ISO's Agricultural Capital Assets (Output Policy)
July, 2007
Summary: The Insurance Services Office (ISO) has introduced an agricultural capital assets program that enables insurers to provide coverage and flexibility for medium to large agricultural accounts. Eligible classes of business are: farms, ranches, retail, wholesale, service and any other agricultural related business. The form used for this is AG 00 01 09 07, which provides insurance for buildings, business personal property, accounts receivable, property in transit, crime exposures, business income, and other risks that face commercial insureds. Coverages that are built in to this policy include: blanket building and business personal property coverage, blanket household personal property coverage, automatic replacement coverage, brands and label expense coverage, installation floater coverage, mobile equipment coverage, glass coverage, debris removal coverage, annual automatic increase in coverage for building and business personal property, business income and extra expense coverage, limited coverage for fungi, wet or dry rot.
This article offers a description of AG 00 01 with its coverages, exclusions, definitions, and conditions.
Topics covered:
Package or monoline policies
Covered Property
Property not covered
Additional Coverages
Additional coverages with Limits
Additional crime coverages
A single set of forms and endorsements is used with either the monoline policy or when packaged with general liability, commercial auto or boiler and machinery policies. Attach common policy conditions endorsement IL 00 17 to the coverage form.
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