This article presents a description of OP 00 01 with its coverages, exclusions, definitions, and conditions.

Topics covered:

Covered property

Property not covered

Additional coverages

Additional coverages with limits

Crime coverages

Business income

Exclusions

Conditions

Optional coverages

Definitions

Endorsements

Covered Property

 OP 00 01 pays for direct physical loss of or damage to covered property at covered locations (a defined term) caused by or resulting from any covered cause of loss. The policy is an open peril causes of loss policy, with the causes of loss curtailed only by the listed exclusions and limitations.

 The covered property resembles that found on the building and personal property coverage form, CP 00 10 10 12; see Building and Personal Property Coverage Form.

 The first item of covered property is the building, meaning buildings and structures that include the following:

 1.completed additions;

2.glass that is part of the building or structure;

3.fixtures, including outdoor fixtures;

4.permanently installed machinery, equipment, platforms, and bins;

5.personal property owned by the named insured and used to maintain or service a building or structure or the covered location, including fire extinguishing equipment, outdoor furniture, floor coverings, heating, air conditioning and ventilation equipment, and appliances used for refrigerating, ventilating, cooking, dishwashing or laundering;

6.builders risk, if not covered by other insurance;

7.awnings and canopies if located within 1,000 feet of a covered building;

8.fences

9.television and radio towers, antennas and satellite dishes guy wires, lead-in wiring and masts if the property is located within 1,000 feet of the named insured's covered building;

10.signs;

11.foundations of buildings, structures, machinery or boilers;

12. bulkheads, pilings, piers, wharves, or docks;

13.underground pipes, flues, or drains; and

14.retaining walls.

 Next is the business personal property of the named insured. This is business personal property located in the buildings at the covered locations or in the open within 1,000 feet of the covered location. Business personal property includes stock, labor and materials furnished or arranged by the named insured on personal property of others, the named insured's use interest as tenant in improvements and betterments, and leased personal property for which the named insured has a contractual responsibility to insure. Also included is personal property that will become part of the insured's installation, erection, or fabrication project while at the site of the project or in temporary storage (does not apply to builders risk). Mobile equipment located anywhere within the coverage territory, if not covered by other insurance, is also considered business personal property.

 Personal property of others in the care, custody, or control of the named insured is also covered property under the terms of OP 00 01.

 Property Not Covered

 As with other property coverage forms, OP 00 01 has a category of property that, by reason of its nature or particular risk exposure, is termed as property not covered. This property is better suited for other types of insurance policies. Property not covered by OP 00 01 includes the following:

 1.Accounts, bills, currency, food stamps, other evidences of debt, money, notes, securities, or valuable papers and records (except as otherwise provided for in the policy);

2.aircraft and watercraft—watercraft does not include rowboats or canoes while out of water at the insured's covered location; watercraft or aircraft the insured manufactures for sale is covered, though;

3.animals, except those that others own and board with the insured or are the insured's stock inside buildings;

4.autos, motorcycles, motorhomes, mobile equipment, or tractors held for sale, lease, loan, or rent;

5.business personal property while airborne or waterborne except when being transported by regularly scheduled airlines of ferry services;

6.bridges, roadways, walks, patios, or other paved surfaces;

7.contraband or property in the course of illegal transportation or trade;

8.the cost of excavations, grading, backfilling, or filling unless needed to repair, rebuild, or replace covered property;

9.electronic data, except as specifically provided under the additional coverages section of the policy;

10.exported and imported property that is covered under an ocean marine cargo insurance policy;

11.fine arts except as specifically provided elsewhere in the policy;

12.grain, hay, straw, or other crops while outside of buildings;

13.land, water, growing crops, or lawns;

14.property in transit;

15.property that is covered under another insurance form except for the excess amount due from the other insurance;

16.property of others for which the insured has a responsibility as a carrier for hire or as a broker, carloader, consolidator, freight forwarder, shipping association, or similar arranger of transportation;

17.property the insured has sold and delivered unless sold with a an installation agreement;

18.property the insured has sold under an installment sales contract or similar agreement or leased property;

19.trees, shrubs, and plants;

20.vehicles or self-propelled machines that are licensed for use on public roads, except such vehicles that the insured manufactures, processes, or warehouses or held for sale, lease, loan, or rent.

