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Property-Perils

Is an outdoor hot tub Coverage A, B or C under a homeowners policy? If damaged by a covered peril, is recovery on a replacement cost or an ACV basis? If the cause of loss is freezing of a water line or equipment, is that covered or is it excluded because of the insured’s failure to maintain heat or shut off and drain the system?
An HO customer’s hot tub is damaged by the freezing of a water line. Does the ISO HO-3 cover this cause of loss? What if the root cause is mechanical breakdown? Is it open perils or named perils? Is valuation based on replacement cost or ACV? This article answers these and other coverage questions.
Homes and the personal property within them are the frequent victims of sewer backup that originates on or off the residence premises. The question is, to what extent, if any, are these losses covered or excluded by the ISO HO program and its various coverage forms and endorsements? These questions are answered in this definitive article from VU faculty member, David Surles, CPCU, RPLU, AAI.
If asked to give examples of claims that would likely be covered by an open perils property policy but not by a named perils policy, could you? We’ve compiled a short list of generic examples, some slightly tongue-in-cheek, that you can adapt to the forms you sell when asked for an example or two. As cautioned in the article, be careful how you use these.
We receive a lot of questions about whether or not a homeowners policy covers damage from the overflow of toilets, sinks, and washers. This issue has been debated for years and involves balancing the covered peril of accidental discharge from a plumbing system with the exclusion for the backing up of sewers or drains. In this article, we'll examine those issues and give you our (and other) expert opinions about coverage.
Your insured's lawn sprinkler system develops an underground leak which floods the basement. Or their forgetful teenage son leaves a garden hose running and overnight water accumulates, runs into a basement window and floods a large area. Are these claims excluded by the HO surface and underground water exclusionary language?
Last year's swath of hurricanes brought numerous claims involving damage to boat docks and piers, along with numerous claim denials. Weather-related claims to boat docks are common elsewhere in the country. While most policies cover windstorm damage, why are these claims often denied? For the answer to this question, and an often overlooked reason why coverage isn't triggered at all, keep reading....
It was widely publicized during the 2006 Christmas season that there were incidents of controllers of the new Nintendo Wii gaming console being accidentally thrown through TV screens or otherwise breaking fragile objects. When this happens, is it covered by a homeowners policy?
A large waterbed leak resulted in alleged damage to clothing, furniture and carpeting. The adjuster denied coverage to Coverage C property on the basis that there is no named peril for this loss. One named peril, though, applies to accidental discharge or overflow of plumbing systems and domestic appliances. Is a waterbed a 'domestic appliance'?
How can you possibly know which endorsement to write 100% of the time? Risk, my fellow agents, is the uncertainty of loss. If we knew 100% of the time which would cause the loss, the element of uncertainty would be eliminated and your client would not be able to purchase insurance. What can you do to protect yourself?.
Here's a composite of THREE questions received by our 'Ask an Expert' service in the past month: 'Is there any coverage under the HO3 for a piece of furniture/washer/television (or any other personal property) that an insured is hauling in the back of a pickup and it gets damaged from falling out of the pickup?' In two of the three scenarios (washer and TV), the insurer denied the claim under the HO3.
While away, an insured’s waterbed in their upstairs master bedroom ruptured, causing extensive damage to the carpet and downstairs ceiling, sheetrock, and other property. Another insured’s hot tub developed a leak while on vacation and water entered the master bedroom, damaging hardwood flooring, carpet, and two imported oriental rugs. Are these two water damage claims treated the same way in the HO policy?
An insured sends brass bathroom fixtures to the manufacturer to be replated or replaced. They are lost by the manufacturer who refuses to replace them. Is this loss covered by the HO policy?
The insured sold her $29,000 ring...or so she thought. When she attempted to deposit the cashiers check, she learned that it was forged and the forger was long gone. When she reported the claim to her insurer, it was denied. The adjuster said this was voluntary parting, not theft. In this article we'll show you why we believe that's wrong and why, under the circumstances, it doesn't matter.
Most named perils property policies cover 'windstorm.' Note that this doesn't say 'wind,' but rather 'windSTORM.' So the question is, what constitutes a windstorm? This issue recently arose in an auto claim, but the peril is the same as that under homeowners and commercial property policies.
During a windstorm, a tree branch breaks off a tree and damages the roof, chimney, and interior walls of a house. The insurer claims the damage is caused by wind. The agent believes the damage is caused by the tree branch as a falling object. At stake is a large percentage windstorm deductible. Who's right?