PL - IA 01/01/2013 Rates and Manuals - Western National Insurance ...

Western National Mutual Insurance CompanyIOWA HOMEOWNER RULESRule 2 – Program DescriptionThe following is a general description of the coverages provided by the homeowners policy forms. Thepolicy forms state the complete conditions.2.1 Policy FormsThe following forms are used to provide homeowners coverage.Form 2 - Broad FormForm 3 - Special FormForm 4 - Contents Broad FormForm 5 - Special Building and Contents FormForm 6 - Unit-Owner's Form2.2 Principal Property Coverages (Mandatory)Forms 2, 3 and 5 provide all of the principal coverages described below. Form 4 includes onlyCoverages C and D. Form 6 includes only Coverages A, C, and D.2.2.1 Coverage A – ResidenceWith the exception of Form 6, Coverage A covers the residence on the insuredpremises, including additions and built-in components. On Form 6, Coverage A coversthe fixtures, alterations, and additions that are part of the condominium or co-operativeunit, structures owned solely by the insured, and other property that is the insured'sinsurance responsibility.2.2.2 Coverage B – Related Private StructuresCoverage B covers unattached structures on the insured premises that are related to theresidence, other than structures used for business purposes. Coverage also applies tofences, driveways, sidewalks, and other permanently installed outdoor fixtures on theinsured premises.2.2.3 Coverage C – Personal PropertyCoverage C covers personal property owned by or in the care of an insured. Coveragefor an insured's personal property usually at a residence other than the insured premisesis limited to 10% of the Coverage C limit.2.2.4 Coverage D – Additional Living Costs And Loss Of RentCoverage D covers increased living costs and loss of rent or fair rental value that occurwhen an insured loss makes the insured premises unfit for use.2.3 Loss Settlement Provisions2.3.1 Coverages A and BDepending on the Homeowner Program selected, Standard or Preferred, insurance-tovaluerequirements triggers replacement cost loss settlement provisions for buildingscovered under Coverage A and B. The Standard Program requires 80% insurance-tovalueand the Preferred Program requires 100% insurance-to-value. On Form 6, loss to7-1-2010 IA - Rules - 4 General RulesIncludes copyrighted material with permission of American Association of Insurance Services