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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.
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....
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.
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.
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Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

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