1. Changing Your Policy.
Any change to this policy must be made by endorsement issued by us. We will adjust the premium if necessary. If we broaden the coverage in our umbrella liability program without increasing the premium, we will also apply the broadened coverage to your policy. The broadened coverage will apply only to loss that occurs after the date the coverage is added.
The premium for this policy is a flat charge determined in advance and is based on the exposures declared in the application. Changes which occur after the inception of the policy, in driving records or the number of drivers, autos, recreational vehicles, watercraft or residential premises covered by the policy, will not affect the premium.
3. Cancelling Your Policy.
We can cancel this policy by giving you not less than 30 days’ advance written notice that states when the policy coverage will end. If we cancel for non-payment of premium or your material misrepresentation of facts in obtaining this policy or in presenting a claim, we will give you 10 days’ advance written notice that states when the policy coverage will end. We will give you our reason for cancelling your policy at the same time we send you notice of cancellation.
i. You can cancel this policy at any time by returning it to us or your agent or broker telling us, in writing, at what future time you want coverage to end.
ii. If we cancel this policy, we will compute unearned premium due you as soon as possible following cancellation of your policy. If you cancel this policy, we will compute unearned premium at 90% of pro-rata and return any premium due you as soon as possible following cancellation of your policy. If the result of computing unearned premium shows that you owe us unpaid premium, you agree to pay us as soon as you receive our bill for premium due.
4. Non-Renewal of Your Policy.
We may choose not to renew your policy for another year. We will give you not less than 60 days’ advance written notice before your policy coverage is due to end. We will give you our reason for non-renewal of your policy at the same time we send you our notice of non-renewal.
5. Expense Fee.
Regardless of whether you or we cancel the policy, if one or more days of coverage is provided, the expense fee is fully earned and will not be refunded.
6. Transferring Your Policy.
You agree not to transfer or assign any of your rights under this policy without our written approval.
7. Bankruptcy, Insolvency or Death.
This policy’s coverage is not affected by your bankruptcy or insolvency. If you die or are declared bankrupt or insolvent, your estate and your legal representatives will be covered until the end of the policy period.
If a covered person or any insurer providing primary insurance elects not to appeal a judgment which exceeds the retained limit, we may do so at our own expense. We will pay all costs, taxes, expenses and interest related to our appeal. The amounts we pay will be in addition to our limit of liability.
9. Legal Action Against Us.
No covered person may bring legal action against us concerning this policy unless such covered person has fully complied with all of its terms and conditions. No legal action may be brought against us until judgment against such covered person has been finally determined after trial or by agreement between the claimant or the claimant’s legal representative and us. This policy does not give anyone the right to make us a party to any action to determine the liability of a covered person. We are not liable for damages that are not payable under this policy or that are in excess of the applicable limits of insurance.
10. Our Right to Recover from Others.
After we have made payment under this policy, we have the right to recover the payment from anyone, other than you, who may be held responsible for the loss. A covered person will be required to sign any papers and do whatever else is necessary to transfer this right to us. Neither you nor anyone else we insure in this policy has the right to do anything after a loss to prejudice our right.
11. Sole Agent.
The Named Insured first shown on the Declarations Page is authorized to act on behalf of all covered persons with respect to giving notice of cancellation or non-renewal, receiving refunds and agreeing to any changes in this policy.
12. Other Insurance.
If other insurance applies to a loss covered by this policy, the insurance under this policy is excess and we will not make any payments until such other insurance is used up. This condition does not apply if the other insurance is specifically written to be excess over this policy.
By accepting this policy, you agree that the statements in the Declarations Page and Umbrella Schedule are accurate and complete, those statements are based upon representations you made to us through your broker whose name appears on our Declarations Page, and we have issued this policy in reliance upon your representations. This policy is void in any case of material misrepresentation by you as it relates to this policy or any claim under this policy.
We do not provide coverage for any covered person who has made fraudulent statements or engaged in fraudulent conduct in connection with any loss for which coverage is sought under this policy.