What it does
BP DS 01 is the ISO Businessowners Policy Declarations. It identifies the company, producer, named insured, mailing address and policy period, lists each premises and building with mortgageholders, describes the form of business and business description, and records the Section I – Property limits and Section II – Liability limits that make the BP 00 03 coverage form work.
Key entries
- For each premises and building: type of property (building or business personal property), limit of insurance, the Actual Cash Value Of Building option, the Automatic Increase Building Limit percentage and the Business Personal Property seasonal increase percentage.
- Blanket insurance, where used, by type of property with a blanket limit.
- Deductibles that apply per location and per occurrence: the property deductible, the optional coverage deductible and any windstorm or hail percentage deductible.
- Liability and medical expenses limits, aggregates, and the limits for Optional Coverages such as outdoor signs, money and securities, employee dishonesty and equipment breakdown.
Quoting and selling notes
- Most Optional Coverages in BP 00 03 apply only when a limit is shown here, so a blank line means no coverage.
- Check that the form of business box is correct; it drives who is an insured under Section II.
- Carriers usually print their own version of the declarations; the ISO form shows the information ISO expects them to carry.
Related forms
BP 00 03; BP IN 01 index; class supplemental schedules BP DS 02 (apartments), BP DS 03 (restaurants) and BP DS 06 (flood).
