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Advisory Groups icon showing a tornadoProperty Insurance Summary

A summary of property insurance coverages, exclusions, and policy information is provided below.  Coverage may vary by agency and property. For additional information, please contact the Risk Management & Tort Defense Division. For a detailed policy review and a summary of program requirements, please click here for PDF (41kb) or here for Word (80kb). For a current list of insured properties please access the State of Montana Property Casualty Insurance Information System (PCIIS).

  1. Insurer(s): Lexington U.S.A., Lexington of London, Lloyd's of London, Great American.

  2. Broker: Driver Alliant Insurance Services (Newport Beach, California).

  3. Term: 7/1 to 6/30 each fiscal year.

  4. Cause of Loss Covered: All risk of direct physical loss, subject to exclusions. Coverage applicable includes, but is not limited to; fire, explosion, windstorm, hail, riot, vandalism and malicious mischief, earthquake, and flood.

  5. Property Covered: All real and personal property owned or leased by the state or for which the state is legally obligated to insure. Coverage includes vehicles garaged at state locations, business income, electronic data processing media/equipment, landscaping, golf courses, athletic fields, tunnels, bridges, catwalks, dams, jewelry, furs, precious metals, stones, watercraft, and rolling stock.

  6. Perils Excluded: The policy does not insure against loss resulting by any of the following:

    1. Loss or damage caused by or resulting from moth, vermin, termites or other insects, inherent vice, latent defect, faulty workmanship, error in design or materials, wear and tear and gradual deterioration, contamination, pollution, corrosion, rust, wet or dry rot, mold, dampness of atmosphere, smog or extremes of temperature.
    2. Delay or loss of markets.
    3. Infidelity or any dishonesty on part of the insured, including inventory shortage or unexplained disappearance.
    4. Loss from nuclear perils.
    5. Loss from war, rebellion, insurrection or by order of any government or public authority.
    6. Loss or damage to personal property caused by processing, renovating, repairing or faulty workmanship.
    7. Loss or damage to personal property resulting from shrinkage, evaporation, loss of weight, exposure to light or change of color, texture or flavor.
    8. Loss or damage to property due to changes of temperature or changes in relative atmosphere, humidity where personal property is left in the open.
    9. Loss or damage to steam boilers, pipes, turbines, or engines directly caused by bursting, rupture, cracking, or explosion originating therein.

  7. Property Excluded: The policy excludes the following types of property:

    1. Aircraft, watercraft and vehicles licensed for road use (except when garaged in or within 1000' of building).
    2. Railroad rolling stock, except that of Montana Heritage Commission.
    3. Land, bodies of water, standing timber, and growing crops.

  8. Valuation of Property: The actual expenditure for repair or replacement of damaged or destroyed property for real and personal property and with regard to loss of income, the loss incurred for the time to rebuild, replace or repair the property. For vehicles damaged, the actual cash value, except for fire engines.

  9. Limits of Liability:

    $1,000,000,000 All perils, per occurrence
    $  400,000,000 Earthquake
    $  100,000,000 Flood ($5,000,000 Flood Zone A)
    $  100,000,000 Business Income (rental value included)
    $  100,000,000 Terrorism (PEPIP Members combined)
    $    50,000,000 Course of Construction
    $    40,000,000 Expediting Expenses
    $    40,000,000 Extra Expense
    $    40,000,000 Errors & Omissions
    $    25,000,000 Automatic Acquisition
    $    25,000,000 Transit
    $    25,000,000 Increased Cost of Construction
    $    25,000,000 Off-Premises Service Interruption
    $    10,000,000 Service Interruption (Time Element)
    $      5,000,000 Business Income Toston Dam Only
    $      5,000,000 Scheduled Landscaping
    $      2,500,000 Money & Securities
    $      2,500,000 Unscheduled Fine Arts
    $      2,500,000 Watercraft up to 27 feet
    $      2,500,000 Contingent Business Interruption
    $      2,500,000 Research Animals
    $      1,000,000 International property
    $         500,000 Unscheduled tunnels, bridges, dams, catwalks, etc.
    $         500,000 Jewelry, Furs, Precious Metals, and Stones
    $         500,000 Claims Preparation Expenses
    $      1,000,000 Personal Property Outside the U.S.

  10. Deductibles:

    1. $500,000 per occurrence for tunnels, bridges, dams, catwalks, etc.
    2. $500,000 per occurrence all risk.
    3. $1,000 per agency, per occurrence for all perils, including specially trained animals.
    4. 24 hour waiting period for Service interruption.