Replacement Coverage for Awnings

Q

Our question concerns replacement cost coverage for awnings. In the ISO commercial property form CP 00 10 04 02 it says under the valuation condition clause b. that “If the Limit of Insurance for Building satisfies the Additional Condition, Coinsurance, and the cost to repair or replace the damaged building property is $2,500 or less, we will pay the cost of building repairs or replacement.” It goes on to say that the provision does not apply to (1) Awnings or floor coverings; (2) Appliances for refrigerating, ventilating, cooking, dishwashing, or laundering; or (3) Outdoor equipment or furniture.