What Does Standard Fire Policy Jurisdictions Mean?

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What does Standard Fire Policy Jurisdictions mean? Read on to discover the definition & meaning of the term Standard Fire Policy Jurisdictions - to help you better understand the language used in insurance policies.

Standard Fire Policy Jurisdictions

Standard Fire Policy Jurisdictions

Jurisdictions that have laws requiring that all property policies provide coverage that is at least equivalent to that provided by a standard fire policy. Some SFP states also impose this requirement on commercial inland marine (CIM) policies, whereas other SFP states do not. Therefore, the SFP states are divided into two groups: SFP states that exempt commercial inland marine coverage from the SFP equivalency requirement and SFP states without a commercial inland marine exemption.

We hope the you have a better understanding of the meaning of Standard Fire Policy Jurisdictions.

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