1. Forms
  2. CP
  3. CP-03-20

What it does

CP 03 20 replaces the single policy deductible with deductibles that vary by premises, building and cause of loss. For each line of the Schedule, the deductible amount is matched to a numbered group of Covered Causes of Loss:

  • (1) All Covered Causes of Loss
  • (2) All except Windstorm or Hail
  • (3) All except Theft
  • (4) All except Windstorm or Hail and Theft
  • (5) Windstorm or Hail
  • (6) Theft

The deductibles apply per occurrence. The form can attach to the Builders Risk, Building and Personal Property, Condominium Association, Condominium Commercial Unit-Owners and Tobacco Sales Warehouses forms and the Standard Property Policy.

Editions

The 04 18 edition is subtitled "Fixed Dollar Deductibles". ISO revised its deductible endorsements in that cycle, which also produced the 04 18 edition of Deductibles By Location (CP 03 29).

Quoting and selling notes

  • Use it to offer a higher flat wind and hail deductible as an alternative to a percentage deductible (CP 03 21), or a theft deductible on high-theft locations.
  • Read the schedule numbering carefully. Picking group (2) instead of (1) leaves windstorm at the policy deductible.