instant quotes
Your insurance policy contained a provision that limits the amount of loss for items of personal property that were used in your business. If you operate a home-based business, find out what limitations your insurance company puts on insuring property used in for business. Also find out if a business operation rider is available as optional coverage for your homeowner's or renter's policy.
Our pipes froze and burst while we were vacationing. Am I covered?
Coverage for those frozen pipes is provided under broad form (HO-2) and special form (HO-3) policies. (Still, you may need to prove that you properly drained all plumbing lines and that maintained a proper level of heat to the dwelling.) There is no coverage, however, under the basic form (HO-1). (These types of policy forms are discussed later.)
Are the personal belongings that we take when traveling covered?
Yes, your home and renter's insurance policy will provide you protection. If you are traveling with costly jewelry, valuable photographic equipment, pricey art, or other items of high value, you should consider the purchase of extra insurance in the form of a rider to extend coverage for these items.
Airlines are subject to legislation that allows them to limit their liability for loss. This type of loss is covered under most insurance policies. As with other categories of personal property, however, there may be limits on the amount of coverage.
We own a camp used primarily during the summer. Can it be covered under our home policy?
Under most insurance policies, operation of a business is excluded. If you own a summer camp, you should purchase a special multi-peril insurance policy designed specifically for that kind of business operation.
Homeowners are responsible for injury or damage to third parties that is caused by their ownership of property. In this example, your neighbor is responsible for the loss that you suffered as a result of his tree falling on and damaging your property. The same would be true your uphill neighbor's land ended up in your backyard as a result of a mudslide.
A tree fell on my roof during a major storm. Am I covered? Is the tree's removal covered?
Under most insurance policies, the loss of the tree, the damage caused as a result of the felled tree, and the cost of removal of the tree are covered under your homeowner's insurance. You should check to see if your particular insurance policy limits losses for trees and shrubbery. If you have large trees or extensive shrubbery around your house, consider the purchase of a rider to extend coverage for these additional exposures.
The answer depends on why the power to your home was cut. If it was as the result of a coverage occurrence (such as windstorm), coverage under the insurance policy applies. If the power was cut as the result of power grid failure, you're out of luck--coverage does not apply.
Does my coverage protect me from claims when I am on vacation?
Your homeowner's or renter's insurance protects you against loss of personal property as a result of theft as well as third-party liability insurance whether at home or on the road.
Also, if you are on vacation, your home and its contents remain covered (although it is a good idea to have someone periodically check in on your home while you are away).
Most home and renter insurance policies provide coverage for theft of credit cards; however, the amount of coverage is limited. You should note that once you have reported the loss or theft of your credit card, you are responsible for only $50 of unauthorized use.
What is a personal "umbrella" insurance policy?
While sometimes offered as a rider, an umbrella insurance policy is often sold as a stand-alone policy. Most insurers who offer this coverage require increased liability limits under existing homeowner's or renter's and automobile insurance policies before offering this coverage.
Continue reading "What is a personal "umbrella" insurance policy?" »
What options or "riders" are available?
In addition to the standard coverages provided by most insurance policies, there are options or "riders" which can be added to the policy. A "rider" is an additional set of terms and conditions that "rides on" the basic package offered by the insurance company. Below is a sampling of some of the most common riders that can be added to or purchased along with an insurance policy.
Continue reading "What options or "riders" are available?" »
What do medical payments cover?
Medical payments -- often up to $1,000 -- pay the medical bills for people accidentally hurt in your home. It also pays for people hurt away from your home by you, your household members, or by your pets. Often, this coverage is provided no matter who is at fault for the injury. It is intended to cover the costs of minor injuries without the need for a third party to sue for reimbursement.
Continue reading "What do medical payments cover?" »
"Additional living expense" coverage (also called "loss-of-use") is one of the most important features in a standard policy. This coverage picks up the tab for your hotel costs, restaurant bills, and other additional living expenses when your home is too damaged to live in during repairs. Don't plan on checking into the Ritz and dining at The Four Seasons, though; chances are that your policy will only pay the difference between your normal living expenses and any additional costs. The limit of coverage varies by company. It may be based on a percentage of total coverage or limited by a specified length of time.
Are intentional injuries covered by my personal liability coverage?
No. Your personal liability coverage is not applicable if you intentionally injure someone or intentionally damage someone else's property.
Why would I want personal liability coverage? What does it cover?
Accidents happen...and there are plenty of attorneys who specialize in recovering for victims whenever they do. Litigation has become a fact of life. Anyone with assets must take steps to protect what has taken so long to acquire. For most people, the front line in the war to protect assets is home or rent insurance.
Continue reading "Why would I want personal liability coverage? What does it cover?" »
Some of my personal items were stolen from my hotel room. Would they be covered under my policy?
Maybe. Most folks don't know that their contents coverage usually includes loss or damage to personal property, regardless of where it was at the time of the loss. You may then be covered under your homeowner's or renter's insurance in the event of theft of personal property while staying at a hotel. Such coverage is typically as much as 10% of the dwelling policy limit.
Yes, but most home policies place specific dollar limits on coverages for cash, securities, coin collections, jewelry, furs, guns, silverware, antiques, and art. Make certain you check your policy to determine if there are special limitations for certain kinds of personal property. Check what the categories are, and the special limit for each category. If your personal property falls into a listed, limited coverage category and is worth more, you can increase coverage by adding a "rider" to the policy. Insurance policy riders are available at nominal cost.
Does the personal property coverage include my dog rover or my parakeet tweety?
No, the damage Rover and Tweety do to your personal belongings is your responsibility (or theirs, if you can talk them into it). Your homeowner's policy will usually cover the damage Rover does to other people, however. But if Rover is, say, a pit bull, you should check your policy. Some insurers exclude coverage for potentially dangerous breeds.
What does personal property (contents) damage cover?
Contents (personal property) coverage is a typical component of all homeowner's and renter's insurance policies. Personal property refers to all tangible goods commonly found inside your residence and owned by you or family members who live with you. Examples of personal property include your clothes, furniture, furnishings, and appliances. Coverage for automobiles, aircraft, and other vehicles is typically excluded.
Continue reading "What does personal property (contents) damage cover?" »
Some insurance policies also provide additional property damage coverage when a loss occurs as the result of a covered peril. Covered items include:
Continue reading "Additional property coverage" »
What does property damage cover?
The property damage portion of a homeowner's policy covers loss or damage to the home and other structures on the property. In the event of a total loss, the amount paid depends upon the dwelling policy limit of the insurance contract as well as the type of coverage provided under the contract.
Your insurance policy contained a provision that limits the amount of loss for items of personal property that were used in your business. If you operate a home-based business, find out what limitations your insurance company puts on insuring property used in for business. Also find out if a business operation rider is available as optional coverage for your homeowner's or renter's policy.
Our pipes froze and burst while we were vacationing. Am I covered?
Coverage for those frozen pipes is provided under broad form (HO-2) and special form (HO-3) policies. (Still, you may need to prove that you properly drained all plumbing lines and that maintained a proper level of heat to the dwelling.) There is no coverage, however, under the basic form (HO-1). (These types of policy forms are discussed later.)