Common use of Property Coverage Clause in Contracts

Property Coverage. Property Coverage provides protection against losses due to perils such as fire, vandalism, theft, and water damage, and is only required when a contractor takes custody of County owned or leased property (for example, contractor occupies a County building, or is given County computers to use at non-County locations, such as the contractor’s business premises). Contractors given exclusive use of County owned or leased property shall carry property coverage at least as broad as that provided by the ISO special causes of loss (ISO policy form CP 10 30) form. The County and its Agents shall be named as an Additional Insured and Loss Payee on contractor’s insurance as its interests may appear. Automobiles and mobile equipment shall be insured for their actual cash value. Real property and all other personal property shall be insured for their full replacement value.

Property Coverage. Property Coverage provides protection against losses due to perils such as fire, vandalism, theft, and water damage, and is only required when a contractor takes custody of County owned or leased property (for example, contractor occupies a County building, or is given County computers to use at non-non- County locations, such as the contractor’s business premises). Contractors given exclusive use of County owned or leased property shall must carry property coverage at least as broad as that provided by the ISO special causes of loss (ISO policy form CP 10 30) form. The County and its Agents shall must be named as an Additional Insured and Loss Payee on contractor’s insurance as its interests may appear. Automobiles and mobile equipment shall must be insured for their actual cash value. Real property and all other personal property shall must be insured for their full replacement value.