1. Forms
2. HO
3. HO-24-49

What the form is

The HO 24 49 Personal Injury Coverage (Aggregate Limit Of Liability) endorsement is an addition to a homeowners insurance policy that extends liability coverage to include personal injury. Personal injury, in this context, typically refers to offenses such as:

• False arrest, detention, or imprisonment
• Malicious prosecution
• Libel, slander, or defamation of character
• Invasion of privacy, wrongful eviction, or wrongful entry

A key feature of this endorsement is that it allows the insured to select an aggregate limit for all personal injury claims that occur during the policy period. This means there is a maximum total amount the insurer will pay for all personal injury claims combined, regardless of the number of claims. This differs from endorsements like the HO 24 82, which may not have this aggregate limit feature, or the HO 24 89 which is designed for the HO 00 14 and is not subject to an aggregate limit.

Classes of business it applies to

This endorsement is designed for personal homeowners insurance policies. It is particularly relevant for individuals who may have a higher risk of personal injury claims. For example:

• Individuals active on social media or online forums where statements could be construed as libelous or slanderous.
• Landlords, in relation to wrongful eviction or invasion of privacy claims by tenants (though specific landlord policies might be more appropriate depending on the scale of rental activity).
• Individuals involved in community organizations or volunteer activities where they might face allegations related to personal injury.
• The endorsement appears to be specifically designed for use with the HO 00 14 (Contents Comprehensive Form for renters), as it can provide personal injury coverage for home-sharing activities which are automatically covered under HO 00 14 but not necessarily other homeowners forms.

Special considerations

• Aggregate Limit: The most significant consideration is the aggregate limit. The insured must carefully choose an adequate aggregate limit that reflects their potential exposure. Once this limit is exhausted by one or more claims during the policy period, there is no further coverage for personal injury claims under this endorsement for that policy period.
• Exclusions: Like all insurance coverages, this endorsement will have exclusions. Common exclusions might include personal injury arising from business activities (unless specifically covered), intentional acts causing harm (where prohibited by law), or criminal acts.
• Interaction with Other Forms: It's important to understand how this endorsement interacts with the base homeowners policy and any other endorsements. For instance, it is noted as providing similar coverage to the HO 24 82 but with the key difference of the aggregate limit. It is also designed for use with the HO 00 14 form.
• Home-Sharing: This endorsement may be particularly relevant for insureds engaging in home-sharing activities, as it can grant coverage for personal injury arising from such activities, especially when used with forms like the HO 00 14.

Key information for agents and underwriters

• Risk Assessment: Underwriters should assess the insured's lifestyle and activities to determine the potential for personal injury claims. This includes online presence, involvement in public activities, and any rental exposures.
• Limit Adequacy: Agents should counsel clients on selecting an appropriate aggregate limit. This requires a discussion of their potential risks and the financial implications of a personal injury lawsuit.
• Pricing: The premium for this endorsement will depend on the selected aggregate limit and the underwriter's assessment of the risk.
• Coverage Gaps: Agents should explain what is and isn't covered. For example, personal injury related to an insured's business is typically excluded unless a specific business pursuits endorsement is also in place.
• Comparison with HO 24 82/HO 24 89: Agents and underwriters should be clear on the differences between HO 24 49, HO 24 82, and HO 24 89, particularly regarding the aggregate limit and applicability to specific base forms like the HO 00 14. The HO 24 49 allows the insured to pick an aggregate limit, which is a key differentiator.