Sample Agenda Item New or Rewrite ( please specify )
DEBRIS REMOVAL BROADENING ENDORSEMENT
BACKGROUND :
Many times , debris removal coverage is not adequate , especially on total losses . Also , different regions have higher debris removal costs than others . Currently , debris removal is 25 % of the amount of the loss but is not considered additional insurance . There is more than $ 10,000 coverage that is additional but that is not adequate most of the time .
SUGGESTED SOLUTION :
We need a broadening endorsement that could be purchased for an additional premium to make the 15 % debris removal as additional coverage . It would not have the 25 % limitation to the amount of the loss but would be a full 25 % of the property value for debris removal that could be used on any covered property loss . This endorsement would negate the policy provision that limits it to 25 % of the loss and also the $ 10,000 additional coverage , replacing it with coverage for the full 25 % if purchased . Also , this same endorsement would have the ability to increase the percentage from 25 % to higher percentages . In this way , the requirements of geographical areas as well as certain types of property that might have higher debris removal exposures could be satisfied .