. We will pay no more than $2,500 for any loss to one or more of the following kinds of personal property:
a. Artwork, photographs, collectibles, or memorabilia, including, but not limited to, porcelain or other figures, and sport cards.
b. Rare books or autographed items;
c. Jewelry, watches, precious and semiprecious stones, or platinum;
d. Furs or any article containing fur which represents its principal value.
6. We will pay only for the functional value of antiques.
7. If you are a tenant, you may apply up to 10 percent of the Coverage B limit to improvements:
a. Made a part of the building you occupy; and
b. You acquired or made at your expense, even though you cannot legally remove them.
This coverage does not increase the amount of insurance that applies to insured personal property.
8. If you are a condominium unit owner, you may apply up to 10 percent of the Coverage B limit to cover loss to interior:
a. Walls;
b. Floors; and
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c. Ceilings; This coverage does not increase the amount of
that are not covered under a policy issued to the insurance that applies to insured personal property. condominium association insuring the con 9. If you are a tenant, personal property must be dominium building. inside the fully enclosed building.
IV. PROPERTY NOT COVERED
We do not cover any of the following property:
1. Personal property not inside the fully enclosed building;
2. A building, and personal property in it, located entirely in, on, or over water or seaward of mean high tide.
3. Open structures, including a building used as a boathouse or any structure or building into which boats are floated, and personal property located in, on, or over water.
4. Recreational vehicles and travel trailers., whether affixed to a permanent foundation or on wheels;
5. A manufactured home (a "manufactured home," also known as a mobile home, is a structure: built on a permanent chassis, transported to its site in one or more sections, and affixed to a permanent foundation);
6. Self-propelled vehicles or machines, including their parts and equipment. However, we do cover self-propelled vehicles or machines not licensed for use on public roads that are:
a. Used mainly to service the described location, or
b. Designed and used to assist handicapped persons, while the vehicles or machines are inside a building at the described location;
7. Land, land values, lawns, trees, shrubs, plants, growing crops, or animals;
8. Accounts, bills, coins, currency, deeds, evidences of debt, medals, money, scrip, stored value cards, postage stamps, securities, bullion, manuscripts, or other valuable papers;
9. Underground structures and equipment, including wells, septic tanks, and septic systems;
10. Those portions of walks, walkways, decks, driveways, patios, and other surfaces, all whether protected by a roof or not, located outside the perimeter, exterior walls of the insured building;
11. Containers, including related equipment, such as, but not limited to, tanks containing gases or liquids;
12. Buildings or units and all their contents if more than 49 percent of the actual cash value of the building or unit is below ground, unless the lowest level is at or above the base flood elevation and is below ground by reason of earth having been used as insulation material in conjunction with energy efficient building techniques;
13. Fences, retaining walls, seawalls, bulkheads, wharves, piers, bridges, and docks;
14. Aircraft or watercraft, or their furnishings and equipment;
15. Hot tubs and spas that are not bathroom fixtures, and swimming pools, and their equipment such as, but not limited to, heaters, filters, pumps, and pipes, wherever located;
16. Property not eligible for flood insurance pursuant to the provisions of the Coastal Barrier Resources Act and the Coastal Barrier Improvement Act of 1990 and amendments to these acts;
17. Personal property owned by or in the care, custody, or control of a unit owner, except for property of the type and under the circumstances set forth under Coverage B - Personal Property;
18. A residential condominium building located in a Regular Program community.
19. Any property not falling within the scope of the underlying NFIP policy.
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V. EXCLUSIONS
A. We only provide coverage for direct physical loss by or from flood, which means that we do not pay you for:
1. Loss of revenue or profits;
2. Loss of access to the insured property or described location;
3. Loss of use of the insured property or described location;
4. Loss from interruption of business or production;
5. Any additional living expenses incurred while the insured building is being repaired or is unable to be occupied for any reason;
6. The cost of complying with any ordinance or law requiring or regulating the construction, demolition, remodeling, renovation, or repair of property, including removal of any resulting debris.
7. Any other economic loss.
B. We do not insure a loss directly or indirectly caused by a flood that is already in progress at the date and time:
1. The policy term begins; or
2. Coverage is added at your request.
C. We do not insure for loss to property caused directly by earth movement even if the earth movement is caused by flood. Some examples of earth movement that we do not cover are:
1. Earthquake;
2. Landslide;
3. Land subsidence; and land subsidence as a result of erosion;
4. Sinkholes;
5. Destabilization or movement of land that results from accumulation of water in subsurface land areas; or
6. Gradual erosion;
7. Mudflows.
D. We do not insure for direct physical loss caused directly or indirectly by:
1. The pressure or weight of ice;
2. Freezing or thawing;
3. Rain, snow, sleet, hail, or water spray;
4. Water, moisture, mildew, or mold damage that results primarily from any condition:
a. Substantially confined to the insured building; or
b. That is within your control including, but not limited to:
(1) Design, structural, or mechanical defects;
(2) Failure, stoppage, or breakage of water or sewer lines, drains, pumps, fixtures, or equipment; or
(3) Failure to inspect and maintain the property after a flood recedes.
