Topics covered:
Introduction
Duties in event of a loss or claim
Loss settlement provisions
Loss settlement provisions—Forms 5 and 8
Conditions applicable to all coverages
Conditions applicable to property coverages only

Introduction

Although many of the AAIS policy provisions and conditions are similar to those found in the ISO homeowners forms, there are differences. For example, the ISO form states that the insured must, in case of loss to covered property, “protect the property from further damage.” Contrast this with the AAIS wording “take all reasonable steps to protect covered property at and after an insured [italics added] loss…” The following discussion centers on the AAIS language; differences from the ISO form are noted.

For defined terms used in the following discussion, seeProperty Coverages—AAIS Homeowners; and seeLiability Coverages—AAIS Homeowners.

The following discussion focuses on Form 3, the Special Form (similar to the ISO HO 00 03 04 91; the differences in loss settlement provisions of Form 8, the Limited Form (similar to the ISO HO 00 08 04 91) and Form 5, the Special Building and Contents Form (ISO has no similar form) are indicated.