State-specific requirements or unusual coverage needs may require additional, separate endorsement(s).

Topics covered:

Part I A – main coverages

Covered property—buildings

Covered property—business personal property

Covered property—personal property of others

Business income/extra expense coverage

Part I B – supplemental coverages

Pollution cleanup cost coverage

Water damage

Part I C – cause of loss options

Specified causes of loss

Part I D – property exclusions/limitations

Part I E property loss limitations

Part I F – losses not insured

Part I G– special part I conditions

Part I H – glossary

Part I – common conditions

Part I – common exclusions

Endorsements preprinted in the MSO general property form

 Part I A – Main Coverages

 Insuring Agreement

A. We provide insurance for those of the following coverages for which a specific limit of liability and related premium charge is shown in the Declarations (the term "Declarations" also includes a Supplemental Declarations or any other similar form), subject to all applicable provisions. If a series of Declarations or Change Endorsements are issued, then this term means the current Declarations or Change Endorsement.

B. Unless otherwise specifically provided in this policy, this insurance applies only to covered loss that takes place during the current policy term on the applicable described premises.

C. With respect to personal property covered by this policy (including any covered within the definition of or by Extension of Coverage A), coverage is extended to covered loss that also takes place outdoors (meaning not in a building) on, or within 100 feet of, the described premises.

D. Insuring Agreement Qualification

The Coverages in this policy are subject to certain Exclusions and Limitations, including Part I Common Exclusions and Parts I D, E, and F.

 Analysis

 Although many coverages are preprinted in the General Property Form, insurance applies only where a specific limit and premium for that coverage is shown in the declarations, the supplemental declarations, or an attached endorsement.

 Insurance applies only to covered loss, a term defined at length in the perils section of the form. The term essentially refers to damage or destruction of covered property by a covered peril. If theft is a covered peril, then loss by theft is also a covered loss—even if the property is not damaged or destroyed.

 Unless otherwise stated, a covered loss must take place during the policy period. This is substantially different from the wording in ISO's commercial property conditions, which covers loss or damage commencing during the policy period. Suppose a fire starts burning at 11:00 p.m. and the policy period ends at 12:01 a.m., before the fire is extinguished. ISO's commencing language makes it clear that fire damage taking place after 12:01 a.m. is still covered by the expiring policy. A literal interpretation of the MSO language holds that the policy in force when the fire started covers only the direct damage that takes place up until the moment when the policy expires. As regards business income and extra expense, a provision discussed later specifically states that the period of indemnity is not limited by expiration of the policy term.

 To be covered, a loss must also take place on the applicable described premises. Described premises is not a defined term.

The form also covers loss to personal property that is outdoors or within 100 feet of the described premises. This phrasing could leave a coverage gap in some instances. Consider property on the first-floor loading dock that belongs to a business on the twentieth floor of a high-rise building that lists Suite 2000 as the described premises. The property is not outdoors, and it is not within 100 feet of Suite 2000. ISO addressed a similar coverage gap in the 2012 revision of its building and personal property coverage form.

 Covered Property—Buildings

 Coverage A – Buildings/Structures