5. Water or waterborne material that:
a. Backs up through sewers or drains;
b. Discharges or overflows from a sump, sumppump, or related equipment; or
c. Seeps or leaks on or through insured property; unless there is a flood in the area and the flood is the proximate cause of the sewer or drain backup, sump pump discharge or overflow, or the seepage of water;
6. The pressure or weight of water unless there is a flood in the area and the flood is the proximate cause of the damage from the pressure or weight of water;
7. Power, heating, or cooling failure unless the failure results from direct physical loss by or from flood to power, heating, or cooling equipment situated on the described location;
8. Theft, fire, explosion, wind, or windstorm;
9. Anything you or your agent do or conspire to do to cause loss by flood deliberately; or
10. Alteration of the insured property that significantly increases the risk of flooding.
11. We do not insure for loss to any building or personal property located on land leased from the Federal Government, arising from or in-cidental to the flooding of the land by the Federal Government, where the lease expressly holds the Federal Government harmless under flood
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insurance issued under any Federal Government 13. We do not pay for loss caused directly or program. indirectly by acts of terrorism, including but not
12. We do not pay for loss caused directly or limited to war, military action, or terrorist activity. indirectly by Fungi.
VI. DEDUCTIBLES
A. The amount of the deductible for each loss occurrence is determined as follows: We shall be liable only to the extent the loss in any one occurrence exceeds a sum equal to the maximum amount of Flood Insurance permitted by the Act with respect to the insured property, whether or not
such insurance is in force or collectible at any time of loss. If any time during the policy period, the National Flood Insurance Program increases their maximum amount of Flood Insurance permitted by the Act, our policy will be excess over the new maximum limit.
VII. GENERAL CONDITIONS
Maintenance of Underlying Insurance - You must maintain the underlying insurance at the full limits stated in the Declarations Page. If any underlying insurance is cancelled or not renewed and not replaced, you must notify us at once.
If you fail to maintain underlying insurance, we will not be liable under this policy for more than we would have been liable if that underlying insurance was in effect.
( 3 ) Made fa lse s tatements ; re la t ing to th is A. Pairs and Sets policy or any other NFIP insurance.
In case of loss to an article that is part of a pair or set, we will have the option of paying you:
1. An amount equal to the cost of replacing the lost, damaged, or destroyed article, less depreciation; or
2. An amount that represents the fair proportion of the total value of the pair or set that the lost, damaged, or destroyed article bears to the pair or set.
B. Policy Period
This policy applies only to loss which occurs during the policy period.
C. Concealment or Fraud and Policy Voidance
1. With respect to all insureds under this policy, this policy:
a. Is void;
b. Has no legal force or effect;
c. Cannot be renewed; and
2. This policy will be void as of the date the wrongful acts described in C.1. were committed.
3. Fines, civil penalties, and imprisonment under applicable laws may also apply to the act of fraud or concealment described above.
4. This policy is also void for reasons other than fraud, misrepresentation, or wrongful act. This policy is void from its inception and has no legal force under the following conditions:
a. If the property is located in a community that was not participating in the NFIP on the policy's inception date and did not join or reenter the program during the policy term and before the loss occurred; or
b. If the property listed on the application is otherwise not eligible for coverage under the NFIP.
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d. Cannot be replaced by a new excess flood policy, if, before or after a loss, you or any other insured or your agent have at any time:
(1) Intentionally concealed or misrepresented any material fact or circumstance;
(2) Engaged in fraudulent conduct; or
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D. Other Insurance
Insurance afforded under this policy is excess and shall not contribute with or pro-rate with any other policy of flood insurance, or any other insurance covering loss by flood until the limits of such flood insurance, or other insurance, have been exhausted.
E. Amendments, Waivers, Assignment
This policy cannot be changed nor can any of its provisions be waived without the express written consent of this Company. No action that we take under the terms of this policy can constitute a waiver of any of our rights.
Our request for an appraisal or examination will not waive any of our rights.
F. Cancellation
1. You may cancel this policy at any time by returning it to us or by letting us know in writing of the date cancellation is to take effect.
2. We may cancel this policy only for the reasons stated below by letting you know in writing of the date cancellation takes effect. This cancellation notice may be delivered to you or mailed to you at your mailing address shown in the Declarations.
Proof of mailing will be sufficient proof of notice.
a. When you have not paid the premium, we may cancel at any time by letting you know at least 10 days before the date cancellation takes effect.
b. When this policy has been in effect for less than 60 days and is not a renewal with us, we may cancel for any reason by letting you know at least 10 days before the date cancellation takes effect.
3. When this policy has been effect for 60 days or more, or at any time if it is a renewal with us, we may cancel:
a. If there has been a material mis-representation of fact which, if known to us, would have caused us not to issue the policy; or
b. If the risk has changed substantially since the policy was issued.
This can be done by letting you know at least 30 days before the date cancellation takes effect.
4. When this policy is written for a period of more than one year, we may cancel for any reason at anniversary by letting you know at least 30 days before the date cancellation takes effect.
a. When this policy is cancelled, the premium for the period from the date of cancellation to the expiration date will be refunded pro rata.
b. If the return premium is not refunded with the notice of cancellation or when this policy is returned to us, we will refund it within a reasonable time after the date cancellation takes effect.
G. Nonrenewal of the Policy Your policy will not be renewed:
1. If the community where your covered property is located stops participating in the NFIP; or
2. If your building has been declared ineligible under Section 1315 of the Act.
3. You may elect not to renew this policy. You may do so by giving written notice to us prior to the end of the policy period or by not paying the renewal premium.
4. We may elect not to renew this policy. We may do so by delivering to you, or mailing to you at your mailing address shown in the Declarations Page written notice at least 30 days before the expiration date of this policy.
Proof of mailing will be sufficient proof of notice.
H. Policy Renewal
1. This policy will expire at 12:01 a.m. on the last day of the policy term.
2. We must receive payment of the appropriate renewal premium prior to the expiration date of the policy for continuously uninterrupted coverage.
