What it does

CP DS 01 continues the commercial property declarations. It records, by premises and building number:

• A description of premises, including location, construction and occupancy.
• Coverages provided, with limit of insurance, covered causes of loss, coinsurance and rates. For Extra Expense, the limits on loss payment are shown instead of coinsurance.
• Optional coverages: agreed value with expiration date and amount, replacement cost (building, personal property, including stock), inflation guard percentages, and for business income the monthly limit of indemnity, maximum period of indemnity and extended period of indemnity.
• Mortgageholders' names and addresses.
• Forms applicable to specific premises or coverages.

Quoting and selling notes

• On multi-location accounts, check that each building's limits, causes of loss form, coinsurance and optional coverages appear correctly. Errors here are a frequent source of claim disputes.
• Confirm mortgageholders match the loan documents, and that location-specific endorsements (protective safeguards, theft exclusion, windstorm deductibles) point to the right premises numbers.