R.I. Gen. Laws § 27-5-3
The form of the standard fire insurance policy of the state of Rhode Island, with permission to substitute for the word "company" or "companies" a more accurate descriptive term for the type of insurer, shall be as follows:
No
Space for insertion of name of company or companies issuing the policy and other matter permitted to be stated at the head of the policy.
Space for listing amounts of insurance, rates, and premiums for the basic coverages insured under the standard form of policy and for additional coverages or perils insured under endorsements attached.
In consideration of the provisions and stipulations herein or added hereto and of ............... dollars premium this company, for the term of .............
from the ...... day of ............., 20 .... |
to the ...... day of ............., 20 .... |
at 12:01 a.m. standard time at |
location of property involved, |
to an amount not exceeding ..................... dollars, does insure, .......................... and legal representatives, to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality within a reasonable time after a loss, without allowance for any increased cost of repair or reconstruction by reason of any ordinance or law regulating construction or repair, and without compensation for loss resulting from interruption of business or manufacture, nor in any event for more than the interest of the insured, against all direct loss by fire and lightning, and by removal from the premises endangered by the perils insured against in this policy, except as hereinafter provided, to the property described hereinafter while located or contained as described in this policy, or pro rata for five (5) days at each proper place to which any of the property shall necessarily be removed for preservation from the perils insured against in this policy, but not elsewhere.
Assignment of this policy shall not be valid except with the written consent of this company.
This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated, which are hereby made a part of this policy, together with such other provisions, stipulations, and agreements as may be added hereto, as provided in this policy.
IN WITNESS WHEREOF, this company has executed and attested these presents;
at . . . ..
SecretaryPresident
In the event the domicile state of the company issuing the policy requires a Rhode Island company to have a countersignature affixed by a licensed resident agent to a policy issued in that state then in accordance with the provisions of § 27-2-17, the form of the standard fire insurance policy shall in lieu of the foregoing execution and attestation clause contain the following execution and attestation clause: IN WITNESS WHEREOF, this company has executed and attested these presents; but this policy shall not be valid unless countersigned by the duly authorized agent of this company at ..........
. . . ..
SecretaryPresident
Countersigned this ..... day of .......... 20 ....
Agent
1 | Concealment, This entire policy shall be void if, whether | |
2 | fraud. | before or after a loss, the insured will- |
3 | fully concealed or misrepresented any material | |
4 | fact or circumstance concerning this insurance or the subject | |
5 | thereof, or the interest of the insured therein, or in the case of | |
6 | any fraud or false swearing by the insured relating thereto. | |
7 | Uninsurable This policy shall not cover accounts, bills, | |
8 | and excepted currency, deeds, evidences of debt, money, or | |
9 | property. | securities; nor, unless specifically named here- |
10 | on in writing, bullion or manuscripts. | |
11 | Perils not | This company shall not be liable for loss by |
12 | included. | fire or other perils insured against in this |
13 | policy caused, directly or indirectly, by: (a) | |
14 | enemy attack by armed forces, including action taken by mili- | |
15 | tary, naval, or air forces in resisting an actual or an immedi- | |
ately | ||
16 | impending enemy attack; (b) invasion; (c) insurrection; (d) | |
17 | rebellion; (e) revolution; (f) civil war; (g) usurped power; (h) | |
18 order of any civil authority except acts of destruction at the time | ||
19 | of and for the purpose of preventing the spread of fire, provided | |
20 | that this fire did not originate from any of the perils excluded | |
21 | by this policy; (i) neglect of the insured to use all reasonable | |
22 | means to save and preserve the property at and after a loss, or | |
23 | when the property is endangered by fire in neighboring prem- | |
24 | ises; (j) loss by theft. | |
25 | Other Insurance. Other insurance may be prohibited or the | |
26 | amount of insurance may be limited by an | |
27 | endorsement attached hereto. | |
28 | Conditions suspending or restricting insurance. Unless | |
