The Property coverage of the IB program provides "all risk" protection for perils such as fire, lightning, windstorm, rainstorm, explosion, collapse, smoke and theft. The IB program has a blanket limit to cover the building and its contents. Two benefits of the IB program are: there is no coinsurance penalty, and there is unintentional underinsurance coverage up to 25%. Within the Property coverage you can choose your deductible between $1,000 and $50,000 which allows you the opportunity to manage your insurance policy to suit your congregation’s needs.
The IB program has a broad range of Property coverage including optional earthquake and flood coverage for the churches that need it.
Property Coverage Includes *:
- Buildings (replacement cost up to policy limits): Church, Parsonages, School, etc.
- Contents: Contents including Pews, Furniture, Fixtures, Ceremonial Objects, etc.
- Boiler & Machinery Equipment
- Computers, Software, Disks, Office Equipment, Supplies, etc.
- Business Personal Effects of Clergy, Officers and Others
- Stained Glass, Organs, Pianos, and Musical Equipment
- Valuable Documents and Records
- Business Income and Accounts Receivable
- Newly Acquired Property and Property in Transit
- Ground Improvements: Fences, Signs, Trees, Shrubs, and Plants
- Owned Watercraft
- Debris Removal and Pollutant Clean-up
* Subject to coverage terms and policy limits.
Special Features of the IB Program:
- Upgrade to Green Endorsement
- Ordinance Protection (Demolition & Increased Cost of Construction)
- Boiler & Machinery coverage automatically included
Optional Coverage for IB Participants:
- Fine Arts
- Miscellaneous Articles & Equipment
- Alternate Deductibles
- Loss of Tuition & Fees