§ 27-5-3 — § 27-5-3. Form of standard policy.

§ 27-5-3. Form of standard policy.

The form of the standard fire insurance policy of the state of Rhode Island, with permission to substitute for the word "company� or "companies� a more accurate descriptive term for the type of insurer, shall be as follows:

No

Space for insertion of name of company or companies issuing the policy and other matter permitted to be stated at the head of the policy.

Space for listing amounts of insurance, rates, and premiums for the basic coverages insured under the standard form of policy and for additional coverages or perils insured under endorsements attached.

In consideration of the provisions and stipulations herein or added hereto and of ............... dollars premium this company, for the term of .............

	from the ...... day of ............. , 20 ....
	to the ...... day of ............. , 20 ....
	at 12:01 a.m. standard time at
	location of property involved,

to an amount not exceeding ..................... dollars, does insure, .......................... and legal representatives, to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality within a reasonable time after a loss, without allowance for any increased cost of repair or reconstruction by reason of any ordinance or law regulating construction or repair, and without compensation for loss resulting from interruption of business or manufacture, nor in any event for more than the interest of the insured, against all direct loss by fire and lightning, and by removal from the premises endangered by the perils insured against in this policy, except as hereinafter provided, to the property described hereinafter while located or contained as described in this policy, or pro rata for five (5) days at each proper place to which any of the property shall necessarily be removed for preservation from the perils insured against in this policy, but not elsewhere.

Assignment of this policy shall not be valid except with the written consent of this company.

This policy is made and accepted subject to the foregoing provisions and stipulations and those hereinafter stated, which are hereby made a part of this policy, together with such other provisions, stipulations, and agreements as may be added hereto, as provided in this policy.

IN WITNESS WHEREOF, this company has executed and attested these presents;

at .........................................

.......................................		.......................................
Secretary		President

In the event the domicile state of the company issuing the policy requires a Rhode Island company to have a countersignature affixed by a licensed resident agent to a policy issued in that state then in accordance with the provisions of §â€‚27-2-17, the form of the standard fire insurance policy shall in lieu of the foregoing execution and attestation clause contain the following execution and attestation clause: IN WITNESS WHEREOF, this company has executed and attested these presents; but this policy shall not be valid unless countersigned by the duly authorized agent of this company at .........................................

.........................................

.......................................		.......................................
Secretary		President

Countersigned this ..... day of .......... 20 ....

