{"data":{"id":"us-ri/r.i.-gen.-laws-27-5-3","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 27-5-3","heading":"Form of standard policy.","body":"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:\nNo\nSpace for insertion of name of company or companies issuing the policy and other matter permitted to be stated at the head of the policy.\nSpace 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.\nIn consideration of the provisions and stipulations herein or added hereto and of ............... dollars premium this company, for the term of .............\nfrom 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.\nAssignment of this policy shall not be valid except with the written consent of this company.\nThis 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.\nIN WITNESS WHEREOF, this company has executed and attested these presents;\nat .........................................\n....................................... ....................................... Secretary President\nIn 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 § 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 .........................................\n....................................... ....................................... Secretary President\nCountersigned this ..... day of .......... 20 ....\n\t\t.......................................\n\t\tAgent\n1\tConcealment,\tThis entire policy shall be void if, whether\n2\tfraud.\tbefore or after a loss, the insured will-\n3\t\tfully concealed or misrepresented any material\n4\tfact or circumstance concerning this insurance or the subject\n5\tthereof, or the interest of the insured therein, or in the case of\n6\tany fraud or false swearing by the insured relating thereto.\n7\tUninsurable\tThis policy shall not cover accounts, bills,\n8\tand excepted\tcurrency, deeds, evidences of debt, money, or\n9\tproperty.\tsecurities; nor, unless specifically named here-\n10\t\ton in writing, bullion or manuscripts.\n11\tPerils not\tThis company shall not be liable for loss by\n12\tincluded.\tfire or other perils insured against in this\n13\t\tpolicy caused, directly or indirectly, by: (a)\n14\tenemy attack by armed forces, including action taken by mili-\n15\ttary, naval, or air forces in resisting an actual or an immedi-\n\tately\n16\timpending enemy attack; (b) invasion; (c) insurrection; (d)\n17\trebellion; (e) revolution; (f) civil war; (g) usurped power; (h)\n18\torder of any civil authority except acts of destruction at the time\n19\tof and for the purpose of preventing the spread of fire, provided\n20\tthat this fire did not originate from any of the perils excluded\n21\tby this policy; (i) neglect of the insured to use all reasonable\n22\tmeans to save and preserve the property at and after a loss, or\n23\twhen the property is endangered by fire in neighboring prem-\n24\tises; (j) loss by theft.\n25\tOther Insurance. Other insurance may be prohibited or the\n26\t\tamount of insurance may be limited by an\n27\tendorsement attached hereto.\n28\tConditions suspending or restricting insurance. Unless\n29\totherwise provided in writing and added hereto this company\n\tor companies shall not\n30\tbe liable for loss occurring:\n31\t(a) While the hazard is increased by any means within the con-\n32\ttrol or knowledge of the insured; or\n33\t(b) While a described building, whether intended for occupancy\n34\tby owner or tenant, is vacant or unoccupied beyond a period\n\tof\n35\tsixty (60) consecutive days or\n35A\tthirty (30) consecutive days subsequent to the date on which an\n35B\torder is issued by the local building inspector pursuant to\n\t§ 23-27.3-124.2,\n35C\twhichever first occurs; or\n36\t(c) As a result of explosion or riot, unless fire ensues, and in\n37\tthat event for loss by fire only.\n38\tOther perils Any other peril to be insured against or sub-\n39\tor subjects.\tject of insurance to be covered in this policy\n40\t\tshall be by endorsement in writing hereon or\n41\tadded hereto.\n42\tAdded provisions. The extent of the application of insurance\n43\t\tunder this policy and of the contribution to\n44\tbe made by this company in case of loss, and any other pro-\n45\tvision or agreement not inconsistent with the provisions of this\n46\tpolicy, may be provided for in writing and added hereto, but no\n47\tprovision may be waived except such as by the terms of this\n48\tpolicy is subject to change.\n49\tWaiver\tNo permission affecting this insurance shall\n50\tprovisions.\texist, or waiver of any provision is valid,\n51\t\tunless granted herein or expressed in writing\n52\tand added hereto. No provision, stipulation, or forfeiture shall\n53\tbe held to be waived by any requirement or proceeding on the\n54\tpart of this company relating to appraisal or to any examina-\n55\ttion provided for herein.\n56\tCancellation This policy shall be cancelled at any time\n57\tof policy.\tat the request of the insured, in which case\n58\t\tthis company shall, upon demand and sur-\n59\trender of this policy, refund the excess of the paid premium\n\tabove\n60\tthe customary short rates for the expired time. This pol-\n61\ticy may be cancelled at any time by this company by giving\n62\tto the insured a thirty (30) days’ written notice of cancellation\nexcept that when cancellation is for nonpayment of premium, a ten (10)\ndays’ written notice shall be required with\n63\tor without tender of the excess of the paid premium above the\n\tpro\n64\trata premium for the expired time.\n65\tNotice of cancellation shall\n66\tstate that the excess premium (if not tendered) will be promptly\n67\tre-funded.\n68\tMortgagee\tIf loss hereunder is made payable, in whole\n69\tinterests and or in part, to a designated mortgagee not\n70\tobligations.\tnamed herein as the insured, that interest in\n71\t\tthis policy may be cancelled by giving to that\n72\t\tmortgagee a ten (10) days’ written notice of\n73\tcancellation.