Personal Lines

Vacant land presents two problems. First, most people find it hard to believe that they could be sued because they own a piece of vacant land. Second, the characteristics that…

The definition of “insured location” in the HO policy includes any premises “used in connection with” the residence premises. Exactly what does that mean?

Can a condo association assessment for a deductible be paid by the HO policy without the entire association being assessed? An agent reports that one company will not pay unless…

It’s very unlikely that many purchasers of a townhome or a stand-alone home in an association ever consider the insurance implications of such purchases. Only when it’s time for the…

After a fire damaged an insured’s home, the HO adjuster offered to pay only part of the repair bill, stating that he was taking depreciation off the total. The agent…

Our “Ask an Expert” service got a question this week from an agent who represents an insurer who has begun using a Functional Replacement Cost Loss Settlement endorsement on older…

A critical element in the principle of indemnity is that an insured can only collect for a loss in an amount equal to his or her insurable interest in the…

According to the experts, a majority of homes are undervalued by at least 25% on average. Magazines and newspapers are replete with articles about insureds who suffered major losses only…

A 17-store chain of restaurants were shut down recently by Hurricane Charley. Direct property damage was actually minor at all locations; however, an area-wide power outage resulted in several of…

If the volume of “Ask an Expert” questions we get is any indication, the “wear and tear” exclusion in auto and property policies–both personal and commercial lines–is one of the…