BUILDINGS AND CONTENTS
All buildings and contents insured under the Diocesan Master
Insurance Program are insured on an all risk, replacement cost
basis. The policy agrees, subject to its limitations, terms,
and conditions, to pay your location for all risks of physical
loss or damage to insured property occurring during the policy
period. Limit of coverage is up to 125% of stated location
values on file with DISC.
REPLACEMENT COST COVERAGE
Locations are covered for the full cost of
repair or replacement. This coverage provides for reimbursement
of the actual cost to repair or replace damaged property without
- A condition of the replacement cost provision is
that the actual building or contents MUST BE REPLACED on the
same site or an alternate site, within a reasonable period of
time following the date of loss.
- If the building or contents are NOT REPLACED, settlement
will be on a sound or actual cash value basis which is defined
as cost new, less depreciation.
All buildings and contents are insured on
a special form, all risk basis. This provides coverage
against all perils except those that are specifically excluded
in the policy form.
- Principal exclusions to all property sections are
wear-and-tear; war or military action; ordinance or law; cracking,
settling, or bulging of foundations, pavements, etc.; and other
common policy exclusions.
- Flood and earthquake coverages are provided on
a catastrophic basis only and are subject to a $500,000 per occurrence
deductible and $25,000,000 annual limit for all locations combined.
Values shown on the Certificate of Insurance
for each insured location have been taken from appraisals prepared
by American Appraisal Associates, Inc. where available. Appraisals are updated each year by American Appraisal, adding in increases for construction
costs as well as any changes reported to them. Every location must use
the appraisal update forms mailed annually by D.I.S.C. to report these changes.
- IT IS IMPORTANT THAT YOU REPORT ANY NEW CONSTRUCTION,
MAJOR REMODELING, NEW PROPERTY ACQUISITIONS, AND DEMOLITIONS ON YOUR ANNUAL
UPDATE FORM. IF YOUR VALUES ON FILE ARE NOT UP-TO-DATE, YOU MAY BE PENALIZED
AT TIME OF LOSS BY THE 125% RECOVERY LIMITATION.
A $1,000 per occurrence deductible is applicable
to all property claims for all parishes and institutions.
STATE/SCHOOL BOARD-OWNED SCHOOL EQUIPMENT
No coverage is provided under the D.I.S.C.
Master Insurance Program for state/school board-owned or state/school
board-provided school equipment, books, furnishings, mobile classroom
units, or contents.
MISCELLANEOUS DWELLINGS, BUILDINGS, AND OTHER PROPERTY
Please report ownership of all various dwellings, buildings,
or other property to the Diocesan Property/Casualty Insurance
Department so that proper coverage may be obtained. It
may be necessary to specifically insure items in this category
since they may not be covered under the blanket provisions of
the master policy.
PERSONAL PROPERTY OF PRIESTS, RELIGIOUS TEACHERS, VOLUNTEERS,
Coverage IS NOT provided for the personal
property of priests, clergy, religious teachers, volunteers,
or employees under this program. Therefore, it is necessary
for the clergy and others to continue their individual homeowners/tenants
or other policies relating to their personal insurable exposures.
BUSINESS INTERRUPTION/EXTRA EXPENSE
The Master Plan provides business interruption/extra expense
coverage for each location. For schools, this coverage
is known as School Interruption Expense. This protection
provides recovery of actual loss of revenue and/or payment for
increased or additional expenses incurred to continue operating
or for use of temporary quarters due to damage to insured buildings
or contents by peril insured against under the policy.
The master policy provides $500,000 blanket
coverage for the cost of reproducing valuable records or papers
that were destroyed by a peril insured against under this policy.
ARCHITECT FEES AND CODE UPDATES
The program provides coverage for the cost of architect fees
as well as for any increased costs that may be necessary to meet
current building and safety codes when rebuilding due to a loss
insured against under the policy.
DOCUMENTATION REQUIREMENTS OF SACRED VESSELS AND ART OBJECTS
Each parish in the Diocese is required by Canon Law to have
on file at the rectory office an updated inventory with complete
descriptions of all sacred vessels, objects, vestments, and fine
arts that are owned by the parish and insured under the Diocesan
Master Insurance Program. It is important to have a current
appraisal listing these objects, with color photographs, on file
and available for the insurance adjuster. A copy of such
an inventory should also be sent to the Chancery.
According to Canon 1283, a pastor or anyone entrusted with a
church office entailing administration of ecclesiastical goods
is to "prepare, sign, and subsequently renew an accurate
and detailed inventory of immovable goods, movable goods, either
precious or of significant cultural value, or other goods along
with a description and appraisal of them; one copy of this inventory
is to be kept in the archives of the administration; the other,
in the curial archives; any change whatever which the patrimony
may undergo is to be noted on each copy."