 Additional Coverages

 The limits of insurance for the additional coverages are within, not in addition to, the limits stated in the declarations as applicable to the covered property, with one exception: the automatic increase additional coverage. The additional coverages include brands and labels expense; debris removal; automatic increase; fire department service charge; ordinance or law; personal effects; reward payment; trees, shrubs, and plants; electronic data; limited coverage for fungi, wet rot, and dry rot; and water damage.

 Under the brands and labels expense coverage, the insurer agrees to pay reasonable expenses that the named insured incurs to stamp the word "salvage" on the merchandise that is covered property damaged by a covered cause of loss. Also covered is the cost to remove the brands or labels, if doing so will not physically damage the merchandise. This coverage usually applies when the insurer takes the covered property for salvage after it has been damaged.

 The cost to remove debris of covered property is paid by the insurer if the costs are reported to the insurer in writing within 180 days of the date of loss. Debris removal coverage does not apply to costs to remove pollutants from land or water. The most that the insurer will pay for debris removal will never exceed the limit of insurance on the covered property that has sustained loss. The insurer will pay up to an additional $50,000 for debris removal for each location in any one occurrence of damage to covered property if certain circumstances apply. The bottom line is that the total payment for direct physical loss or damage and debris removal expense may reach but will never exceed the limit of insurance on the covered property that has sustained loss or damage, plus $50,000.

 The limit of insurance for building and business personal property will automatically increase by 2 percent annually unless a different percentage is shown on the declarations, Scheduled Location endorsement, or Scheduled Mobile Equipment endorsement.

 When the fire department is called to save or protect covered property from a covered cause of loss, the insurer will pay up to $10,000 for the named insured's liability for such service. No deductible applies to this additional coverage offered under OP 00 01.

 The ordinance or law coverage applies to coverage for loss to the undamaged portion of the building, demolition costs, and the increased cost of construction. The loss to the undamaged portion of the building refers to the loss in value of the undamaged portion when an ordinance or law requires demolition of this part of the covered building that has been damaged by a covered cause of loss. The most paid for demolition costs is $100,000 per occurrence; coinsurance does not apply to this coverage. The same is true of the increased cost of construction coverage. The enforcement of ordinances or laws requiring demolition, repair, replacement, reconstruction, remodeling, or remediation of property due to contamination by pollutants or to the presence, growth, proliferation, spread, or any activity of wet or dry rot or fungi or the costs associated with enforcement of ordinances or laws requiring testing for, monitoring, cleaning up, removing, containing, treating, detoxifying, neutralizing, responding to, or assessing the affects of fungi, wet or dry rot, or pollutants.

 OP 00 01 allows the insured to extend business personal property coverage to personal effects owned by the named insured and his officers, partners, or employees. This coverage extension does not apply to loss or damage by theft. The most paid under this coverage is $10,000 per occurrence.

 The insurer agrees to reimburse the named insured for rewards paid to persons for information leading to the arrest and conviction of any person committing a crime that results in loss to covered property. Also paid is a reward for the return of stolen covered property. The amount paid under this provision is up to $10,000.

 Coverage is extended to trees, shrubs, and plants when a loss occurs, except for loss caused by wind, weight of snow, ice, or rain, or vehicles. The most paid here is $25,000 per occurrence, but not more than $1,000 per tree, shrub, or plant.

 The insurer also agrees to pay for the cost to replace or restore electronic data (a defined term) that has been destroyed or corrupted by a covered cause of loss. The covered causes of loss are limited to the specified causes of loss—which is a defined term—collapse, and a virus or harmful code designed to damage or destroy any part of the computer system. The most paid under this additional coverage is $100,000 for all loss or damage sustained in any one policy year.