I. Conditions Suspending or Restricting Insurance
We are not liable for loss that occurs while there is a hazard that is increased by any means within your control or knowledge.
J. Insurable Interest and Limit of Liability
Even if more than one person has an insurable interest in the property covered, we will not be liable in any one loss:
1. To the insured for more than the amount of the insured's interest at the time of loss; or
2. For more than the applicable limit of liability.
K. Requirements in Case of Loss
In case of a flood loss to insured property, you must:
1. Give prompt written notice to us;
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3. Protect the property from further damage. If repairs to the property are required, you must:
a. Make reasonable and necessary repairs to protect the property; and
b. Keep an accurate record of repair expenses.
4. Prepare an inventory of damaged property showing the quantity, description, actual cash value, and amount of loss. Attach all bills, receipts, and related documents;
5. Send to us, within 60 days after our request, your signed, sworn proof of loss which sets forth, to the best of your knowledge and belief:
a. The date and time of loss;
b. A brief explanation of how the loss happened;
c. Your interest (for example, "owner and the interest, if any, of others in the damaged property;
d. Details of any other insurance that may cover the loss;
e. Changes in title or occupancy of the insured property during the term of the policy;
f. Specifications of damaged buildings and detailed repair estimates;
g. Names of mortgage companies or anyone else having a lien, changes, or claim against the insured property;
h. Details about who occupied any insured building at the time of loss and for what purpose; and
i. The inventory of damaged property described in K.4. above.
6. You must cooperate with the adjuster or representative in the investigation of the claim.
7. You must comply with the claims procedures of the underlying NFIP policy and make a good faith effort to obtain all available coverages under that policy.
L. Our Options After a Loss
Options we may, in our sole discretion, exercise after loss include the following:
a. Show us or our representative the damaged property;
b. Submit to examination under oath, while not in the presence of another insured, and sign the same; and
c. Permit us to examine and make extracts and copies of:
(1) Any policies of property insurance insuring you against loss and the deed establishing your ownership of the insured real property;
(2) Condominium association documents in-cluding the Declarations of the con-dominium, its Articles of Association or Incorporation, Bylaws, and rules and regulations; and
(3) All books of accounts, bills, invoices and other vouchers, or certified copies pertaining to the damaged property if the originals are lost.
2. We may request, in writing, that you furnish us with a complete inventory of the lost, damaged, or destroyed property, including:
a. Quantities and costs;
b. Actual cash values;
c. Amounts of loss claimed;
d. Any written plans and specifications for repair of the damaged property that you can reasonably make available to us; and
e. Evidence that prior flood damage has been repaired.
3. If we give you written notice within 30 days after we receive your signed, sworn proof of loss, we may:
a. Repair, rebuild, or replace any part of the lost, damaged, or destroyed property with material or property of like kind and quality or its functional equivalent; and
b. Take all or any part of the damaged property at the value we agree upon or its appraised value.
M. No Benefit to Bailee
No person or organization, other than you, having custody of covered property will benefit from this insurance.
2. As soon as reasonably possible, separate the damaged and undamaged property, putting it in the best possible order so that we may examine it;
1. At such reasonable times and places that we may designate, you must:
Page 10 of 12
Insert BEFG99.102 0104 00-0094543 05/12/13 Logo 29 5500105578 X 00
N. Loss Payment
1. We will adjust all losses with you. We will pay you unless some other person or entity is named in the policy or is legally entitled to receive payment. Loss will be payable 60 days after we receive your proof of loss (or within 90 days after the insurance adjuster files an adjuster's report signed and sworn to by you in lieu of a proof of loss) and:
a. We reach an agreement with you;
b. There is an entry of a final judgment; or
c. There is a filing of an appraisal award with us, as provided in VII.Q.
0. Abandonment
You may not abandon damaged or undamaged insured property to us.
P. Salvage
We may permit you to keep damaged insured property after a loss, and we will reduce the amount of the loss proceeds payable to you under the policy by the value of the salvage.
Q. Appraisal
If you and we fail to agree on the actual cash value of the damaged property so as to determine the amount of loss, either may demand an appraisal of the loss. In this event, you and we will each choose a competent and impartial appraiser within 20 days after receiving a written request from the other. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a court of record in the State where the insured property is located. The appraisers will separately state the actual cash value and the amount of loss to each item. If the appraisers submit a written report of an agreement to us, the amount agreed upon will be the amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will set the amount of actual cash value and loss.
Each party will:
1. Pay its own appraiser; and
2. Bear the other expenses of the appraisal and umpire equally.
R. Mortgage Clause
The word "mortgage includes trustee.
Any loss payable under Coverage A - Building Property will be paid to any mortgagee of whom we have actual notice as well as any other mortgagee or loss payee determined to exist at the time of loss, and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages.
If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee:
1. Notifies us of any change in the ownership or occupancy, or substantial change in risk of which the mortgagee is aware;
2. Pays any premium due under this policy on demand if you have neglected to pay the premium; and
3. Submits a signed, sworn proof of loss within 60 days after receiving notice from us of your failure to do so.
All of the terms of this policy apply to the mortgagee.
The mortgagee has the right to receive loss payment even if the mortgagee has started foreclosure or similar action on the building.
If we decide to cancel or not renew this policy, it will continue in effect for the benefit of the mortgagee only for 30 days after we notify the mortgagee of the cancellation or nonrenewal.
If we pay the mortgagee for any loss and deny payment to you, we are subrogated to all the rights of the mortgagee granted under the mortgage on the property. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.
