Today, many insurers are issuing their own version of a MOP, and the eligibility has been expanded to include most commercial clients. The purpose of this article is to present coverage features that are common to many manufacturer's output policies as well as some typical optional coverages. As there is no standard, industry-wide MOP, you may find that the MOPs you use have more features or fewer features than what we will discuss here. Most likely, you also will find higher or lower limits for some of the coverages than those presented in this article. 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.