 The form adds limited coverage for fungi, wet rot, and dry rot when fungi or wet rot or dry rot is the result of certain listed causes of loss and only if all reasonable means were used to save and preserve the property from further damage at the time of and after the occurrence. The coverage provides up to $15,000 (unless a different limit is shown in the declarations). The amount does not increase the applicable limit of insurance.

 The form also adds an additional coverage for water damage. The coverage provides for the necessary cost of tearing out and replacing part of a building or structured for covered water damage from a plumbing, heating, air conditioning, ventilation, automatic fire protective sprinkler system, or a household appliance. The coverage does not apply to sumps, sump pumps, or related equipment.

 Additional Coverages with Limits

 The following items are covered up to a $100,000 limit, except as otherwise indicated; this limit is separable from and will not reduce the limit of insurance shown in the declarations as applicable to covered property: accounts receivable; business personal property off covered location; fine arts; and valuable papers and records. The coverage for property off covered locations applies anywhere in the world that the named insured does not own, lease, or operate; the coverage extension does not apply to property in transit or property located in any country or jurisdiction that is subject to trade or other economic sanction or embargo by the United States. Fine arts is a defined term and payment is on a market value basis.

 The following items are covered up to a $50,000 limit—except as otherwise indicated—separate from the limit shown on the declarations page: consequential loss; fire extinguisher systems expense; inventory and appraisal expense; pollution cleanup and removal; property in transit; installment sales property; bulk liquid tank storage; and business personal property temporarily in portable storage units.

 The consequential loss coverage applies to the reduction in value of undamaged business personal property parts of a product that becomes unmarketable. The pollution cleanup coverage is for costs to extract pollutants from land or water at the named insured's covered location if the release or escape of the pollutants is caused by a covered cause of loss and reported to the insurer in writing within 180 days of the date of loss. The property in transit coverage is for property in transit between points in the coverage territory and property shipped by any type of carrier or vehicle. Property is covered while located within the United States, its territories and possessions, Canada, and Puerto Rico.

 The installment sales property additional coverage applies to property that the insured has sold under an installment sales contract or similar type of agreement and to leased property (a defined term). Coverage applies for installment sales until the covered property is fully paid for by the purchaser. Leased property coverage applies until the end of the period for which the covered property is leased, rented, or sent out on approval. In no event will coverage apply after the end of the policy period. The bulk liquid tank storage additional coverage provides a $50,000 limit per occurrence with a $100,000 annual aggregate. Coverage for unintended leakage of liquid stored in an above ground tank is provided. The business personal property temporarily in portable storage units applies to such property while temporarily stored in a portable storage unit located within 1,000 feet of a covered location. This coverage ends 90 days after the property has been placed in the storage unit.

 Crime Coverages

 The limits of insurance shown on the declarations for these crime coverages are separate from and do not reduce the limits of insurance shown for the covered property. The crime coverages are for employee theft, forgery or alteration, money and securities, and money orders and counterfeit money. The most paid under these coverages is $25,000 for any one occurrence, except for the money orders and counterfeit money coverage which provides $5,000 in coverage for any one loss. No deductible applies to the money orders and counterfeit money coverage.

 Employee theft coverage applies to loss of or damage to money, securities, and other property resulting directly from theft committed by an employee. The coverage does not apply to loss, the proof of which as to its existence or amount is dependent upon any inventory computation or a profit and loss computation. The money and securities coverage applies to loss that results from theft, disappearance, or destruction.

 Note that business personal property coverage is extended to apply to loss resulting directly from the named insured having accepted, in good faith and in exchange for merchandise, money or services; money orders issued by any post office, express company, or bank that are not paid on presentation; or counterfeit money that is acquired during the regular course of business.

 Business Income

 There are three coverage options for the insured to choose in this category. Option one is for business income and extra expense including rental value. Option two is for business income and extra expense other than rental value. The last option is rental value and extra expense.

