Property · Insurance Term
Building and Personal Property Coverage Form (CP 00 10)
Definition
The Building and Personal Property Coverage Form (CP 00 10) is the standard ISO commercial property form that defines what counts as your building, your business personal property and others' property, and the main conditions for claims. It is paired with a causes of loss form that lists which perils are covered.
In Plain English
Many commercial property policies are built from standard parts. CP 00 10 defines the insured property: Building coverage, business personal property and personal property of others. It also adds additional coverages and extensions, such as debris removal and preservation of property, often with their own sublimits.
It contains key conditions: the coinsurance clause, the mortgageholder clause, the vacancy condition and loss settlement rules. Notably, the base form values losses at actual cash value unless replacement cost is chosen on the declarations.
CP 00 10 does not itself list the covered perils. That comes from a causes of loss form, most often the Causes of Loss – Special Form (CP 10 30). Insurers may use their own versions with different wording, so compare forms, not just limits.
Not sure how your policy handles this? Have us review it, or get a quote.
Example
Hypothetical: two quotes for an office building show the same $4,000,000 limit. One uses CP 00 10 with replacement cost and 90% coinsurance; the other uses an insurer's own form with actual cash value on roofs. The coverage is not the same, even though the limits match.
What to Watch For
- Check the forms list on your declarations to see which property form you have.
- Confirm replacement cost is selected if you want it.
- Note the coinsurance percentage and any agreed value option.
- Review the vacancy condition if any building is or may become empty.
Last updated October 14, 2026 · Primesure editorial team · How We Write