Air Conditioning Unit Not Classified as an Appliance
My insured has CP 00 10 04 02 and CP 10 30 04 02 coverage forms applicable with replacement cost coverage on structure and contents.
An outside central a/c unit was stolen off its platform behind the building.
The CP 00 10 form declares the following property will be valued at ACV even when attached to a building:
(2) Appliances for refrigerating, ventilating, cooking, dishwashing or laundering; or
(3) Outdoor equipment or furniture.
I don't think the a/c unit would be classified in this category and should be paid at RCV once the unit has been replaced.
Do you agree or disagree?
Arkansas Subscriber
We agree with your assessment of the situation. The property to be valued at ACV section does not include air conditioning units in its list of appliances, and an a/c unit does not seem to fit into any of the categories on the list.
This premium content is locked for FC&S Coverage Interpretation Subscribers
Enjoy unlimited access to the trusted solution for successful interpretation and analyses of complex insurance policies.
- Quality content from industry experts with over 60 years insurance experience, combined
- Customizable alerts of changes in relevant policies and trends
- Search and navigate Q&As to find answers to your specific questions
- Filter by article, discussion, analysis and more to find the exact information you’re looking for
- Continually updated to bring you the latest reports, trending topics, and coverage analysis
Already have an account? Sign In Now
For enterprise-wide or corporate access, please contact our Sales Department at 1-800-543-0874 or email [email protected]