 The coverage here is for the actual loss of business income that the named insured sustains due to the necessary suspension of operations during the period of restoration; the suspension has to be caused by direct physical loss of or damage to property at the covered location. The coverage basically follows the program as laid out in the business income and extra expense coverage form, CP 00 30. For information on this, see Business Income (and Extra Expense) Coverage Form, and see Extra Expense Insurance.

 There are some additional business income coverages under this part of OP 00 01. Loss caused by the actions of civil authority that prohibit access to the covered location is covered only if the covered location is not more than one mile from the damaged property and the civil authority's action is taken in response to dangerous physical conditions resulting form the covered cause of loss that caused the damage or if the action is taken to enable a civil authority to have unimpeded access to the damaged property.

 Loss sustained due to loss or damage to new buildings and alterations or additions to existing buildings is also covered. Contractual penalties imposed by written contract between the named insured and customers for failure to deliver products on time are also paid under this part of OP 00 01; the most to be paid is $25,000 per occurrence with a $100,000 annual aggregate limit. Business income and extra expense losses caused by damage to dependent properties is also covered, up to $100,000 per occurrence. And, the insured can extend the business income insurance to apply to a suspension of operations caused by an interruption in computer operations due to destruction or corruption of electronic data due to a covered cause of loss. The most the insurer will pay is $50,000 for all loss sustained and expense incurred in any one policy year, regardless of the number of interruptions or computer systems involved.

 The policy has an additional coverage for food contamination to the time element coverage. The coverage provides $25,000, unless a different limit is indicated, for any one occurrence when a named insured's business as a covered location is ordered closed by the Board of Health or another governmental authority, the cost to replace contaminated food or food that is expected to be contaminated or is actually contaminated. The expense to provide necessary medical tests of vaccinations for the named insured's infected employees and the business income lost due to the suspension of operations is covered. A limit of $10,000 for food contamination advertising expenses incurred to restore the named insured's reputation is provided as well.

 Exclusions

 The coverage under OP 00 01 is on an open peril causes of loss basis, but there are some listed exclusions and limitations. For more information on these exclusions, see Causes of Loss.

 The first set of exclusions apply whether or not the loss event results in widespread damage or affects a substantial area, and regardless of any other cause or event that contributes concurrently or in any sequence to the loss or damage.

 This first set of exclusions includes earth movement, including earthquake, landslide, mine subsidence, earth sinking, and volcanic eruption. This exclusion does not apply to accounts receivable, computers, property on exhibition, fine arts, mobile equipment, property in transit, salespersons' samples, or valuable papers and records.

 The policy contains an exclusion for intentional losses, which represents a reduction in coverage. This exclusions bars coverage for acts an insured commits or conspires to commit with the intent to cause loss. Even insureds who did not commit the act or conspire to commit are not covered.

 OP 00 01 excludes loss or damage caused by the failure of power, communication, water, or other utility service supplied to the covered location, however caused, if the failure originates outside of a covered building. Failure includes lack of sufficient capacity and reduction in supply. This exclusion also includes loss or damage caused by power surge if the surge would not have occurred except for the event causing a power failure. The exclusion does not apply to resulting loss to computers.

 Loss due to water is also included here in the exclusion sections. Loss or damage from flood, surface water, waves (including tidal waves and tsunamis), tidal water, tides, overflow of any body of water or spray from these sources—whether or not wind driven—mudslide, mudflow, water that backs up or is otherwise discharged from a sewer, drain, sump pump, or sump, water under the ground surface pressing on or seeping through foundations, walls, floors, paved surfaces, basements, doors, windows, other openings, or waterborne material carried or moved by water as defined is excluded. The exclusion applies whether the water is caused by an act of nature or otherwise. The exclusion does not apply to accounts receivable, computers, property on exhibition, fine arts, mobile equipment, property in transit, salespersons' samples, or valuable papers and records.

 Loss or damage caused by the presence, growth, proliferation, spread, or any activity of fungi or wet or dry rot is not covered. Loss or damage resulting from or caused by any virus, bacterium, or other microorganism that induces or is capable of inducing physical distress, illness, or disease is also not covered.

