1. Forms
2. IH
3. IH-00-79

What the form is

The IH 00 79 Miscellaneous Articles Coverage Form is an insurance policy form used in Commercial Inland Marine insurance. As a "non-filed" form, its terms and conditions are not standardized by insurance regulators in the same way as "filed" forms, allowing for more flexibility by insurers. Its primary purpose is to provide coverage for direct physical loss or damage to specifically described miscellaneous personal property or articles listed on the policy's Declarations page. It covers property against Covered Causes of Loss, subject to the policy's exclusions and conditions.

Classes of business it applies to

This form is suitable for a wide range of businesses that own or are responsible for miscellaneous articles that may require broader or more specialized coverage than what is offered under standard commercial property policies. Examples include:

• Businesses with specialized tools or equipment that are frequently moved to different job sites (e.g., contractors, photographers, musicians).
• Organizations with valuable articles that don't fit neatly into other property categories.
• Property of others in the insured's care, custody, or control, if specifically described and agreed upon.

For instance, a surveying company might use this form to insure its specialized surveying equipment, or a band might insure its musical instruments and sound gear.

Special considerations

• Scheduled Property: Coverage only applies to property specifically described in the Declarations. Accurate and detailed descriptions are crucial.
• Valuation: Unless endorsed otherwise, losses are typically settled on an Actual Cash Value (ACV) basis. The IH 99 07 Replacement Cost endorsement can be added to provide replacement cost coverage.
• Exclusions: The form contains various exclusions. Common exclusions include loss or damage caused by denting, chipping, marring, or scratching; delay, loss of use, or loss of market; voluntary parting with property due to fraudulent schemes or false pretense; and unauthorized instructions to transfer property. Other standard exclusions like wear and tear, inherent vice, and gradual deterioration also apply, though resulting loss from a Covered Cause of Loss might be covered.
• Non-Filed Nature: Being a non-filed form means that specific terms, conditions, and endorsements can vary from one insurer to another. It's important to review the specific insurer's version of the form.
• Mobility: Inland marine forms like this are often used for property that is mobile or in transit, though this form can cover property at fixed locations as well if scheduled.

Key information for agents and underwriters

• Detailed Scheduling: Agents must work with insureds to ensure all covered articles are accurately and completely listed on the Declarations, including serial numbers or other unique identifiers where applicable.
• Valuation Assessment: Discuss valuation options (ACV vs. Replacement Cost) with the insured and attach the appropriate endorsement (e.g., IH 99 07) if RC is desired. Ensure limits are adequate for the chosen valuation.
• Risk Assessment: Underwriters should assess the nature of the articles, their susceptibility to loss, how and where they are used and stored, and the insured's loss history. For items like unmanned aircraft, specific endorsements like IH 99 29 may be necessary.
• Coverage Gaps: Review the insured's overall insurance program to identify potential gaps or overlaps with other policies (e.g., Commercial Property, Businessowners Policy).
• Endorsements: Be aware of relevant endorsements that can modify coverage, such as those for reporting forms (e.g., IH 99 08 for fluctuating values) or specific perils.
• Clarity on Exclusions: Agents should clearly explain key exclusions to the insured to prevent misunderstandings at the time of a claim.