What it does
Under the standard deductible, separate deductibles can apply to multiple buildings damaged in one occurrence. CP 03 29 lets the insurer schedule deductibles by location. Each location in the Schedule has a deductible amount and the group of Covered Causes of Loss it applies to:
- (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
To apply a deductible separately to each building, each building must be listed as its own location in the Schedule.
Who uses it
Accounts with several buildings at one site that want a single deductible per site per occurrence. It is also used for different deductible levels at different sites, such as a higher deductible at a coastal location.
