ACORD 60 LA (4/98) – Louisiana Dwelling Supplement – Loss Settlement – For Use With DWG 1
Louisiana law provides that, in cases of total loss to “inanimate, immovable property”, the limit of insurance used to determine the premium charge will be the amount used by the insurance company to calculate the loss payment, without any “deduction or offset, unless a different method is used in the computation of loss”. If a different method is used, both the
policy and the application for insurance must state the actual method of loss settlement.
The language in ACORD 60 LA is the language recommended by theProperty Insurance Association of Louisiana for use with applications for Dwelling 1 coverage. Use ACORD 60 LA with Dwelling Fire Application, ACORD 84.
Note this form is now mandatory when submitting applications for this type of coverage to either the Louisiana Joint Reinsurance Plan or the Louisiana Insurance Underwriting Plan.