Will endorsement provisions regarding scheduled property override the flood exclusion on the policy? This week's Q&A says it won't override scheduled farm equipment. But what if it was scheduled personal fine arts. In most cases scheduled fine arts can be written as a separate policy from the homeowner policy but some companies insist it be a rider. How would your answer to this question change if it was scheduled personal fine arts.
New York Subscriber
It's all going to depend on the actual language found in the endorsements and the policy. If the endorsement has the standard "all other provisions apply" then the policy provisions concerning anything not addressed in the endorsement will prevail. In the ISO schedule, the HO 04 61, the form states: This coverage is subject to the: 1. Definitions; 2. Section I – Conditions; and 3. Sections I and II – Conditions; in the policy and all provisions of this endorsement. Any deductible stated in this policy does not apply to this coverage. So while certain property is scheduled and covered for certain perils, the endorsement clearly states what parts of the homeowners policy prevail over the endorsement. In this case, the conditions sections apply, and those involve duties after a loss, deductibles, cancellation provisions, etc.
In this situation the endorsement has no exclusion for water damage, and Section I Conditions and Sections I and II Conditions do not contain any exclusions, so there would be coverage. But that's looking at the ISO forms; if you're looking at different forms they may be worded differently, and the answer could be different depending on the forms involved. It's all a matter of what the policy language actually says.