29 | otherwise provided in writing and added hereto this company | |
or companies shall not | ||
30 | be liable for loss occurring: | |
31 | (a) While the hazard is increased by any means within the con- | |
32 | trol or knowledge of the insured; or | |
33 | (b) While a described building, whether intended for occupancy | |
34 | by owner or tenant, is vacant or unoccupied beyond a period | |
of | ||
35 | sixty (60) consecutive days or | |
35A thirty (30) consecutive days subsequent to the date on which an | ||
35B order is issued by the local building inspector pursuant to | ||
§ 23-27.3-124.2, | ||
35C whichever first occurs; or | ||
36 | (c) As a result of explosion or riot, unless fire ensues, and in | |
37 | that event for loss by fire only. | |
38 | Other perils Any other peril to be insured against or sub- | |
39 | or subjects. | ject of insurance to be covered in this policy |
40 | shall be by endorsement in writing hereon or | |
41 | added hereto. | |
42 | Added provisions. The extent of the application of insurance | |
43 | under this policy and of the contribution to | |
44 | be made by this company in case of loss, and any other pro- | |
45 | vision or agreement not inconsistent with the provisions of this | |
46 | policy, may be provided for in writing and added hereto, but no | |
47 | provision may be waived except such as by the terms of this | |
48 | policy is subject to change. | |
49 | Waiver | No permission affecting this insurance shall |
50 | provisions. | exist, or waiver of any provision is valid, |
51 | unless granted herein or expressed in writing | |
52 | and added hereto. No provision, stipulation, or forfeiture shall | |
53 | be held to be waived by any requirement or proceeding on the | |
54 | part of this company relating to appraisal or to any examina- | |
55 | tion provided for herein. | |
56 | Cancellation This policy shall be cancelled at any time | |
57 | of policy. | at the request of the insured, in which case |
58 | this company shall, upon demand and sur- | |
59 | render of this policy, refund the excess of the paid premium | |
above | ||
60 | the customary short rates for the expired time. This pol- | |
61 | icy may be cancelled at any time by this company by giving | |
62 | to the insured a thirty (30) days' written notice of cancellation | |
except that when cancellation is for nonpayment of premium, a ten (10) | ||
days' written notice shall be required with | ||
63 | or without tender of the excess of the paid premium above the | |
pro | ||
64 | rata premium for the expired time. | |
65 | Notice of cancellation shall | |
66 state that the excess premium (if not tendered) will be promptly | ||
67 | re-funded. | |
68 | Mortgagee | If loss hereunder is made payable, in whole |
69 | interests and or in part, to a designated mortgagee not | |
70 | obligations. | named herein as the insured, that interest in |
71 | this policy may be cancelled by giving to that | |
72 | mortgagee a ten (10) days' written notice of | |
73 | cancellation. | |
74 | If the insured fails to render proof of loss the mortgagee, upon | |
75 | notice, shall render proof of loss in the form herein specified | |
76 within sixty (60) days thereafter and shall be subject to the pro- | ||
77 | visions hereof relating to appraisal and time of payment and of | |
78 | bringing suit. If this company shall claim that no liability ex- | |
79 | isted as to the mortgagor or owner, it shall, to the extent of the | |
pay- | ||
80 | ment of loss to the mortgagee, be subrogated to all the mort- | |
81 | gagee's rights of recovery, but without impairing the mort- | |
gagee's | ||
82 | right to sue; or it may pay off the mortgage debt and require | |
83 | an assignment thereof and of the mortgage. Other provisions | |
84 | relating to the interests and obligations of the mortgagee may | |
85 | be added hereto by agreement in writing. | |
86 | Pro rata liability. This company shall not be liable for a | |
87 | greater proportion of any loss than the | |
88 amount hereby insured shall bear to the whole insurance cover- | ||
89 | ing the property against the peril involved, whether collectible | |
or not. | ||
90 | Requirements in The insured shall give immediate written | |
91 | case loss occurs. notice to this company of any loss, protect | |
92 | the property from further damage, forth | |
with | ||
93 | separate the damaged and undamaged personal property, put | |
94 | it in the best possible order, furnish a complete inventory of | |
95 | the destroyed, damaged, and undamaged property, showing in | |
96 | detail quantities, costs, actual cash value and amount of loss | |
97 | claimed; and within sixty (60) days after the loss, unless such | |
98 | time is extended in writing by this company, the insured shall | |
99 | render to this company a proof of loss, signed and sworn to by | |
