What is the maximum amount an insured can collect for debris removal under the HO 00 03?

Under the HO 00 03 homeowners policy, the insured can collect a maximum of 5% of the dwelling amount for debris removal. This provision is designed to help homeowners manage the additional costs incurred after a covered loss, particularly in the aftermath of events such as a fire or storm, where debris removal is necessary to restore the property.

The 5% limit ensures that while applicants receive assistance for cleanup efforts, there is also a cap to manage the insurer's exposure. This coverage is in addition to the policy’s dwelling coverage limit, meaning it provides financial help specifically designated for eliminating debris from damaged properties. Understanding this limit is crucial for policyholders to adequately plan for potential additional expenses following property damage.