		.......................................
		Agent

1	Concealment,	This entire policy shall be void if, whether
2	fraud.	before or after a loss, the insured will-
3		fully concealed or misrepresented any material
4	fact or circumstance concerning this insurance or the subject
5	thereof, or the interest of the insured therein, or in the case of
6	any fraud or false swearing by the insured relating thereto.
7	Uninsurable	This policy shall not cover accounts, bills,
8	and excepted	currency, deeds, evidences of debt, money, or
9	property.	securities; nor, unless specifically named here-
10		on in writing, bullion or manuscripts.
11	Perils not	This company shall not be liable for loss by
12	included.	fire or other perils insured against in this
13		policy caused, directly or indirectly, by: (a)
14	enemy attack by armed forces, including action taken by mili-
15	tary, naval, or air forces in resisting an actual or an immedi-
	ately
16	impending enemy attack; (b) invasion; (c) insurrection; (d)
17	rebellion; (e) revolution; (f) civil war; (g) usurped power; (h)
18	order of any civil authority except acts of destruction at the time
19	of and for the purpose of preventing the spread of fire, provided
20	that this fire did not originate from any of the perils excluded
21	by this policy; (i) neglect of the insured to use all reasonable
22	means to save and preserve the property at and after a loss, or
23	when the property is endangered by fire in neighboring prem-
24	ises; (j) loss by theft.
25	Other Insurance. Other insurance may be prohibited or the
26		amount of insurance may be limited by an
27	endorsement attached hereto.
28	Conditions suspending or restricting insurance. Unless
29	otherwise provided in writing and added hereto this company
	or companies shall not
30	be liable for loss occurring:
31	(a) While the hazard is increased by any means within the con-
32	trol or knowledge of the insured; or
33	(b) While a described building, whether intended for occupancy
34	by owner or tenant, is vacant or unoccupied beyond a period
	of
35	sixty (60) consecutive days or
35A	thirty (30) consecutive days subsequent to the date on which an
35B	order is issued by the local building inspector pursuant to
	§ 23-27.3-124.2,
35C	whichever first occurs; or
36	(c) As a result of explosion or riot, unless fire ensues, and in
37	that event for loss by fire only.
38	Other perils Any other peril to be insured against or sub-
39	or subjects.	ject of insurance to be covered in this policy
40		shall be by endorsement in writing hereon or
41	added hereto.
42	Added provisions. The extent of the application of insurance
43		under this policy and of the contribution to
44	be made by this company in case of loss, and any other pro-
45	vision or agreement not inconsistent with the provisions of this
46	policy, may be provided for in writing and added hereto, but no
47	provision may be waived except such as by the terms of this
48	policy is subject to change.
49	Waiver	No permission affecting this insurance shall
50	provisions.	exist, or waiver of any provision is valid,
51		unless granted herein or expressed in writing
52	and added hereto. No provision, stipulation, or forfeiture shall
53	be held to be waived by any requirement or proceeding on the
54	part of this company relating to appraisal or to any examina-
55	tion provided for herein.
56	Cancellation This policy shall be cancelled at any time
57	of policy.	at the request of the insured, in which case
58		this company shall, upon demand and sur-
59	render of this policy, refund the excess of the paid premium
	above
60	the customary short rates for the expired time. This pol-
61	icy may be cancelled at any time by this company by giving
62	to the insured a thirty (30) days' written notice of cancellation
except that when cancellation is for nonpayment of premium, a ten (10)
days' written notice shall be required with
63	or without tender of the excess of the paid premium above the
	pro
64	rata premium for the expired time.
65	Notice of cancellation shall
66	state that the excess premium (if not tendered) will be promptly
67	re-funded.
68	Mortgagee	If loss hereunder is made payable, in whole
69	interests and or in part, to a designated mortgagee not
70	obligations.	named herein as the insured, that interest in
71		this policy may be cancelled by giving to that
72		mortgagee a ten (10) days' written notice of
73	cancellation.
74	If the insured fails to render proof of loss the mortgagee, upon
75	notice, shall render proof of loss in the form herein specified
76	within sixty (60) days thereafter and shall be subject to the pro-
77	visions hereof relating to appraisal and time of payment and of
78	bringing suit. If this company shall claim that no liability ex-
79	isted as to the mortgagor or owner, it shall, to the extent of the
pay-
80	ment of loss to the mortgagee, be subrogated to all the mort-
81	gagee's rights of recovery, but without impairing the mort-
	gagee's
82	right to sue; or it may pay off the mortgage debt and require
83	an assignment thereof and of the mortgage. Other provisions
84	relating to the interests and obligations of the mortgagee may
85	be added hereto by agreement in writing.
86	Pro rata liability. This company shall not be liable for a
87		greater proportion of any loss than the
88	amount hereby insured shall bear to the whole insurance cover-
89	ing the property against the peril involved, whether collectible
	or not.
