Insures consumer products purchased with credit proceeds (or pledged as collateral) against specific loss occurrences causing damage to, or disappearance of, the property.



This company shall not be liable for more than the actual cash value of the property at the time any loss or damage occurs, and the loss or damage shall be ascertained or estimated according to such actual cash value, with proper deductions for depreciation, however caused, and in no event for more than what it would cost the assured or seller to repair or replace the same with material of like kind and quality, except that in the event of a total loss to any article sold on a partial payment plan which is replaced by the assured, this Company’s liability shall not exceed the amount insured by this policy.



The Company’s liability for the loss or damage to the insured shall not exceed the limits specified in this policy nor exceed the lowest of the following limits:

  1. The cost of repair or replacement of the property insured; or

  2. The actual cash value of the property insured at the time of loss; or

  3. The amount of any impairment of the named insured’s interest as by the Purchaser’s or Borrower’s unpaid balance not more than sixty (60) days past due.  Such unpaid balance shall not include penalties or other charges which may not have been added to such unpaid balance after the perception date of such contract or loan agreement.











Perils insured against:  Fire and lightning at all times within policy limits, extended coverage consisting of loss or damage from the perils of windstorm, cyclone, tornado, hail, explosion, riot, riot attending a strike, civil commotion, aircraft, vehicles and smoke and burglary from within a building or room (of which there must be visible evidence of forcible entry).



Loss or damage to goods by decay, wetness or dampness.  Mechanical breakdown, neglect, hostile or war-like action in time of peace or war, radioactive contamination, loss from riots, civil commotion or revolution.  Refer to policy for complete list and explanation.