Townhouses: HO-3 or HO-6?
An often asked question is, “Which is more appropriate when writing a townhouse within a homeowners’ association that purportedly provides the real property coverage for the entire building?” This is…
Personal Lines
Back to Basics – How Many Different ‘Values’ Can Property Have?
Property can be assigned many “values” depending on the purpose of the valuation and who is valuing it. Some examples include: The amount for which the property could be sold;…
What to Tell Your Clients About Halloween and Trick-or-Treaters
Halloween pranks can cause injury or damage. Even if no pranks are pulled, a trick-or-treater could suffer injury on the insured’s premises. What should we tell our clients about Halloween…
Property Deductibles: Subtracted from the Limit or the Loss
A concept as common as the application of a “property deductible” is rarely taught or even considered, it is simply “understood.” The problem is we tend towards the belief that…
Replacement Cost and the 180-Day Limitation Myth
Carriers seem to believe that a property loss must be discovered within 180 days of the event causing the damage for the policy to respond on a replacement cost basis;…
Telematics: Big Brother in the Flesh
Usage-based-insurance, UBI or telematics is here, though not yet widespread. However, eventually carriers will find a way to make telematics part of every driver’s life. Are there any up or…
Meth Labs, Explosions, and Homeowners’ Insurance
A house exploded in Charlotte, NC. Rumors of a meth lab began to swirl leading to an analysis of the HO policy to answer the question, does the insurance carrier…
A Real-World Insurance Learning Laboratory
Although May is the National Wildfire Awareness month, June is the month that brings back memories for me of the two most catastrophic wildfires in Colorado’s history (based on insured…
3 Underutilized Homeowners’ Endorsements
In the “HO-2000 world,” ISO has promulgated over 145 homeowners’ endorsements. Some of these endorsements take protection away (we want to stay away from those), some apply to specific exposures…
5 Key PAP Eligibility Questions
When writing a PAP, the “risk” must meet specific eligibility guidelines. Five of these eligibility guidelines are discussed in this article.
