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Basic coverage is provided in the Dwelling Property 1
Basic Form (DP-0001) for one to four (1-4) family
residences. For Commercial Properties, Basic coverage
is provided under the Standard Property Policy
(CP-0099). Those policies protect buildings against
such hazards as fire (including damage by lightning),
wind, hail, explosion, smoke, damage by vehicles or
aircraft, vandalism and malicious mischief.
Broad coverage is available for residences under the
Dwelling Property 2 Broad Form (DP-0002). For Commercial
Properties, Broad Form is endorsed to the Standard
Property Policy by the Optional Perils Form (PF-0002).
Dwelling Form Broad coverages include additional hazards
of damage by burglars; falling objects; weight of ice,
snow or sleet; accidental discharge or overflow of water
or steam; sudden and accidental tearing apart, cracking,
burning or bulging of a steam or hot water system, an
air conditioning or automatic fire protective system, or
an appliance for heating water; freezing of plumbing,
heating, air conditioning or automatic fire protective
sprinkler system or of a household appliance; sudden and
accidental damage from artificially generated electrical
current; volcanic eruption.
The Commercial Optional Perils Form provides the
additional perils of:
breakage of glass; falling objects; weight of snow, ice
or sleet and water damage (meaning accidental discharge
or leakage of water or steam as a result of the breaking
or cracking of any part of a system or appliance
containing water or steam, other than an automatic
sprinkler system). There is also additional coverage for
collapse.
It is important to note that these are general coverage
descriptions and the provisions and language of any
specific policy would provide the exact coverage
including conditions and exclusions, pertaining to an
individual insured property.
Normal coverage is provided on Actual Cash Value basis,
however the Plan may provide Replacement Cost Coverage,
when specifically requested, on eligible buildings that
meet our Replacement Cost Guidelines.
Travel Trailers affixed to real property located in the
State of North Carolina (excluding the Beach Plan area)
may qualify for coverage through the FAIR Plan.
Limited classes of manufacturing risks will be eligible
providing they meet occupancy and underwriting
standards.
Up to $1,500,000 of protection is available on private
dwellings and $2,500,000 on commercial properties
(including on farm properties, but excluding automobile
risks).
The FAIR Plan also offers a crime policy that provides
burglary and robbery protection.
The Plan does not write liability insurance. FAIR Plan
policies may be written for one or three years.
Short-term policies may be written in special
circumstances approved by the Commissioner of Insurance.
Three-year policies are normally adjusted (re-rated)
annually. Continuation of coverage requires an
application and an underwriting review.
You should contact your insurance agent or the Plan if
you do not have an agent, for requirements applicable to
the indicated available coverage's. The purpose of this
site is to assist licensed insurance agents. Individual
consumers should not submit applications to us from this
web site.
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For principal residences the Beach plan issues
Homeowners Insurance Policies for eligible properties
according to rules approved by the Commissioner of
Insurance. The terms and conditions of those policies
including the coverage forms are according to
Underwriting Guidelines also approved by the
Commissioner.
Basic coverage is provided in the Dwelling Property 1
Basic Form (DP-0001) for one to four (1-4) family
residences. For Commercial Properties, Basic coverage
is provided under the Standard Property Policy
(CP-0099). Those policies protect buildings against
such hazards as fire (including damage by lightning),
wind, hail, explosion, smoke, damage by vehicles or
aircraft, vandalism and malicious mischief.
Broad coverage is available for residences under the
Dwelling Property 2 Broad Form (DP-0002). For Commercial
Properties, Broad Form is endorsed to the Standard
Property Policy by the Optional Perils Form (PF-0002).
Dwelling Form Broad coverages include additional hazards
of damage by burglars; falling objects; weight of ice,
snow or sleet; accidental discharge or overflow of water
or steam; sudden and accidental tearing apart, cracking,
burning or bulging of a steam or hot water system, an
air conditioning or automatic fire protective system, or
an appliance for heating water; freezing of plumbing,
heating, air conditioning or automatic fire protective
sprinkler system or of a household appliance; sudden and
accidental damage from artificially generated electrical
current; volcanic eruption.
The Commercial Optional Perils Form provides the
additional perils of:
breakage of glass; falling objects; weight of snow, ice
or sleet and water damage (meaning accidental discharge
or leakage of water or steam as a result of the breaking
or cracking of any part of a system or appliance
containing water or steam, other than an automatic
sprinkler system). There is also additional coverage for
collapse.
It is important to note that these are general coverage
descriptions and the provisions and language of any
specific policy would provide the exact coverage
including conditions and exclusions, pertaining to an
individual insured property.
The Plan also provides a Windstorm and Hail Only policy
written in conjunction with a fire insurance policy,
that is written by a private, licensed insurance
company.
Normal coverage is provided on Actual Cash Value basis,
however Replacement Cost Coverage may be provided, when
specifically requested, on eligible buildings that meet
our Replacement Cost guidelines.
Business Income coverage will be available for
commercial risks. The maximum per risk limit available
is $300,000.
Travel Trailers affixed to real property located in the
each Area may qualify for coverage through the Beach
Plan.
Limited classes of manufacturing risks will be eligible
providing they meet occupancy and underwriting
standards.
Up to $1,500,000 of protection is available on private
dwellings and $3,000,000 on commercial properties
(excluding automobile risks.)
The Beach Plan also offers a crime policy that provides
burglary and robbery protection.
The Plan does not write liability insurance, except for
the coverage provided by homeowner policies for an owner
occupied principal residence.
Beach Plan policies may be written for one or three
years. Short-term policies may be written in special
circumstances approved by the Commissioner of Insurance.
Continuation of coverage requires an application and an
underwriting review. Three year policies are normally
adjusted (re-rated) annually. Continuation of coverage
requires an application and an underwriting review.
You should contact your insurance agent or the Plan if
you do not have an agent, for requirements applicable to
the indicated available coverage. The purpose of this
site is to assist licensed insurance agents. Individual
consumers should not submit applications to us from this
web site.
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