This endorsement is obviously subject to a limit of insurance, which would be purchased at a level commensurate with the risk involved. There is no reference to a premium charge, and it is open-ended as to the types of services that are covered. Obviously the term “reasonable” may prove troublesome in the execution of any claim.
Like Example 1, this endorsement also limits the amount of coverage for fees, but it calls for an additional premium The intentional exclusion of coverage for public adjuster’s fees prevents the insured from recovering a claim cost which may be required in a complex loss situation. to be paid. Ostensibly, it places no limits on whomay supply the services. The actual cost of the additional coverage as well as the limit of insurance are important factors to consider.
Several insurance companies use more complex endorsements to extend coverage for loss adjusting expenses. While the items in the formmay vary to some extent, the following example is representative of some of the more complex endorsements.
This endorsement provides broad coverage for loss adjustment expense, but limits the amount of insurance directly to 10 percent of the loss, however, not as an...