S. Suit Against Us
You may not sue us to recover money under this policy unless you have complied with all the requirements of the policy. If you do sue, you must start the suit within one year of the date of the written denial of all or part of the claim.
T. Subrogation
Whenever we make a payment for a loss under this policy, we are subrogated to your right to recover for that loss from any other person. That means that your right to recover for a loss that was partly or totally caused by someone else is automatically transferred to us, to the extent that we have paid you for the loss. We may require you to acknowledge this transfer in writing. After the loss, you may not give up our right to recover this money or do anything that would prevent us from recovery. If you make any claim against any person who caused your loss and recover any money, you must pay us back first before you may keep any of that money.
Page 11 of 12
U. Continuous Lake Flooding
1. If your insured building has been flooded by rising lake waters continuously for 90 days or more and it appears reasonably certain that a continuation of this flooding will result in a covered loss to the insured building equal to or greater than the building policy limits plus the deductible or the maximum payable under the policy for any one building loss, we will pay you the lesser of these two amounts without waiting for the further damage to occur if you sign a release agreeing:
a. To make no further claim under this policy;
b. Not to seek renewal of this policy; and
c. Not to seek a premium refund for current or prior terms.
If the policy term ends before the insured building has been flooded continuously for 90 days, the provisions of this paragraph U.1. will apply when the insured building suffers a covered loss before the policy term ends.
V. Loss Settlement
We will pay the least of the following amounts after application of the deductible:
2. The actual cash value; or
3. The amount it would cost to repair or replace the property with material of like kind and quality within a reasonable time after the loss.
W. Uncollectibility of Underlying Insurance
The insurance provided by this policy is excess over the underlying insurance policy and shall in no event drop down, take the place of, or substitute, in whole or in part, for the amount of such underlying insurance which may be uncollectible for any reason.
X. Liberalization Clause
If we make a change that broadens your coverage under this edition of our policy, but does not require any additional premium, then that change will automatically apply to your insurance as of the date we implement the change, provided that this implementation date falls within 60 days before, or during, the policy term stated on the Declarations Page.
This liberalization clause does not apply to changes implemented through introduction of a subsequent edition of our policy.
1. The applicable amount of insurance under this policy;
VIII. POLICY AGGREGATE LIMIT OF LIABILITY
A. The most we will pay for all flood losses during the policy term is the aggregate limit specified in the Declarations Page. The aggregate limit:
1. Shall apply for each covered flood loss in excess of the retained limit of Building and Contents coverage specified in the Declarations Page as the underlying flood insurance policy or the actual policy limit, whatever is higher.
2. Shall be reduced by the amount of any loss payment under this policy. We will only pay for the amount of
any loss covered under this policy after the insurer issuing the underlying flood insurance policy :
a. Has paid; or
b. Becomes legally obligated to pay; or
c. Would be legally obligated to pay, if such policy was in force at the time of the loss, the full amount of the limit of Building or Contents coverage for each flood loss specified in the Declarations as applicable to the underlying flood insurance policy.
In witness whereof, we have caused this policy to be executed and attested, and, if required by state law, this policy shall not be valid unless countersigned by our authorized representative.
Secretary President
FEMA Form 81-33 (12/00) F-123 (12/00)
Page 12 of 12
Insert applicable company BEFG41.114 0302 Logo here 41-000001 05/17/13
Insert applicable company name here 41 0000043003 X 00 05/17/13
SPECIAL PROVISIONS — TENNESSEE (Excess Flood Dwelling Form)
ARTICLE VII — GENERAL CONDITIONS
Under item F. Cancellation paragraph (b.) is deleted and replaced by the following:
(b.) We may cancel this policy only for the reasons stated below by letting you know in writing of the date cancellation takes effect. This cancellation notice may be delivered to you, or mailed to you at your mailing address shown in the Declarations.
Proof of mailing shall be sufficient proof of notice.
1) When you have not paid the premium, we may cancel for non-payment of premium we may cancel by letting you know at least 10 days before the date cancellation takes effect.
2) When this policy has been in effect for less than 60 days and not a renewal with us, we may cancel for any reason by letting you know at least 10 days before the date cancellation takes effect.
3) When this policy has been in effect for 60 days or more, or at any time if it is a renewal with us, we may cancel:
a. If there is conviction of named insured of a crime having as one of its necessary elements an act increasing any hazard insured against
b. If there is evidence of fraud or material misrepresentation in connection with the application, policy, or presentation of a claim
c. If there is failure to comply with written loss control recommendations
d. If there is a material change in risk
e. Upon determination by the commissioner that the continuation of the policy would jeopardize the company’s solvency or place us in violation of insurance laws
f. If there is a violation or breach of policy terms or conditions
g. If there is any other reason approved by the commissioner
This can be done by letting you know at least 10 days before the date cancellation takes effect but no more than 120 days.
4) When this policy is written for a period of more than one year, we may cancel for any reason at anniversary by letting you know at least 10 days before cancellation takes effect but no more than 120 days.
.
Insert applicable company BEFG41.114 0302 Logo here 41-000001 05/17/13
Under item G. Nonrenewal of the Policy, paragraph (4) is deleted and replaced by the following:
(4) We may elect not to renew this policy. We may do so by delivering to you, or mailing to you at your mailing address shown in the Declarations, written notice at least 60 days before the expiration date of this policy but no more than 120 days. Proof of mailing will be sufficient proof of notice.
All other provisions of this policy apply.
