What it does
CG 21 45 deletes the paragraph that gives back coverage for damage by fire to premises rented to the named insured, deletes the related exception to the damage to property exclusion, deletes the Damage To Premises Rented To You limit in Section III, and removes that limit from the Declarations.
Who needs it
Used for tenants whose leases include a mutual waiver and landlord property coverage, or by carriers unwilling to cover fire damage to rented buildings.
Key provisions and limits
- All damage to premises the insured rents is then excluded under the damage to property exclusion.
Quoting and selling notes
- Check the lease: if the tenant is responsible for fire damage, it needs this coverage.
- Tenant's legal liability can also be bought on the property policy.
