Homeowners policy (HO2, wind only) has this exclusion:
14.Exterior Paint Or Waterproofing Coverage for any building or structure under this Policy excludes loss caused by a Peril Insured Against to paint or waterproofing material, including stain, applied to the exterior of the building or structure.
Appraisal award came back including damage to stucco. Award lines included stucco patch and redash stucco. Does the policy owe for these damages or not?
Florida Subscriber
The items listed in this exclusion are ancillary items added as a protectant to the home's normal construction. Stucco is a structural construction material, and redashing is applied to repair cracks and other damage; therefore the exclusion does not apply and there should be coverage for the redashing of the stucco. The appraisal including an amount for the stucco is simply showing the amount necessary to pay for the covered damage, and isn't actually making a coverage determination.
Christine G. Barlow, CPCU
Christine G. Barlow, CPCU, is Executive Editor of FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Christine has over thirty years’ experience in the insurance industry, beginning as a claims adjuster then working as an underwriter and underwriting supervisor handling personal lines. Christine regularly presents and moderates webinars on a variety of topics and is an experienced presenter.