What it does
In 2014 ISO retitled the endorsement, limited it to water originating from within the described location, removed the special deductible (the policy deductible now applies), replaced the stated $5,000 limit with a schedule (the rules provide $5,000 basic with $10,000 to $25,000 options) and made the power failure exclusion inapplicable to sump pump failures caused by power failure.
Who needs it
Rental dwellings and owner-occupied dwellings with basements or sump pumps.
Quoting and selling notes
- Flood is still excluded; place flood separately.
Editions and availability
Current edition 07 14, replacing 01 09, 11 92. Carriers adopt ISO editions state by state, so the edition on a given policy can lag the newest one.
Program notes
Dwelling policies are written for the property owner, not the occupant, and are the usual vehicle for landlords of one- to four-family dwellings. Because the forms carry no liability coverage, review every dwelling file together with DL 24 01 (or the homeowners or commercial policy that provides premises liability), and with any personal umbrella the client carries.
