We will identify features as a means for you to compare with the features of your own contract. MOPs are property coverage contracts. Typically they will insure buildings, business personal property and time element coverages on a blanket basis. Risks of direct physical loss are the insured perils. While flood and earthquake coverages usually are not automatically included in the coverage, these perils can be added by endorsement.
MOPs have the ability to put different deductibles on various perils.
A typical example is coverage for flood. Flood insurance can be purchased from the National Flood Insurance Program. My understanding is that no private insurer is allowed to compete with the federal program. Time element AAIS uses three coverage options as its starting point when providing time element coverages. The operation of a building ordinance or law can increase the amount of time it takes to restore a firm to operating condition.