construction, occupancy, protection, and exposure (COPE)

COPE is an acronym that stands for the four property risk characteristics an underwriter reviews when evaluating a submission for property insurance: construction, occupancy, protection, and exposure.

Construction refers to the primary materials and approach used for the structure (e.g., frame, masonry, masonry veneer, superior construction, mixed—masonry/frame). Occupancy is how the building is being used for commercial property and whether it is owner-occupant or renter-occupied for homeowners and the number of families for which the building is designed. Protection refers to the level of fire protection for the property, such as the quality of the responding fire department, including whether it is paid or volunteer, adequacy of water pressure and water supply in the community, distance of the structure to the nearest fire station, quality of the fire hydrant, and the distance of the structure to the nearest hydrant). Exposure evaluates the risks of loss posed by neighboring property or the surrounding area, taking into consideration what is located near the property, such as an office building, a subdivision, or a fireworks factory).