Insurance Exclusions

Exclusions

Certain items of insured property are either not insured or are specifically excluded from coverage depending on the particular terms of an insurance policy. The four most common exclusions are basement excavations, below-grade foundations; underground plumbing, piping and conduits; and architectural fees.

Since the exclusion of these or any other items from the total replacement cost is an underwriting philosophy rather than an element or function of the valuation process, the deduction of these items is left to the discretion of the user.