What it does
CP 00 10's Debris Removal additional coverage pays debris removal within the limit, up to 25% of the loss plus deductible. When that cap or the limit is exhausted, it pays up to an additional $25,000 per location. CP 04 15 replaces that $25,000 additional amount with the higher Debris Removal Amount shown in its Schedule for each premises and building.
Key provisions
- It applies to the Builders Risk, Building and Personal Property, Condominium Association, Condominium Commercial Unit-Owners and Tobacco Sales Warehouses coverage forms and the Standard Property Policy.
- The Schedule shows the amount and additional premium for each building.
- It does not change the debris removal rules on what is covered. Pollutant clean-up is a separate additional coverage.
Quoting and selling notes
- Debris removal after a major fire or windstorm can run well beyond 25% of the direct loss, especially for concrete, steel or multi-story buildings. Estimate it as a share of replacement cost and set the additional amount accordingly.
- Buildings insured close to value leave little room inside the limit for debris removal, so the additional amount matters more.