 Other familiar exclusions include governmental action, nuclear hazard, war and military action, computer-related losses, and ordinance or law.

 OP 00 01 also has a second set of exclusions, starting with electrical apparatus. Loss or damage caused by artificially generated electrical, magnetic, or electromagnetic energy that damages, disturbs, disrupts, or otherwise interferes with electrical or electronic wires, devices, appliances, systems, or networks—including those that use satellite or cellular technology—is not covered, although if this results in fire, the policy will pay for the loss caused by the fire. This exclusion does not apply to resulting loss to computers.

 Other causes of loss are included in this second set of exclusions: consequential loss; wear and tear; smoke, vapor, or gas; explosion; liquid seepage or leakage; frozen plumbing; dishonest or criminal acts by the named insured, partners, officers, and employees; and, pollution.

 False pretense losses and losses caused by errors or omissions in processing or storing information on computers are excluded by OP 00 01. There is also an exclusion pertaining to installation, testing, repair, or other similar service performed upon the computer.

 The special exclusions applying to business income and extra expense coverage are present in OP 00 01. For information on these exclusions, see Causes of Loss.

 The additional coverage of collapse is in OP 00 01 but the coverage is limited as it is on the commercial property form. See Causes of Loss.

 OP 00 01 has an additional exclusion for loss or damage to products. The exclusion addresses errors in production and excludes loss or damage to merchandise, goods, or other products caused by or resulting from error or omission by any person or entity in any stage of the development, production, or use of the product.

 OP 00 01 has a set of limitations that apply. Loss to steam boilers and hot water boilers is not covered. Property that is missing where the only evidence of the loss is an inventory shortage is not covered. Loss to furs and fur garments is limited to $10,000. There is a $25,000 limit for loss to jewelry, watches, jewels, pearls and precious stones, gold, silver, and other precious metals. Stamps, tickets, and letter of credit have a loss limit of $5,000.

 Conditions

 OP 00 01 has a set of loss conditions, additional conditions, and capital assets program coverage form conditions. These conditions track with those found under the commercial property program of ISO, and include such items as abandonment; appraisal; duties in the event of loss; loss payment; vacancy provisions; valuation; mortgageholders; coinsurance; concealment or fraud; no benefit to bailee; party walls; and other insurance. For more information on these conditions, see Commercial Property Conditions. Also see Building and Personal Property Coverage Form.

 Optional Coverages

 If shown as applicable on the declarations, the actual cash value optional coverage applies separately to each item. If chosen, the ACV option replaces replacement cost in the valuation loss condition of OP 00 01.

 There are also optional coverages that apply only to the business income and extra expense coverages. The insured can choose a maximum period of indemnity, a monthly limit of indemnity, or agreed value. To activate this last option, the insured must submit a business income report/worksheet to the insurer that shows financial data for the insured's operations during the twelve months prior to the date of the worksheet.

 Definitions

 There are over twenty definitions on the capital assets program coverage form. The meanings of the various terms are important since coverages and exclusions sometimes hinge on what a word or phrase means.

 Accounts receivable means all amounts due from the named insured's customers that he is unable to collect, interest charges, collection expenses, and other reasonable expenses incurred by the named insured to reestablish the records of the accounts receivable.

 Builders risk refers to buildings and structures while being constructed, altered, or repaired. Building materials and supplies, fixtures and machinery, and equipment used to service the building are also included if they are intended to be permanently located in or on a covered building. While in the course of construction, foundations are also considered part of this definition. Also included are temporary structures at the site, and building materials or supplies that are owned by others, in the insured's care, custody, or control, or that are located in, on, or within 1,000 feet of a covered building.

 A computer is programmable electronic equipment that is used to receive, process, store, retrieve, or send data. The definition includes component parts, air conditioning, fire suppression equipment, and electrical equipment used exclusively in the computer operations of the named insured. Data and media are not included in the definition.

 Counterfeit money is an imitation of money that is intended to deceive and to be taken as genuine.

 A covered location is any premises or location where the named insured has buildings or structures that he owns, leases, or operates.

