Form library / Commercial property
CP 00 10
Building and Personal Property Coverage Form
Edition in catalog: 10 12 · base
What this number is
CP 00 10 is the building and personal property coverage form. It is the main property contract for scheduled buildings, business personal property, and (when shown) the property of others.
What it changes on a policy
Together with a causes-of-loss form (CP 10 10, CP 10 20, or CP 10 30), it decides what kinds of damage to those items the policy considers. Valuation, coinsurance, and many water or ordinance exclusions live here or on attached endorsements.
What it does not do
It does not, by itself, cover business income. That is a separate form such as CP 00 30. Tools in transit or at a jobsite often sit on inland marine, not on CP 00 10.
Where it shows up
Property declarations list the buildings and personal-property limits. The form schedule should show CP 00 10 plus a causes-of-loss form.
What to look for
- Replacement cost versus actual cash value
- Coinsurance percentage
- Which causes-of-loss form is attached
- Ordinance or law (CP 04 05 / CP 15 31) if you occupy an older building
Coverbird reads the declarations and form schedule on the PDF you already have. It does not sell insurance or say whether a limit is enough.
Upload a policy to find this on yoursRelated glossary
- Coinsurance
A property penalty if you insure a building or contents for less than the required percentage of value.
- Declarations page
The front pages that list who is insured, what is covered, the term, premium, and limits.
- Business income
Coverage for lost net income and continuing expenses when a covered property loss shuts you down.
- Replacement cost
Valuation that pays to replace property with new property of like kind, without deducting depreciation.