Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional...
Transcript of Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional...
![Page 1: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/1.jpg)
![Page 2: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/2.jpg)
Whatcha think….
Covered or not
Personal residential issues
1
with
Irene Morrill, CPCU, CIC, ARM, CRM, LIA, CPIW Vice President of Technical Affairs
Massachusetts Association of Insurance Agents
This program is designed to provide accurate and authoritative information in regard to the
subject matter covered. It is provided with the understanding that the publisher is not engaged in
rendering legal, accounting, or other professional service. If legal advice or other expert
assistance is required, the services of a competent professional person should be sought.
With special thanks to the Insurance Services Office, Inc. for advance information, continued
support, and permission to use their forms and information.
![Page 3: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/3.jpg)
A homeowner is having work done on her home for which
she is renting an excavator. A relative will be operating the
equipment on her behalf. Would her liability cover this
piece of equipment?
From what I can see, she would have coverage under
Section II Exclusions,
"this exclusion does not apply to:
" Part 4, A, a vehicle or conveyance not subject to motor
vehicle registration which is: used to service an
"insured's" residence.
Maintenance vehicles
![Page 4: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/4.jpg)
My client informed me that he has a utility trailer and
trailers his very expensive riding lawnmower over to his
aged mother’s house to mow her lawn.
If it falls out of the trailer and is damaged, is it covered?
If someone gets injured while he is mowing …is he
covered?
Maintenance vehicles
![Page 5: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/5.jpg)
Well … the answer for both questions …depends on which
edition of the ISO HO policy the client has.
If the company is not “ISO” then one needs to READ the
policy.
The ISO HO-91 is the most user friendly and the ISO HO-
2000 is the LEAST user friendly
Maintenance vehicles
![Page 6: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/6.jpg)
Coverage C covers personal property
anywhere in the world but … does not
cover
Motorized land conveyances UNLESS:
NOT subject to MVR
USED to service insured’s residence
DESIGNED to assist handicapped
Maintenance vehicles – HO-91
“eligibility issue” …if either
applies …EVER …then
ALWAYS covered
![Page 7: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/7.jpg)
Coverage E is universe wide …but
excludes
Motorized land conveyances UNLESS:
NOT subject to MVR
USED to service insured’s residence
DESIGNED to assist handicapped
Maintenance vehicles – HO-91
“eligibility issue” …if either
applies …EVER …then
ALWAYS covered
![Page 8: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/8.jpg)
Maintenance vehicles – HO-2000
Coverage C covers personal property
anywhere in the world but … does not
cover
“motor vehicles” UNLESS:
NOT subject to ANY REGISTRATION
USED SOLELY to service an
insured’s residence
DESIGNED to assist handicapped
![Page 9: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/9.jpg)
Maintenance vehicles – HO-2000
Coverage E is universe wide …but
excludes
Motorized land conveyances UNLESS:
NOT subject to ANY registration
USED SOLELY to service an
insured’s residence
DESIGNED to assist
handicapped and being USED
by handicapped
![Page 10: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/10.jpg)
Maintenance vehicles – HO-2011
Coverage C covers personal property
anywhere in the world but … does not
cover
“motor vehicles” UNLESS:
NOT subject to ANY REGISTRATION
USED SOLELY to service A
residence
DESIGNED to assist handicapped
![Page 11: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/11.jpg)
Maintenance vehicles – HO-2011
Coverage E is universe wide …but
excludes
Motorized land conveyances UNLESS:
NOT subject to ANY registration
USED SOLEY to service A residence
DESIGNED to assist handicapped
and used by handicapped
![Page 12: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/12.jpg)
Maintenance vehicles – HO-91/2000/2011
An afterthought …
my answer was for
the named insured
But a relative is
using the vehicle …
is the relative an
“insured”?
It appears so …
HO-2000/2011 but HO-91 same
![Page 13: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/13.jpg)
Maintenance vehicles – HO-91/2000/2011
HO-91 will cover this rental of excavator issue
HO-2000 … the word “solely” could “get you” ..since
other people rent it for other things ….
HO-2011 …again …the word “solely” could be a problem
![Page 14: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/14.jpg)
My client informed me that he has a utility trailer and
trailers his very expensive riding lawnmower over to his
aged mother’s house to mow her lawn.
If it falls out of the trailer and is damaged, is it covered?
If someone gets injured while he is mowing …is he
covered?
Maintenance vehicles
![Page 15: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/15.jpg)
Maintenance vehicles – HO-91/2000/2011
HO-91 would definitely cover this question
HO-2011 also ..used solely to service A residence – would
cover
HO-2000 …no way …used solely to service INSURED’s
residence
![Page 16: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/16.jpg)
Bank request
Not sure if you can help. X Bank is requiring a declarations
page (not a binder) before there is a closing on a property.
Supposedly this is a new requirement of FHA Loans.
Most companies do not have immediate print on policies and
why would they want to write a policy ahead of closing, when
the closing date could change or the closing cancelled. The
agent and the carrier would frequently be cancelling and
rewriting.
We just lost an account because of this and they went to a
direct writer. This does not seem to be consumer friendly. Have
you heard of this? Any suggestions?