100 | the insured, stating the knowledge and belief of the insured as | |
to | ||
101 | the following: the time and origin of the loss, the interest of the | |
102 | insured and of all others in the property, the actual cash value | |
of | ||
103 | each item thereof and the amount of loss thereto, all encum- | |
104 | brances thereon, all other contracts of insurance, whether valid | |
105 | or not, covering any of the property, any changes in the title, | |
106 | use, occupation, location, possession, or exposures of the prop- | |
107 | erty since the issuing of this policy, and by whom and for what | |
108 | purpose any building herein described and the several parts | |
109 | thereof were occupied at the time of loss and whether or not it | |
110 | then stood on leased ground, and shall furnish a copy of all the | |
111 | descriptions and schedules in all policies and, if required, veri- | |
112 | fied plans and specifications of any building, fixtures, or | |
machin- | ||
113 | ery destroyed or damaged. The insured, as often as may be | |
114 | reasonably required, shall exhibit to any person designated by | |
115 this company all that remains of any property herein described, | ||
116 and submit to examinations under oath by any person named by | ||
117 | this company, and subscribe the same; and, as often as may be | |
118 | reasonably required, shall produce for examination all books of | |
119 | account, bills, invoices, and other vouchers, or certified copies | |
120 | thereof if the originals are lost, at such reasonable time and | |
place as | ||
121 | may be designated by this company or its representative, and | |
122 | shall permit extracts and copies thereof to be made. | |
123 | Appraisal. | In case the insured and this company shall |
124 | fail to agree as to the actual cash value or | |
125 | the amount of loss, then, on the written demand of either, each | |
126 | shall select a competent and disinterested appraiser and notify | |
127 | the other of the appraiser selected within twenty (20) days of | |
128 | that demand. The appraisers shall first select a competent and | |
129 | disinterested umpire; and failing for fifteen (15) days to agree | |
130 | upon the umpire, then, on request of the insured or this com- | |
131 | pany, the umpire shall be selected by a judge of a court of | |
132 record in the state in which the property covered is located. The | ||
133 | appraisers shall then appraise the loss, stating separately ac- | |
tual | ||
134 | cash value and loss to each item; and, failing to agree, shall | |
135 | submit their differences, only, to the umpire. An award in writ- | |
136 | ing, so itemized, of any two (2) when filed with this company | |
shall | ||
137 | determine the amount of actual cash value and loss. Each | |
138 | appraiser shall be paid by the party selecting him or her and | |
139 | the expenses of appraisal and the umpire shall be paid by | |
140 | the parties equally. | |
141 | Company's | It shall be optional with this company to |
142 | options. | take all, or any part, of the property at the |
143 | agreed or appraised value, and also to re- | |
144 pair, rebuild, or replace the property destroyed or damaged with | ||
145 | another of like kind and quality within a reasonable time, on | |
146 | giving notice of its intention so to do within thirty (30) days | |
147 | after the receipt of the proof of the loss herein required. | |
148 | Abandonment. There can be no abandonment to this com- | |
149 | pany of any property. | |
150 | When loss | The amount of loss for which this company |
151 | payable | may be liable shall be payable sixty (60) |
152 | days after proof of loss, as herein provided, | |
153 | is received by this company and ascertainment of the loss is | |
154 | made either by agreement between the insured and this com- | |
155 | pany expressed in writing or by the filing with this company | |
156 | of an award as herein provided. | |
157 | Suit. | No suit or action on this policy for the recov- |
158 | ery of any claim shall be sustainable in any | |
159 | court of law or equity unless all the requirements of this policy | |
160 | shall have been complied with, and unless commenced within | |
161 | twenty-four (24) months next after inception of the loss. | |
162 | Subrogation. This company may require from the insured | |
163 | an assignment of all rights of recovery. | |
164 | against any party for loss to the extent that payment therefor | |
165 | is made by this company. |
Standard Fire Insurance Policy of the State of
Expires . . . ..
Property . . . ..
Assured . . . ..
No. (COMPANY)
It is important that the written portions of all policies covering the same property read exactly alike. If they do not, they should be made uniform at once.
R.I. Gen. Laws § 27-5-3