What it does
CM 26 01 modifies the Physicians And Surgeons Equipment Coverage Form (CM 00 26). Covered property is redefined to mean medical and dental equipment, materials, supplies and books usual to the profession and usually carried by the insured. Office furniture and fixtures and tenant improvements are no longer covered property. The theft damage to buildings extension and the coinsurance condition are deleted.
Who needs it
Practitioners whose office contents are insured elsewhere (a BOP, a group practice's property policy or the hospital), but who want inland marine coverage for the instruments and bags they carry personally.
Quoting and selling notes
Because coinsurance is removed, the limit can be set at the value of the carried equipment without a penalty for underinsuring office contents. Confirm that office property is insured under another policy before using this endorsement.