90	Requirements in The insured shall give immediate written
91	case loss occurs. notice to this company of any loss, protect
92		the property from further damage, forth with
93	separate the damaged and undamaged personal property, put
94	it in the best possible order, furnish a complete inventory of
95	the destroyed, damaged, and undamaged property, showing in
96	detail quantities, costs, actual cash value and amount of loss
97	claimed; and within sixty (60) days after the loss, unless such
98	time is extended in writing by this company, the insured shall
99	render to this company a proof of loss, signed and sworn to by
100	the insured, stating the knowledge and belief of the insured as to
101	the following: the time and origin of the loss, the interest of the
102	insured and of all others in the property, the actual cash value of
103	each item thereof and the amount of loss thereto, all encum-
104	brances thereon, all other contracts of insurance, whether valid
105	or not, covering any of the property, any changes in the title,
106	use, occupation, location, possession, or exposures of the prop-
107	erty since the issuing of this policy, and by whom and for what
108	purpose any building herein described and the several parts
109	thereof were occupied at the time of loss and whether or not it
110	then stood on leased ground, and shall furnish a copy of all the
111	descriptions and schedules in all policies and, if required, veri-
112	fied plans and specifications of any building, fixtures, or
	machin-
113	ery destroyed or damaged. The insured, as often as may be
114	reasonably required, shall exhibit to any person designated by
115	this company all that remains of any property herein described,
116	and submit to examinations under oath by any person named by
117	this company, and subscribe the same; and, as often as may be
118	reasonably required, shall produce for examination all books of
119	account, bills, invoices, and other vouchers, or certified copies
120	thereof if the originals are lost, at such reasonable time and
	place as
121	may be designated by this company or its representative, and
122	shall permit extracts and copies thereof to be made.
123	Appraisal.	In case the insured and this company shall
124		fail to agree as to the actual cash value or
125	the amount of loss, then, on the written demand of either, each
126	shall select a competent and disinterested appraiser and notify
127	the other of the appraiser selected within twenty (20) days of
128	that demand. The appraisers shall first select a competent and
129	disinterested umpire; and failing for fifteen (15) days to agree
130	upon the umpire, then, on request of the insured or this com-
131	pany, the umpire shall be selected by a judge of a court of
132	record in the state in which the property covered is located. The
133	appraisers shall then appraise the loss, stating separately ac-
	tual
134	cash value and loss to each item; and, failing to agree, shall
135	submit their differences, only, to the umpire. An award in writ-
136	ing, so itemized, of any two (2) when filed with this company
	shall
137	determine the amount of actual cash value and loss. Each
138	appraiser shall be paid by the party selecting him or her and
139	the expenses of appraisal and the umpire shall be paid by
140	the parties equally.
141	Company's	It shall be optional with this company to
142	options.	take all, or any part, of the property at the
143		agreed or appraised value, and also to re-
144	pair, rebuild, or replace the property destroyed or damaged with
145	another of like kind and quality within a reasonable time, on
146	giving notice of its intention so to do within thirty (30) days
147	after the receipt of the proof of the loss herein required.
148	Abandonment. There can be no abandonment to this com-
149		pany of any property.
150	When loss	The amount of loss for which this company
151	payable	may be liable shall be payable sixty (60)
152		days after proof of loss, as herein provided,
153	is received by this company and ascertainment of the loss is
154	made either by agreement between the insured and this com-
155	pany expressed in writing or by the filing with this company
156	of an award as herein provided.
157	Suit.	No suit or action on this policy for the recov-
158		ery of any claim shall be sustainable in any
159	court of law or equity unless all the requirements of this policy
160	shall have been complied with, and unless commenced within
161	twenty-four (24) months next after inception of the loss.
162	Subrogation. This company may require from the insured
163		an assignment of all rights of recovery.
164	against any party for loss to the extent that payment therefor
165	is made by this company.

Standard Fire Insurance Policy of the State of
Expires .........................................
Property .........................................
Assured .........................................
No. .......................................
(COMPANY)

It is important that the written portions of all

policies covering the same property read exactly

alike. If they do not, they should be made uniform

at once.

Legislative History

G.L. 1896, ch. 183, § 5; G.L. 1909, ch. 222, § 5; G.L. 1923, ch. 258, § 5; P.L. 1929, ch. 1359, § 2; P.L. 1938, ch. 2631, § 1; G.L. 1938, ch. 154, §§ 1, 2; P.L. 1945, ch. 1623, § 1; G.L. 1956, § 27-5-3; P.L. 1978, ch. 331, § 1; P.L. 1979, ch. 47, § 1; P.L. 1994, ch. 53, § 1; P.L. 2004, ch. 138, § 1; P.L. 2004, ch. 140, § 1.