Agent (555)555-5555 Test Agent
103 CHESTNUT DR
FRANKLIN TN 37064-2318
Sample Insured 7320 COX RUN DR FAIRVIEW TN 37062-9271
Notice of Non-Renewal
Dear Insured,
This notice is to inform you that your insurance coverage expires at 12:01 a.m. Standard Time on the date indicated above. This policy will not be renewed for the following reason(s):
Underlying flood policy cancelled or non-renewed.
To Mortgagee/Lienholder:
You are hereby notified that the agreement under the Mortgage/Loss Payable Clause payable to you as Mortgagee/Lienholder, which is part of the above policy, issued to the above insured, is hereby cancelled (or terminated). In accordance with the conditions of the policy, said cancellation (or termination) is to be effective on and after the hour and date indicated above.
Copy Sent To: Insured, Agent, Lienholder
GXXX99.018 0905 0807 29-0083447 5/21/13
Insert Applicable Company Logo here Insert applicable company name
Expiration Effective Date 8/24/13 12:01 a.m.
Policy Number 29 0007274825 X 15 5000 00000 XFLD Excess Flood
Date of Notice 5/21/13
GXXX99.018 0905 0807 29-0083447 5/21/13
29 0007274825 X 15
Insert Company logo here
GXXX99.013 0905 0605 9008394 6/04/13
Insert applicable Company Name
Policy Number Date of Notice 31 0000040585 X 00 6/04/13
5000 00000 XFLD Date of Mailing Excess Flood 6/06/13
Agent (727)823-4000 BANKERS TEST AGENT SAMPLE INSURED 103 CHESTNUT DR 7320 COX RUN DR FRANKLIN TN 37064-2318 FAIRVIEW TN 37062-9271
Notice of Cancellation
Dear Insured
You were notified of an unpaid premium on your insurance policy and the date that premium was due. At this time, we have not received your payment and we are canceling your policy for nonpayment of premium.
To reinstate your coverage, the past due premium ONLY must be received by us prior to the cancellation date. The next installment amount is shown only as a reference. Your policy will not be cancelled as long as the Past Due Premium is paid by the required date. Please use the payment coupon on the back of this notice when making these payments. If you have received a previous cancellation notice, the cancellation of your coverage is effective on the earlier of the two dates.
Cancellation Date & Time Past Due Premium Next Installment Total Due 6/19/06 12:01 am Standard Time $300.00 $.00 $300.00
800-627-0000 .
To Mortgagee/Lienholder: You are hereby notified that the agreement under the Mortgage/Loss Payable Clause payable to you as Mortgagee/Lienholder, which is a part of the above policy, issued to the above insured, is hereby cancelled (or terminated). In accordance with the conditions of the policy, said cancellation (or termination) is to be effective on and after the hour and date indicated above.
0 5 0 0 0 0 0 0 0 0 X F L D * * * * 3 1 0 0 0 0 0 4 0 5 8 5 X 0 0 0 0 0 3 0 0 0 0 D I 1 0 6 0 6 2 6 5
00100251700000405850615500007
Nonpayment of Premium
GXXX99.013 0905 0605 9008394 6/04/13
31 0000040585 X 00
To ensure reinstatement of coverage, this payment coupon must accompany your payment .
Please RETURN BOTTOM PORTION along with your payment.
0 5 0 0 0 0 0 0 0 0 X F L D * * * * 3 1 0 0 0 0 0 4 0 5 8 5 X 0 0 0 0 0 3 0 0 0 0 D I 1 0 6 0 6 2 6 5
and make payable to: Please WRITE YOUR POLICY NUMBER ON CHECK
Bankers Insurance Company Minimum Due:
New Balance: Due Date: 6/19/13
$300.00
Insured: LA XFLD TESTER EDINGTON To Be Paid By: Insured Amount Enclosed:
0 0 1 0 0 2 5 1 7 0 0 0 0 0 4 0 5 8 5 0 6 1 5 5 0 0 0 0 7
Insert applicable logo
here Insert applicable Company here
GXXX99.012 0905 0206 9008161 5/24/13
Policy Number Date of Notice 31 0000040662 X 00 5/24/13
5000 00000 XFLD Date of Mailing Excess Flood 5/26/13
Agent (727)823-4000 TEST AGENT Sample 103 CHESTNUT DR 7320 COX RUN DR FRANKLIN TN 37064-2318 FAIRVIEW TN 37062-9271 Notice of Cancellation Dear Insured You are hereby notified in accordance with the terms and conditions of your policy that your insurance coverage will cease as of the date and time indicated below. If the premium has been paid, we will make an adjustment after the cancellation becomes effective. If the premium has not been paid, you will receive a statement for the premium due us.
If you feel you have received this notice in error, please contact your agent
immediately Cancellation Date & Time: 6/18/13 12:01 am Standard Time
Reasons for Cancellation: Underlying f lood policy has been cancelled or NR * unab le to keep pol icy in ef fec t due to no pr imary f lood po l icy
If you fail to make a required payment that is due prior to the above cancellation date, and that failure results in an additional cancellation notice, the cancellation of your policy shall be effective on the earlier date.
To Mortgagee/Lienholder
Copy Sent To: Insured, Agent000000109000004066
Insured
BEF 99.019 1001 00-0100527 4/08/13
Policy Number 29 6600033700 X 0 5000 00000 XFLD Excess Flood
Date of Notice
4/08/13 Date of Mailing
4/10/13
Agent (888)888-4444 Sample Agent 103 CHESTNUT DR FRANKLIN TN 37064-2318
Sample Insured 7320 COX RUN DR FAIRVIEW TN 37062-9271
Notice of No Coverage
Dear Customer,
We have recently received your application requesting excess flood insurance coverage with us. Unfortunately, we have not received payment for this coverage.
