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Commercial Coverage Comparison

Building & Business Personal Property – Commercial Multi Peril

Coverage Description	Citizens Commercial Multi Peril	Safepoint Insurance Company	Comments or Explanations
Coverage Type	Basic Form, CP 10 10 06 07	Basic form, CP 10 10 06 07	Broader coverage availiable subject to underwriting review and approval
Valuation Basis	Replacement Cost for Building and Business Personal Property	Replacement Cost for Building and Business Personal Property	No change in terms
Tenants Improvements & Betterments Valuation Basis	Replacement Cost	Replacement Cost	No change in terms
Minimum Building Limits	$100,000	$100,000	No change in terms
Maximum Building Limits Available	$2,500,000 based on 100% Replacement Cost of building limit, including First Loss	$2,500,000 based on Replacement Cost of building limit. First Loss is not provided by SafePoint.	Policies assumed from Citizens will be offered renewal limits per expiring. Higher building limits may be available up to $5,000,000, subject to underwriting review and acceptability.
Minimum limits for Business Personal Property	N/A	$25,000	Policies assumed from Citizens will be offered renewal limits per expiring. Higher limits up to $2,000,000 may be available and are subject to underwriting review and acceptability.
Maximum limits for Business Personal Property	$2,000,000	$2,000,000	No change in terms
Total Insured Values on Policy	$4,500,000	$5,000,000	Total combined limits on policy.
Coinsurance	100% of Replacement Cost	100% of Replacement Cost	SafePoint is able to offer 80% and 90% Coinsurance options based on Replacement Cost of building limit.
Wind & Hail Deductible	2%, 3%, 5%, 10%, 15% and 20%	2%, 3%, 5%, and 10% options are available	Policyholders with higher than 15% and 20% Wind & Hail Deductible will be offered at renewal 10% Wind & Hail Deductible.
All Other Perils Deductible	Minimum of $1,000 up to $100,000;	Minimum of $1,000 up to $25,000; Financial Statements are required for AOP deductibles $15,000 and higher.	Policyholders with higher than $25,000 AOP deductibles will be offered at renewal optional deductible amount.
Sinkhole Coverage	Available with Citizens	Available with SafePoint	Specific counties require sinkhole inspections.
Optional Coverages	Certified Acts of Terrorism Sinkhole Coverage	Certified Acts of Terrorism Sinkhole Coverage	Renewal Offers for Assumption policies will be issued per expiring terms.
Coverage Enhancements	Not available with Citizens	The following additional coverages may be available with SafePoint: Special Form, CP 10 30 Business Income Property Extension Endorsement Equipment Breakdown	Policies assumed from Citizens will be offered renewal terms per expiring. Coverage Enhancements may be available if requested and are subject to underwriting review and acceptability.

Building & Business Personal Property – Wind Only Policies

Coverage Description	Citizens Commercial Multi Peril	Safepoint Insurance Company	Comments or Explanations
Coverage Type	Wind Only	Wind Only	No change in terms
Valuation Basis	Replacement Cost for Building Actual Cash Value for Business Personal Property	Replacement Cost for Building and Business Personal Property	SafePoint offers Replacement Cost for Business Personal Property
Tenants Improvements & Betterments Valuation Basis	Actual Cash Value	Replacement Cost	SafePoint offers Replacement Cost for Improvements & Betterments
Minimum Building Limits	N/A	n/a	Policies assumed from Citizens will be offered renewal limits per expiring .
Maximum Building Limits Available	$1,000,000 for total limits (Building, Business Personal Property, and Improvements and Betterments combined)	$1,000,000 for total limits (Building, Business Personal Property, and Improvements and Betterments combined) with renewal option to write full Replacement Cost Value up to $5,000,000	Policies assumed from Citizens will be offered renewal limits per expiring. For policies with First Loss cover, SafePoint is able to provide full RCV limits for Wind only policies up to $5,000,000.
Minimum limits for Business Personal Property	N/A	N/A	Policies assumed from Citizens will be offered renewal limits per expiring .
Maximum limits for Business Personal Property	$1,000,000 for total limits (Building, Business Personal Property, and Improvements and Betterments combined)	$1,000,000 for total limits (Building, Business Personal Property, and Improvements and Betterments combined)	Policies assumed from Citizens will be offered renewal limits per expiring. Higher limits may be available subject to underwriting review and acceptability.
Total Insured Values on Policy	$1,000,000 Total Combined Limit	up to $5,000,000 Total Combined Limit	SafePoint reserves the right to offer higher limits for Wind Only policies subject to underwriting review and acceptability.
Coinsurance	80%, 90% and 100%; Agreed Value on First Loss policies	80%, 90% and 100%. Agreed Value is not available with SafePoint.	SafePoint does not provide First Loss coverage. Replacement Cost limits may be available for wind only, up to $5,000,000 subject to underwriting review and acceptability.
Wind & Hail Deductible	2%, 3%, 5%, 10%, 15% and 20%	2%, 3%, 5%, and 10%	Policyholders with higher than 15% and 20% Wind & Hail Deductible will be offered at renewal 10% Wind & Hail Deductible.
Optional Coverages	Certified Acts of Terrorism	Certified Acts of Terrorism	Renewal Offers for Assumption policies will be issued per expiring terms.
Coverage Enhancements	Not available with Citizens	Not available with SafePoint for Wind Only policies	Policies assumed from Citizens will be offered renewal terms per expiring.

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