 Dependent property means property, operated by others whom the named insured relies on to deliver materials or services to the named insured (contributing location); accept the named insured's products or services (recipient location); manufacture products for delivery to the named insured's customers (manufacturing location); or attract customers to the named insured's business (leader location).

 Electronic data means information, facts, or computer programs stored on, used on, or transmitted to or from computer software.

 An employee includes both permanent employees and also temporary workers who substitute for the permanent employees who may be on leave. An employee is also a person leased to the named insured by a labor leasing firm, a former employee acting as a consultant, a guest student or intern, employees of merged or acquired entities, and managers, directors, and trustees while acting within the normal scope of employment or acting as a member of a committee. Independent contractors are not considered employees.

 Fine arts are paintings, drawings, lithographs, rugs, tapestries, statuary, bronzes, porcelains, marbles, antique furniture, rare books, and other bona fide items of artistic merit.

 Finished stock means stock that the insured manufactures but does not include stock manufactured and held for sale on the covered location of any retail outlet insured under this policy.

 Fungi is any type or form of fungus, including mold and mildew, and mycotoxins, spores, scents, or byproducts released by fungi.

 Leased property means property that the insured leased, rented, or sent out for approval.

 A manager is a person serving in a directorial capacity for a limited liability company, and a member is an owner of such a company.

 Market value means the price that the property might be expected to realize prior to loss or damage if offered for sale.

 A messenger is the insured, a relative, or partners, members, or employees who have care, custody, or control of property outside of covered buildings.

 Mobile equipment is defined as contractors' equipment and similar items of a mobile nature; unlicensed vehicles not operated on public roadways; and self propelled vehicles built and utilized for carrying equipment attached to them.

 Occurrence is defined, but only for certain coverages under OP 00 01. With respect to employee theft, an occurrence is an individual act, the combined total of all separate related and unrelated acts, or a series of related or unrelated acts committed by an employee acting alone or in collusion with others. With respect to forgery or alteration coverage, an occurrence is an individual act, the combined total of all separate related or unrelated acts, or a series of related or unrelated acts involving one or more instrument and committed by a person acting alone or in collusion with others. And finally, as to money and securities, an occurrence is an individual act or event, the combined total of all separate related or unrelated acts, or a series of related or unrelated acts committed by a person acting alone or in collusion with others, or not committed by any person.

 Operations means the business activities occurring at the named insured's covered location. For business income including rental value and rental value coverage, operations means the tenantability of your covered location.

 Other property is tangible property other than money and securities that has intrinsic value. Computer programs, electronic data, and any property excluded by the policy are not part of this definition.

 Payroll is the payroll expenses of all the employees of the named insured, including employee benefits, FICA payments, union dues, and workers compensation premiums paid by the named insured.

 Period of restoration, rental value, and suspension are terms associated with the business income and extra expense coverages. For information on these definitions, see Business Income (and Extra Expense) Coverage Form.

 Pollutants are solid, liquid, gaseous, or thermal irritants or contaminants.

 Securities are negotiable and nonnegotiable instruments or contracts representing either money or other property but does not include money or lottery tickets.

 Specified causes of loss means fire; lightning; explosion; windstorm or hail; smoke; aircraft or vehicles; riot or civil commotion; vandalism; leakage from fire extinguishing equipment; sinkhole collapse; volcanic action; falling objects; weight of snow, ice, or sleet; and water damage.

 Stock is merchandise held in storage or for sale, raw materials, and in-process or finished goods.

 A tank is a permanently installed structure designed to contain liquid contents.

 Theft means the unlawful taking of money, securities, or other property to the deprivation of the insured.

 Valuable papers and records are inscribed, printed, or written documents, manuscripts, or records. However, this term does not include money or securities.

 Endorsements

 There are many optional endorsements that are provided in this program that can modify the coverages and exclude some causes of loss. The following list is not exhaustive, but it does provide a sample of endorsements that could be used with this program.