Since payment of the premium is a prerequisite to the insurance contract, if you have been issued a policy or a policy number, this policy has been declared null and void as of 12:01 a.m. Standard Time on requested effective date.
If you have already sent the premium payment and we receive it in our office within 15 days of the date of this notice, we will reissue your policy with a 30-day waiting period to begin the day we receive your payment, as mandated by the Excess Flood Insurance Program. This policy will be subject to the rules and rates in effect on the date of reissue. Consequently, the total premium may be higher than the amount you were originally quoted.
This Application Was Submitted To Bankers Insurance Company.
If you have any questions about this notice, please contact your Agent.
Insert Company Logo here
Insert company name, address, and phone number here
1 1
1 xl
Applicable company name Company Street
Company City, State, Zip Company phone number
BEF99.202B 1008 1008 29-9100101 1/09/13
InsertApplicable Logo
Policy Number Date of Notice 29 5500103341 X 06 Page 1 of 2 1/09/13 5000 00000 XFLD Excess Flood
Agent Code: 9100101 Agent (555) 555-5555 Sample Agency 103 CHESTNUT DR FRANKLIN TN 37064
Sample Insured 7320 COX RUN DR FAIRVIEW TN 37062-9271
Premium Due Notice Dear Insured,
Your policy has been issued for a premium different from the quoted amount.
Recent changes in your policy have resulted in a premium adjustment.
In order to maintain your coverage, we need the payment indicated below, or unfortunately, we will have to cancel your policy.
$225.00 D 1/24/13 Premium Due: ate Due:
This Policy Was Originally Issued By Bankers Insurance Company.
Please RETURN BOTTOM PORTION along with your payment.
***Free "Online Bill Pay" now available at applicable website***
Applicable logo
Please WRITE YOUR POLICY NUMBER ON CHECK and make payable to: Applicable Company Insured: Sample Insured To Be Paid By: Insured
PO BOX 33011 ST PETERSBURG, FL 33733-8011
Due Date: 1/24/13 New Balance: $225.00 Minimum Due: $225.00
Amount Enclosed*
0 5 0 0 0 0 0 0 0 0 X F L D X F L D 3 2 5 5 0 0 1 0 3 3 4 1 X 0 6 0 0 0 2 2 5 0 0 D I 1 1 3 0 2 2 2 9
Company
BEF99.202B 1008 1008 29-9100101 1/09/13
29 5500103341 X 06 Page 2 of 2
INSURED PROPERTY IS LOCATED AT: 6880 DUNE DR AVALON NJ 08202-1158
Insert applicable logo here Insert applicable company name
Policy Number Date of Notice 29 0005929905 03 05/19/13 5000 00000 XFLD
PRIVACY STATEMENT
This Privacy Statement is provided by Bankers Financial Corporation and its subsidiary companies (collectively called "Bankers"): including but not limited to Bankers Insurance Group; Bankers Insurance Company; Bankers Life Insurance Company; First Community Insurance Company; Bankers Underwriters of Texas, Inc.; Bankers Underwriters, Inc.; Bankers Credit Insurance Services, Inc.; Bankers Insurance Services, Inc.; G.D. Van Wagenen Financial Services, Inc.; Bonded Builders Home Warranty, Association; Bonded Builders Insurance Services, Inc.; Bankers Surety Services, Inc.
To our Customers: As your insurance company, we recognize our obligation to keep information about you secure and confidential. Most of the information we use in evaluating your application and servicing your policy comes to us directly from you. In addition, we may collect nonpublic personal information from your application and from any of your transactions with Bankers or other companies. Depending on your insurance coverage, we may also collect information about you from third parties, such as other people proposed for coverage under your policy or the state Motor Vehicle Department concerning your driving report. We may also receive information about you from a consumer reporting agency.
We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. In some cases this may mean information can be disclosed to third parties without your authorization; however, we maintain physical, electronic and procedural safeguards that comply with state and federal regulations to guard your nonpublic personal information. Information about you is given to those of our employees who need it in order to provide you with products, benefits or services.
You have the right to obtain access to certain information and the right to request correction of information you feel is inaccurate. A copy of our detailed privacy policy can be found on our website at www.bankersinsurance.com.
To have a copy of our detailed privacy policy mailed to you or to access your information, write: Privacy Compliance, Bankers Insurance Group, PO Box 15707, St. Petersburg, FL 33733.
Important Notice:
In compliance with requirements of the Fair Credit Reporting Act (Public Law 91-508), Bankers advises that as part of our routine procedure for reviewing applications for certain types of insurance or renewals of certain policies, we may procure a consumer report including information as to the consumer's character, general reputation, personal characteristics or mode of living. If such insurance is for an individual and is primarily for personal, family or household purposes, such information may be obtained through personal interviews with neighbors, friends or others with whom the consumer is acquainted. Upon request to our company, in the manner as noted above, we will provide in writing a complete and accurate disclosure of the nature and scope of the consumer report requested or advise that no investigation was conducted.
0 0 4 8 3 5 5 3 9 0 0 0 5 9 2 9 9 0 5 0 7 3 5 3 0 0 0 0 E Insured
BXXX99.206 1207 1207 4567977 05/19/13
Insert applicable company BEF 99.020 1001 Name, address, and 29-0101186
Phone number here 05/19/13
Date of Notice 05/19/13
Agent (555)555-5555 Sample Agent Sample Insured 103 CHESTNUT DR Sample Insured Two FRANKLIN TN 37064-2318 7320 COX RUN DR
FAIRVIEW TN 37062-9271
Notice of Reinstatement
Dear Insured,
The issues leading to the cancellation of your policy with us have been resolved, and your policy has been reinstated as of 12:01 am Standard Time on 05/19/13.
