Property/Casualty Coverage Options: Property Coverage

Property coverage provided by the TASB Risk Management Fund is on a blanket basis; therefore, an agreed amount endorsement is not needed. There is no scheduled limit or cost on a per building basis. TASB also has no coinsurance requirement, thus affording the district more coverage without the possibility of a coinsurance penalty in the event of a loss. Coverage is subject to a minimum deductible of $1,000.

Districts may choose from two cause of loss forms which are Risk of Direct Physical Loss or Named Perils as well as three valuation alternatives which include Replacement Cost, Actual Cash Value, and Stated Value.

School districts joining the program within 60 days of their appraisal may have their appraisal fees (including travel) credited toward their annual contribution.

All personal property is covered while in transit or at a location off district property.

Various Extensions of Coverage are included at no additional charge, subject to sublimits. For additional contribution, some sublimits can be increased. The Extensions of Coverage include the following:

• Newly Acquired Property
• Trees, Shrubs, and Plants
• Extra Expense and Loss of Revenue
• Valuable Papers
• Cost of Demolition and Increased Cost of Repair
• Debris Removal
• Food Spoilage
• Auxiliary Structures
• Property in Transit
• Flood and Earthquake coverage is available for an additional contribution.

Floaters are available for purchase which allow the district to "buy down" the deductible amount on certain categories of property. Electronic Data Processing Equipment Coverage is also available which includes coverage for hardware, software, and extra expense.