 OP DS 01 04 13 is the capital assets program declarations. This endorsement lists the property limits of insurance and the property coverage options for the insured (actual cash value, automatic increase coverage percentage, replacement cost—mobile equipment, installment sales property—dual interest, and limited fungi, wet rot, and dry rot coverage). There is also a space for the insured to list the business income and extra expense limits of insurance along with the business income coverage options. OP DS 01 allows the insured to describe any fine arts in transit and valuable papers and records. Finally, there is a space for the mortgagee and loss payee name and mailing address, and a space for the total premium at policy inception.

 The capital assets program also has a supplemental declarations, OP DS 02 04 13. This endorsement lists twenty-six coverages that the insured can choose from, and the limit of insurance per occurrence can also be listed.

Flood coverage can also be endorsed onto the policy with a single occurrence limit of insurance and an annual aggregate limit via the Flood Coverage Schedule, OP DS 03 04 13.

 The Below Ground Water and Backup of Sewer and Drain Coverage endorsement, OP 04 01 04 13, provides coverage for loss or damage to covered property caused by or resulting from water or water-borne material overflowing from sewers, drains, sumps, and from underground surfaces flowing or seeping through foundations, basements, or doors. This coverage does not apply to loss or damage resulting from an insured's failure to perform the routine maintenance or repair of all sump pumps and related equipment. The most the insurer will pay for this coverage is a total of $50,000 per occurrence (unless a different limit of insurance is shown in the declarations).

 The Transit Backhaul endorsement, OP 04 02 07 02, is used to cover the insured's legal liability for loss or damage to property of others that, as a common or contract carrier, the insured is legally obligated to pay as a result of any bill of lading, contract of carriage, or shipping receipt issued by the insured. The endorsement applies to direct physical loss or damage to the property of others due to a covered cause of loss while the property is in transit. The property must be under the care, custody, or control of the named insured and in or on an owned or leased vehicle that the named insured operates.

 Endorsement OP 04 03 07 02, Vehicle Physical Damage Coverage, declares that when a vehicle is scheduled on the endorsement, the insurer will pay for direct physical loss or damage to the vehicle caused by a covered cause of loss. There is a deductible on this coverage, and if two or more scheduled vehicles are involved in the same loss, only the highest deductible for the vehicles involved in the loss will be applied as a single loss deductible to the total loss amount. As for the valuation of the loss, the most the insurer will pay in any one occurrence is the lesser of the actual cash value of the loss or damage to the vehicle as of the time of loss, or the cost to repair or replace the loss or damage to the vehicle with property of like kind and quality. This endorsement defines a vehicle as a self-propelled machine for on-land use and includes autos, motorcycles, motortrucks, motorhomes, tractors, and similar vehicles; mobile equipment is not included.

 Spoilage Coverage, OP 04 05 10 10, was updated in the 2010 revision. Explicit reference to "mechanical failure" was added for consistency with similar ISO commercial property endorsements. The form provides a schedule and adds perishable stock as covered property for the purposes of loss caused by breakdown or contamination or power outage, whichever is chosen on the schedule as covered causes of loss.

 Coverage for loss or damage to covered property caused by the interruption of service (water supply, communication supply and power supply) outside the insured's covered building is provided by the Utility Services – Direct Damage endorsement, OP 04 06 04 13. This endorsement contains a schedule that allows the insured to describe the location of the building and the covered property and the utility services limit of insurance. There is an exception to the coverage to note: the coverage under this endorsement does not apply to loss or damage to electronic data, including destruction or corruption of electronic data.

 OP 15 06 07 02 offers limited worldwide business income and extra expense coverages. Similarly, the Amendment of Coverage Territory – Business Personal Property Off Covered Locations, OP 99 04 07 02, extends the territory to anywhere in the world. The coverage is for business personal property off covered locations and the limit of insurance is $100,000. OP 99 04 also has a schedule for the insured to specify excluded countries or jurisdictions. The information required to complete this schedule, if not shown on this endorsement, will be shown in the declarations. The format of OP 15 06 is similar to OP 99 04 except that the limit of insurance is $50,000.