Thank you for your help in making this reinstatement possible.
Your Agent can answer any questions you may have.
This Policy Has Been Reinstated By Bankers Insurance Company.
Thank you for choosing us as your insurance carrier. Copy Sent To: Insured, Agent
Insert applicable logo
Policy Number 29 0007437998 X 16 5000 00000 XFLD Excess Flood
Insert applicable
Insert applicable company name here Company Address
City, State, Zip Phone Number
BEF99.023B 1008 1008 29 -0084300 4 /2 6 /1 3
Logo here
Policy Number Date of Notice
29 0007237272 X 17 Page 1 of 2 4/26/13 5000 00000 XFLD
Excess Flood
A g e n t C o d e : 0 0 8 4 3 0 0 A g e n t ( 5 5 5 ) 5 5 5 - 5 5 5 5 T e s t a g e n t S a m p l e 103 CHESTNUT DR FRANKLIN TN 37064
Sample Insured 7320 COX RUN DR FAIRVIEW TN 37062-9271
Insured property address indicated on reverse side of this notice.
Renewal Notice
Renewal Pol icy Per iod From: 6/15/13 To: 6/15/14 Dear Insured:
It's TIME TO RENEW your Excess Flood insurance policy. Your current policy expires on standard time.
6/15/13 at 12:01 a.m.
To ensure continued coverage with us, you need to make your payment on or before the expiration date of your current policy. If you are paying by check, please use the payment coupon at the bottom of this notice. Or if you would like to pay by credit card, please contact customer service.
If you wish to amend the coverage amount(s) or the payor listed below please call your Agent .
This Renewal Has Been Offered By Bankers Insurance Company. If your mortgagee is the payor of this policy, this notice is for your records only.
Please RETURN BOTTOM PORTION along with your payment. * * * F r e e " O n l i n e B i l l P a y " n o w a v a i l a b l e a t w w w . s a m p l e . c o m * * *
BANKERS INSURANCE GROUP
W R I T E P O L I C Y N U M B E R O N C H E C K a n d m a k e p a y a b l e t o : A p p l i c a b l e I n s u r a n c e C o m p a n y I n s u r e d : S a m p l e T o B e P a i d B y : I n s u r e d
Due Date: Amount Due If No Changes Requested:
Amount Enclosed:
6/15/13
$1,000.00
PO BOX 33011 ST PETERSBURG, FL 33733-8011
0 5 0 0 0 0 0 0 0 0 XFLD XFLD 290007237272X17 00100000 RE 1120913 2 Company
AMOUNT OFCOVERAGE PREMIUM DUE Pay this amount to renew your policy with the same coverage amounts indicated.
BUILDING
CONTENTS
$423,000
$ 0
ONE-YEAR POLICY $1,000.00
ADDITIONAL COPIES SENT TO THE FOLLOWING:
29 0007237272 X 17 Page 2 of 2
Property Address Agent (813)877-7799 6880 DUNE DR TEST AGENT AVALON NJ 08202-1158 INC
199 N BAY DR BAYVILLE NJ 08721
BEF99.023B 1008 1008 29-0084300 4/26/13
Company
GXXX99.022 0709 0709 29 -0047464
5/11/13 Insert Logo Insert applicable company name here
P a g e 1 o f 2
Policy Number 2 9 00 0 79 4 32 8 1 X 1 4 5 0 0 0 0 00 0 0 XF LD E xc e s s F l o o d
Date of Notice 5/11/13
Agent Code: 0047464 Agent (555)555-5555 Sample Agent 103 CHESTNUT DR FRANKLIN TN 37064-2318
Sample I nsured 7320 COX RUN DR FAIRVIEW TN 37062-9271
Insurance Renewal Reminder Dear Policyholder, Your policy is due to renew on 5/26/13. If you have already sent your renewal payment, please disregard this reminder. We value your business and want to be sure there are no unnecessary interruptions in your coverage. If you have not already sent your renewal payment, and are preparing to do so, you have the following payment options:
Return the payment coupon below with your check. Call 1-800-627-0000 during business hours (Eastern time) to renew by phone via credit card. ***Free "Online Bill Pay" now available at www.companyemail.com***
In the event your payment is not received by 12:01 a.m. standard time on 5/26/13,your policy will expire.
If you have any questions, please contact your agent.
Thank you for allowing us to continue to provide your insurance coverage.
This Renewal Has Been Offered By Bankers Insurance Company.
Please RETURN BOTTOM PORTION along with your payment.
BANKERS INSURANCE GROUP
Please WRITE POLICY NUMBER ON CHECK And make payable to: Company Name Insured: Sample Insured To B e P a id B y : In s u r e d
PO BOX 33011 ST PETERSBURG, FL 33733-8011
0 5 00 0
0 0 0
Company
Due Date: 7/26/12 New Balance: $2,018.00 Minimum Due: $2,018.00
Amount Enclosed:
GXXX99.022 0709 0709 29-0047464 5/11/13
29 0007943281 X 14 Page 2 of 2 5/11/13 5000 00000 XFLD
Excess Flood
INSURED PROPERTY IS LOCATED AT:
6880 DUNE DR AVALON NJ 08202-1158
Dear Insured,
If you elect to pay your renewal premium by credit card, please refer to the total amount or the new balance amount shown on the included payment notice.
