What is Total Insured Value (TIV)?

Dwelling (Coverage A), Other Structures (Coverage B), Personal Property (Coverage C), and Loss of Use (Coverage D) are limited to 200%, 100%, 150%, and 100% of the Replacement Cost Estimate (RCE), respectively. Dwelling coverage applies in Stated Value States only.

For new business policies in select states, the total insured value (TIV)1 is also capped at $6M. Total insured value equals the RCE (or Dwelling in Stated Value States) plus Other Structures, Personal Property, and Loss of Use.

In these states, you cannot add additional coverage to Dwelling, Other Structures, Personal Property, or Loss of Use on the Coverage tab in the Portal if a policy has already selected $6M in TIV.

For example, a quote in a Non-Stated Value State has an RCE of $2M, Other Structures of $200k, Personal Property of $1M, and Loss of Use of $1.8M. The total insured value for the quote is $6M, so the Portal will not allow Other Structures, Personal Property, or Loss of Use to be increased further. 

However, if Loss of Use were lowered to $1.5M, the additional $300k would become available to be added to Other Structures or Personal Property coverage.

The Portal will limit coverage for mid-term amendments in the same way so additional coverage over $6M cannot be selected.

Contact us via our webform or Live Chat if you need further assistance.

1All coverages are subject to Total Insured Value (TIV) limits. See Legal Disclosures for more details.

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