Topics covered:
Coverage
Exclusions
Limits of insurance and deductible
Additional conditions
Definitions
Declarations page

Coverage

IH 00 85 declares that the insurer will pay for direct physical loss of or damage to covered property from any of the covered causes of loss. The coverage form applies to direct physical damage and not to any consequential losses, or loss of use. The covered causes of loss are said to be all risks of direct physical loss or damage except those causes of loss listed in the exclusions section of the policy; in other words, IH 00 85 is an all risk or open perils type coverage form, which is in keeping with an inland marine form.

The property that is covered under this form is the personal property of others that is in the care, custody, or control of the named insured.  IH 00 85 does list property that is not covered and this list includes the following: accounts, bills, currency, records, deeds, money, securities, or stamps; animals; autos and trailers; aircraft and watercraft; furs or garments trimmed with fur; jewelry, watches, precious or semi-precious stones, gold, silver, bullion, or other precious metals; property while in the custody of other bailees (for example, if the insured is a dry cleaner and sends customers' shirts off-premises to another dry cleaning company for processing); property while waterborne; property that the named insured has accepted for storage (unless the declarations page lists this as a covered exposure); property shipped by mail; or contraband or property in the course of illegal transportation or trade.

IH 00 85 also provides some additional coverages for the insured.

The coverage form covers loss or damage resulting from misidentification of the covered property.

It pays for expenses to remove debris of covered property caused by or resulting from a covered cause of loss that occurs during the policy period. There are some restrictions on this coverage that should be noted. The expenses will be paid only if they are reported to the insurer in writing within 180 days of the date of loss. The most that will be paid is twenty-five percent of the amount paid for the direct physical loss plus the deductible. Payment under this additional coverage does not increase the applicable limit of insurance, but if the debris removal expense exceeds the amount payable under the twenty-five percent limitation, the insurer will pay up to an additional $5,000 in any one occurrence. And, this additional coverage does not apply to costs to extract pollutants from land or water.

Under another additional coverage, IH 00 85 does pay for the expense to extract pollutants from land or water if the discharge or dispersal or escape of the pollutants is caused by a covered cause of loss that occurs during the policy period. The most to be paid under this coverage is $10,000 for the sum of all covered expenses during each separate twelve month period of the policy; this is in addition to the limit of insurance. What is not covered under this part of IH 00 85 is the cost to test for, monitor, or assess the existence or effects of pollutants.

The final additional coverage is for preservation of property. If it is necessary to move covered property from the described premises to preserve it from loss or damage by a covered cause of loss, IH 00 85 pays for any direct physical loss or damage to that property while it is being moved or while temporarily stored at another location. For the coverage to apply, the loss or damage must occur within thirty days after the property is first moved. This additional coverage does not increase the limit of insurance.