When it comes to accurately scheduling your property values for insurance, it’s important to classify items correctly. What you may picture as a building or structure may not line up with your policy language. Additionally, some may not be insurable. Below, we outline common characteristics of a building/structure as well as items which are typically classified as insurable PITO.
General building/structure characteristics
Generally speaking, if a piece of property has at least two of the following, it is probably a building:
- Structural walls and roof covering
- Slab
- Building services (electric, HVAC, plumbing)
- Some form of foundation
- Some form of human occupancy (even temporary)
- Material value
Items typically classified as insurable PITO:
Next, unless they are physically attached to a structure, these are typically classified as insurable PITO:
- Fencing and gates (all materials), including backstops and fenced dugouts
- Guardrails and bollards
- Small, portable storage units
- Retaining walls
- Signage
- Airport improvements (beacons, approach lights, etc.)
- Small piers, including floating, and boardwalks
- Yard lighting
- Ballfield lighting
- Scoreboards
- Playground structures and equipment
- Movable seating and bleachers
- Goals (football, soccer, etc.)
- Flagpoles
- Warning sirens (pole-mounted)
- Small radio towers (less than 100’)
- Fuel tanks (above and below ground) and pumps
- Synthetic athletic fields and surfaces (football/soccer, baseball, tennis, etc.)
- Synthetic track surfaces
- Pedestrian bridges (park and trail)
- Outdoor hockey rink racer boards and fencing
- Minor equipment/improvements such as bike racks, BBQ sets, picnic tables, refuse containers, water fountains; batting cages
- Items located throughout jurisdictional limits and grouped together: street lighting; hydrants; meters; transformers (pole-mtd); electric distribution line/poles (above ground); traffic control signals, walk signs; bus shelters
Note: If any of the above are physically attached to a building, the value should be added to that
building.
PITO items typically considered not insurable:
Some PITO items that are not usually insurable:
- Infrastructure, c/o roadways/streets; sewer collection lines and interceptors; stormwater collection systems and retention basins; water distribution piping; in-ground gas and/or electric distribution systems
- Concrete paving and driveways
- Asphalt paving
- Curbs and gutters
- Landscaping
If you need help determining what to do with this information or next steps to take, that’s where we come in. We’d love to partner with you to ensure your property schedules have the most accurate data possible.
Reach out to us here and we’ll get started.