What it does
Lists a person or organization with an interest in the residence premises in a schedule so it receives policy notices and is protected for Section I losses to its interest, without becoming an insured for liability.
Who needs it
Homes with second lienholders, contract-for-deed sellers or other parties that need recognition on the policy.
Quoting and selling notes
- For a party that also needs premises liability coverage use HO 04 41.
Editions and availability
Editions in use and where they apply: 03 22 (42 jurisdictions); 10 00 (12 jurisdictions: AL, CA, CT, FL, GA, HI, LA, NC, PR, TX, VI, WA).
Section II changes affect umbrella placement. The ISO personal umbrella (DL 98 01) needs its own excess endorsements for business pursuits, home business, home day care and home-sharing exposures, so confirm the umbrella responds before relying on a homeowners endorsement for a business-type exposure.
