What it does
PM 00 19 is a simplified-language form attached to PM 00 01 that applies open-perils coverage to the kinds of personal property found in a home. Coverage applies only to categories for which an amount is entered on the declarations. It adds its own exclusions (such as earth movement) to those in PM 00 01, replaces the PM 00 01 loss settlement and loss clauses, and amends the other insurance clause.
Who needs it
Clients who need broad contents coverage outside a homeowners package, such as renters in high-value apartments or owners whose dwelling is insured on a dwelling policy.
Key provisions and limits
- The form carries a $100 deductible per loss, a limitation for unscheduled jewelry, watches and furs, and coverage at secondary residences that can be increased with PM 02 03.
- Quarterly automatic increases are available with PM 02 04.
Quoting and selling notes
- Schedule jewelry and furs over the form's limit on PM 00 11 or a personal articles form.
How the personal inland marine program is assembled
Every ISO personal inland marine policy starts with PM 00 01 (Common Policy Provisions), which holds the general conditions, loss settlement framework and common exclusions, and adds one or more coverage forms: the personal articles forms PM 00 09 (standard loss settlement) or PM 00 10 (agreed value), class forms such as PM 00 11 (jewelry and furs), PM 00 14 (musical instruments), PM 00 17 (fine arts) and PM 00 18 (bicycles), the open-perils personal property form PM 00 19, or the personal effects floater PM 00 20 for property while traveling.
For business owners, remember that business, professional and commercially used property (a photographer's working cameras, a musician's instruments used for pay, a dealer's inventory) generally belongs on a commercial inland marine form rather than these personal forms.
Editions and availability
Current edition: 12 02.
