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ISO Form IH 00 73

Summary: The Insurance Services Office (ISO) has an Installation Coverage form IH 00 73 12 11 that is used to meet the needs of building owners, tenants, or contractors who require broad coverage for the property used in renovating or upgrading buildings. The form can be used in conjunction with CM 00 01 09 04 commercial inland marine conditions form, and IL 00 17 11 98 common policy conditions forms.

This is the newest edition of the form; the prior form is IH 00 73 08 02. Changes have been made to some coverages, and they will be highlighted in this discussion.

Topics covered:

Introduction

Insuring agreement

Property not covered

Covered causes of loss

Additional coverages

Coverage options

Exclusions

Limits of insurance

Deductible; additional conditions

Definitions

Endorsements

Introduction

Installation coverage form IH 00 73 12 11 is commonly used to provide broad coverage for building owners, contractors, or tenants who are renovating or upgrading buildings. The form differs from the builders risk coverage form in that the builders risk must have the applicable causes of loss form attached to provide coverage on a building under construction, while the installation coverage form provides open perils coverage on the materials to be permanently installed in a building. A building owner intending to remodel or renovate the building would be likely to purchase this coverage.

The form can be used in conjunction with CM 00 01 09 04 commercial inland marine conditions form and IL 00 17 11 98 to form a policy that will cover most of the insured’s property on the construction site and in transit, as long as the property is intended to become a permanent part of the project. Thus, dry wall, trim boards, ducts, lighting, and even paint would be covered if they are intended to become a permanent part of the building.

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