INDIANA

HOMEOWNERS

RULE 35.5B - LOSS ASSESSMENT COVERAGE FOR EARTHQUAKE (CO 04 36)

Applies to: Premier - YES*, Premier Plus - YES*, Premier Select - YES*,
Premier Condo - YES*, Premier Renters - NO

The policy may be endorsed to extend coverage to include loss assessments resulting from a loss by earthquake to a maximum limit of $25,000. The limit of coverage will be based on the insured's proportionate interest in the total value of all collectively owned buildings and structures of the corporation or association of property owners.

This endorsement is not available for Additional Locations.

Effective April 15, 2020, Loss Assessment Coverage for Earthquake endorsement will not be available for masonry homes built prior to 1950. Policies that currently have Loss Assessment Coverage for Earthquake for masonry homes built prior to 1950 will have the coverage removed at their first renewal on or after April 15, 2020.

Calculate the additional premium as follows:

1) Determine the appropriate Earthquake Zone from the Territories Section using the location of the insured structure.

2) Determine the rate per $1,000 of coverage for the appropriate construction type of the dwelling:

3) Multiply the desired limit of coverage by the rate per $1,000 determined in Step 2 above.

4) Multiply the result obtained in Step 3 by the desired deductible factor as follows:

Endorsement CO 04 36 Loss Assessment Coverage for Earthquake will be attached to the policy.

* This endorsement may not be added unless Loss Assessment Coverage (CO 04 35) is attached to the policy.