Trusts: Watch Out – Lawyers Strike Again
Trusts are often used as a means to avoid some of the issues related to probate and estate taxes. However, the lawyers rarely tell insureds that when a trust is…
Personal Lines
Why Defining Actual Cash Value is Amazingly Difficult
The concept of actual cash value (ACV) is far more complicated than “replacement cost minus physical depreciation.” In fact, the meaning of replacement cost differs based on the state. To…
Trailer-Related Liability Chart
Here’s your one-stop-shop for Liability Coverage for Trailer-Related Liability: Primary and Excess Protection.
Loss Assessment Coverage
Individuals who live in or own homes in a home association face increased financial risks from assessments. Personal lines policies cover some of the assessments, but increased limits of loss…
Understanding ISO’s New ‘Your Belongings’ Form Designed for Millennials
Insurance Services Office (ISO), based on a 2016 survey of millennials, recently introduced the PM 00 43 – Your Belongings Form to allow insureds without a perceived need for a…
Homeowners’ Insurance and Firearms
Once again, we find ourselves in the deeply political and emotional debate about guns, the second amendment, gun control, and safety. This discussion requires us to clear up some misconceptions…
Riding Mowers, Golf Carts, and Four-Wheelers: The Power of One Word
ISO has changed the wording related to lawn mowers, golf carts and four-wheelers three times over the last several years. These changes, as you would expect, change the coverage provided.…
Is There Trouble When Using Yelp (and ALL Other Social Media)?
When your insureds use Yelp, Twitter or even Facebook they open themselves up to charges of libel and defamation of character. Is your personal lines client protected? A Yelper is…
A Brief Synopsis of ISO’s Last Major PAP Changes
ISO has introduced a major change to its Personal Auto program; the largest change in many years. As part of this change key provisions of the “base” PAP (PP 00…
Rental Cars and Insurance: I Was Wrong (Sort of)
When your insured rents a car is the coverage provided by his/her personal auto policy primary or excess? The reality is, there is no one answer. The answer is a…
