What it does

The Special form restricts theft of building materials and supplies not yet attached to the building. CP 10 44 gives back that coverage when the premises are written on the Causes of Loss – Special Form and theft is not otherwise excluded. It covers theft of building materials and supplies located on or within 100 feet of the scheduled premises that are intended to become a permanent part of the described building by addition, alteration or repair.

Key provisions

• The scheduled limit is the most paid per theft occurrence.
• The theft deductible applies unless a Special Deductible is scheduled. When a theft involves materials and other property, the highest deductible applies to the whole loss.
• Not covered:
  • Dishonest or criminal acts excluded by the Special form.
  • Voluntary parting induced by fraud.
  • Inventory shortages or other losses with no physical evidence of what happened.

Quoting and selling notes

• Use it for owners doing renovation work under their regular property policy. For ground-up construction under builders risk, the comparable form is CP 11 21.
• Ask about site security, fencing and lighting, and how long materials sit on site before installation.