Please note your credit card statement will reflect a charge from “Insert company name here”.
Company
Supporting Document Schedules Satisfied - Item: Detailed Filing OverviewComments:Attachment(s): 13-0147.Form Filing Memorandum.pdfItem Status:Status Date:
Bypassed - Item: Third Party AuthorizationBypass Reason: Not a third party filing.Attachment(s):Item Status:Status Date:
Satisfied - Item: Filing Fees For Property and CasualtyComments: Filing Fee Form attached. No fee in domicile state.Attachment(s): Filing Fee Form.pdfItem Status:Status Date:
Bypassed - Item: Applications that become part of the policyBypass Reason: Not an automobile policy filing.Attachment(s):Item Status:Status Date:
Bypassed - Item: Side-by-Side Comparison - Form and/or RuleBypass Reason: New program. Not a revision.Attachment(s):Item Status:Status Date:
SERFF Tracking #: BKIC-129309948 State Tracking #: 134283 Company Tracking #: 13-0147
State: Tennessee Filing Company: Bankers Insurance Company
TOI/Sub-TOI: 02.3 Flood/02.3002 Personal Flood
Product Name: Excess Flood - Forms
Project Name/Number: TN Excess Flood Forms Filing/13-0147
PDF Pipeline for SERFF Tracking Number BKIC-129309948 Generated 12/02/2013 06:21 AM
Filing Memorandum
Filing Number 13-0147
Bankers Insurance Company, a subsidiary of the Bankers Insurance Group, is submitting for your review and approval an initial Rules, Rates, and Forms Filing for an Excess Flood product. We are requesting an effective date of New Business 1.1.2014 and Renewal Business 1.31.2014. Corresponding Rate Rule Filing number 13-0148. This is a new program filing and there is no rate data available.
Bankers Insurance Company is currently a WYO carrier both servicing and writing business for the NFIP Federal Flood program. Bankers Insurance Group has a long history with the NFIP and the WYO program, as one of the original companies, participating since the program’s inception in 1983. Bankers currently has the ability to write NFIP Flood in 49 states, including Alaska. Bankers is also one of the few WYO’s who not only markets the federal program, but also performs administration on both policies and claims utilizing a Bankers proprietary, NFIP approved, processing system.
In addition to NFIP Flood Policies, Bankers is currently actively approved and writing business for Excess Flood as an admitted carrier in 17 states, including, but not limit to Florida, Texas, Louisiana, North Carolina, South Carolina, Maryland, Delaware, and Massachusetts.
Bankers Insurance Group currently has an AM Best rating of B+. The company was founded in 1976 and has been primarily a southeast coastal state insurance provider. The Flood and Excess Flood products are part of an overall geographic expansion plan. Bankers ability to service both the primary NFIP flood product and the excess flood has benefits for both independent insurance agents and the consumer. The ability to have a single entity to contact for any policy changes and/or questions, and even more importantly in the event of a loss, having a single adjuster and contact point for claims handling, should help speed up the overall adjudication process.
All Excess Flood rates are based on the additional building and additional contents rates used to rate the primary NFIP policy. The only exception to that is an Excess Flood policy written with a primary NFIP policy which is considered Preferred Risk. A Preferred Risk policy has no defined additional building or additional contents rates under the federal program. However, the rates listed in the Excess Flood manual have been derived from the amount of coverage and the composite rate.
Example: A Residential Preferred Risk Policy with No Basement and the required 250,000 dollars of building coverage and 100,000 dollars of contents coverage has a composite premium of 392 dollars. All NFIP rates are calculated on a per 100 basis, so in this case there is a total per hundred of 3,500 in coverage. Calculation - 392 / 3,500 = .11 cents per hundred, which is the rate used for the Excess Flood.
A feature of the Bankers Excess Flood product is the inclusion of a multi-policy discount if the primary NFIP policy is also written through Bankers Insurance Group. Not only is there a consumer benefit for having both flood policies with the same company, but Bankers Insurance Group, by virtue of being a WYO, benefits by receiving 30.7 percent of direct written premium for marketing and servicing the primary flood policy. From that amount Bankers must pay agent commission. Additional savings exist in
the claim handling aspect as well with the use of a single adjuster to handle both the primary NFIP loss and the potential Excess Flood loss.
Flood zones are mapped at a community level, and the true method of determining the zone which applies to an individual property is to have a certified zone determination performed by a vendor who specializes in this type of mapping. Typically, any loan request will force a zone determination to be ordered by the lending institution due to the federal requirement of the mandatory purchase of a flood insurance policy if the property is located in a special flood hazard area. Bankers currently utilizes CoreLogic as the vendor for the primary NFIP flood insurance policy, should that certified zone determination not already exist. For the insured to purchase Excess Flood it is required that there is a primary NFIP flood policy in place, so in this case the flood zone would be shown and available on the declarations page of the NFIP policy.
PROPERTY AND CASUALTYFILING FEE FORM FOR TENNESSEE
_____ Domicilary state does not have a filing fee.
_____ Domicilary state has a filing fee for filings of this type.Please submit a copy of a completed filing fee formand your check to the following address:
Cashier’s OfficeDepartment of Commerce & Insurance
500 James Robertson ParkwayNashville, TN 37243
Please list each company below in which the filing is to be made,and the corresponding required filing fee for the domicilary state, ifany.
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RATING ALLOTMENT CODE COST CENTER
23 335.02 1000
122/553
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BKIC-129309948