\n74\tIf the insured fails to render proof of loss the mortgagee, upon\n75\tnotice, shall render proof of loss in the form herein specified\n76\twithin sixty (60) days thereafter and shall be subject to the pro-\n77\tvisions hereof relating to appraisal and time of payment and of\n78\tbringing suit. If this company shall claim that no liability ex-\n79\tisted as to the mortgagor or owner, it shall, to the extent of the\npay-\n80\tment of loss to the mortgagee, be subrogated to all the mort-\n81\tgagee’s rights of recovery, but without impairing the mort-\n\tgagee’s\n82\tright to sue; or it may pay off the mortgage debt and require\n83\tan assignment thereof and of the mortgage. Other provisions\n84\trelating to the interests and obligations of the mortgagee may\n85\tbe added hereto by agreement in writing.\n86\tPro rata liability. This company shall not be liable for a\n87\t\tgreater proportion of any loss than the\n88\tamount hereby insured shall bear to the whole insurance cover-\n89\ting the property against the peril involved, whether collectible\n\tor not.\n90\tRequirements in The insured shall give immediate written\n91\tcase loss occurs. notice to this company of any loss, protect\n92\t\tthe property from further damage, forth with\n93\tseparate the damaged and undamaged personal property, put\n94\tit in the best possible order, furnish a complete inventory of\n95\tthe destroyed, damaged, and undamaged property, showing in\n96\tdetail quantities, costs, actual cash value and amount of loss\n97\tclaimed; and within sixty (60) days after the loss, unless such\n98\ttime is extended in writing by this company, the insured shall\n99\trender to this company a proof of loss, signed and sworn to by\n100\tthe insured, stating the knowledge and belief of the insured as to\n101\tthe following: the time and origin of the loss, the interest of the\n102\tinsured and of all others in the property, the actual cash value of\n103\teach item thereof and the amount of loss thereto, all encum-\n104\tbrances thereon, all other contracts of insurance, whether valid\n105\tor not, covering any of the property, any changes in the title,\n106\tuse, occupation, location, possession, or exposures of the prop-\n107\terty since the issuing of this policy, and by whom and for what\n108\tpurpose any building herein described and the several parts\n109\tthereof were occupied at the time of loss and whether or not it\n110\tthen stood on leased ground, and shall furnish a copy of all the\n111\tdescriptions and schedules in all policies and, if required, veri-\n112\tfied plans and specifications of any building, fixtures, or\n\tmachin-\n113\tery destroyed or damaged. The insured, as often as may be\n114\treasonably required, shall exhibit to any person designated by\n115\tthis company all that remains of any property herein described,\n116\tand submit to examinations under oath by any person named by\n117\tthis company, and subscribe the same; and, as often as may be\n118\treasonably required, shall produce for examination all books of\n119\taccount, bills, invoices, and other vouchers, or certified copies\n120\tthereof if the originals are lost, at such reasonable time and\n\tplace as\n121\tmay be designated by this company or its representative, and\n122\tshall permit extracts and copies thereof to be made.\n123\tAppraisal.\tIn case the insured and this company shall\n124\t\tfail to agree as to the actual cash value or\n125\tthe amount of loss, then, on the written demand of either, each\n126\tshall select a competent and disinterested appraiser and notify\n127\tthe other of the appraiser selected within twenty (20) days of\n128\tthat demand. The appraisers shall first select a competent and\n129\tdisinterested umpire; and failing for fifteen (15) days to agree\n130\tupon the umpire, then, on request of the insured or this com-\n131\tpany, the umpire shall be selected by a judge of a court of\n132\trecord in the state in which the property covered is located. The\n133\tappraisers shall then appraise the loss, stating separately ac-\n\ttual\n134\tcash value and loss to each item; and, failing to agree, shall\n135\tsubmit their differences, only, to the umpire. An award in writ-\n136\ting, so itemized, of any two (2) when filed with this company\n\tshall\n137\tdetermine the amount of actual cash value and loss. Each\n138\tappraiser shall be paid by the party selecting him or her and\n139\tthe expenses of appraisal and the umpire shall be paid by\n140\tthe parties equally.\n141\tCompany’s\tIt shall be optional with this company to\n142\toptions.\ttake all, or any part, of the property at the\n143\t\tagreed or appraised value, and also to re-\n144\tpair, rebuild, or replace the property destroyed or damaged with\n145\tanother of like kind and quality within a reasonable time, on\n146\tgiving notice of its intention so to do within thirty (30) days\n147\tafter the receipt of the proof of the loss herein required.\n148\tAbandonment. There can be no abandonment to this com-\n149\t\tpany of any property.\n150\tWhen loss\tThe amount of loss for which this company\n151\tpayable\tmay be liable shall be payable sixty (60)\n152\t\tdays after proof of loss, as herein provided,\n153\tis received by this company and ascertainment of the loss is\n154\tmade either by agreement between the insured and this com-\n155\tpany expressed in writing or by the filing with this company\n156\tof an award as herein provided.\n157\tSuit.\tNo suit or action on this policy for the recov-\n158\t\tery of any claim shall be sustainable in any\n159\tcourt of law or equity unless all the requirements of this policy\n160\tshall have been complied with, and unless commenced within\n161\ttwenty-four (24) months next after inception of the loss.\n162\tSubrogation. This company may require from the insured\n163\t\tan assignment of all rights of recovery.\n164\tagainst any party for loss to the extent that payment therefor\n165\tis made by this company.\nIt is important that the written portions of all\npolicies covering the same property read exactly\nalike. If they do not, they should be made uniform\nat once.","path":["Title 27 Insurance","Chapter 5 Fire Insurance Policies and Reserves"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE27/27-5/27-5-3.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:57:23Z","sha256":"13848e140f683aa3aa1bd5d9fc711a69657c2d882054be0a78f50581b4c1fd5b","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-27-5-2.1","next":"us-ri/r.i.-gen.-laws-27-5-3.1"},"notice":"GroundRules: Original legal text. Not legal advice."}