![Page 17: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/17.jpg)
Bank request
Per below MA MGL ...I thought they HAD to accept a
binder:
CHAPTER 183. ALIENATION OF LAND. CONVEYANCE BY DEED. Section 65. Acceptance of written memorandum as evidence of insurance. Section 65. Any mortgagee doing business in the commonwealth who makes in excess of five mortgage loans per year shall accept a written memorandum of a preliminary contract of insurance pursuant to section ninety-eight of chapter one hundred and seventy-five as evidence of insurance from any duly licensed agent, broker or insurance company; provided, however, that a contract for insurance for a term of not less than one year is issued within thirty days of said memorandum, or in the event of the cancellation of said memorandum, the mortgagee shall be provided with prior written notification thereof. (Amended by 1986, 505.)
![Page 18: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/18.jpg)
Rented jetski
For a rented jet ski that exceeds the HP allowed on the
homeowners policy, how would I get physical damage and
liability coverage- by purchasing it at the place I rent the jet
ski?
I assume for an owned jet ski, I would need a separate boat
owners policy, but can you please confirm? Thanks so much.
![Page 19: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/19.jpg)
Rented jetski
All the ISO HO editions deal with watercraft the same
way.
The ISO HO-2000/2011 get into the very broad
watercraft liability definition …but bottom line when the
insured rents a jetski … they respond the same way
![Page 20: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/20.jpg)
Rented jetski- the following is the HO-2000/2011
The Exclusion does not apply
to an inboard/inboard
outdrive engine if
RENTED <50 hp
Of course jetskis are
generally measured in cc not
hp …
So …
Converting hp to cc
Jet Ski PWC 1986 Kawasaki X-2 635 cc is 52hp
![Page 21: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/21.jpg)
Rented jetski
If OWNED …it is NEVER covered for free …. Would need HO 24 75 but probably a personal watercraft policy
![Page 22: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/22.jpg)
Rented jetski
Coverage C …personal property would restrict coverage to
special limit of $1,000 under the ISO HO-91 and $1500 under
ISO HO-2000/2011
Also …there is never any theft from off the residence premises
And no windstorm damage unless in fully enclosed building
![Page 23: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/23.jpg)
HO replacement cost – does it end?
I have a client that has had a terrible time getting a contractor
that would agree to company appraisal.
Work took 2 years and 2 months.
She has the denial letter.
What avenue would be open to her? Have you heard if this
being waived for such course?
![Page 24: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/24.jpg)
HO replacement cost – does it end?
The HO 01 20 MA endorsement to ISO HO policy ... any edition modifies Loss Settlement
![Page 25: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/25.jpg)
HO replacement cost – does it end?
The ISO policy talks about 180 days
One ALWAYS can have ACV … I
would file a consumer complaint …
and see what happens … I know the
horror stories of building
![Page 26: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/26.jpg)
HO replacement cost – does it end?
Consumer complaint
Might be in order
![Page 27: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/27.jpg)
HO replacement cost – does it end?
To renege on paying R/C
for a few months is poor
business practice
![Page 28: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/28.jpg)
Home sale and moving
Have a client who is selling his primary home and will be living in a
hotel for a few weeks until the construction for his new primary
home is complete.
He is inquiring about what type of policy he can have while his
personal property is in storage. Can you advise? Thanks!
![Page 29: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/29.jpg)
Home sale and moving
Is the new home insured under a HO policy yet?
if so ... then the ISO HO-91 and HO-2000
provide complete coverage C in storage.
HO-91
HO-2000
![Page 30: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/30.jpg)
Home sale and moving
Has previous policy been cancelled ...
one could "leave it open" for a bit ... for contents and liability ..
but will the house REALLY be done in a couple of weeks –
again ... full coverage C in storage if HO-91 or HO-2000 ...
Where they are temporarily residing could be an “insured location” –
HO-91 and HO-2000
![Page 31: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/31.jpg)
Home sale and moving
Where are they living temporarily - a tenant's policy under ISO HO-
91or HO-2000 - gives full coverage C in storage also …
if one chooses to buy …or one already cancelled the HO-3
![Page 32: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/32.jpg)
Home sale and moving
If the company writes their own
or is ISO HO-2011 then with
HO-2011 there is a 10% limitation
for stuff in storage facility.
![Page 33: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/33.jpg)
Who insures the ring?
My client just bought his girl an engagement ring.
He wants to know who insures it …him or her?
![Page 34: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/34.jpg)
What about the Diamond …does
his tenants policy cover that?
Number one …What is the contents limit
on the HO-4 and how valuable is the
diamond???
Number two … you only have 16 named perils
under the HO-4 UNLESS you have added the
All risk endorsement HO 05 24. - Losing stone
or ring STILL limited with open peril
endorsement
Number three … .”special limit” for theft of jewelry
Who insures the ring?
![Page 35: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/35.jpg)
HO-91 HO-2000/2011
COVERAGE C – Personal Property
Special Limits of Liability. These
limits do not increase the Coverage C
limit of liability. The special limit for
each numbered category below is the
total limit for each loss for all property
in that category.
5. $1000 for loss by theft of
jewelry, watches, furs,
precious and semi-precious
stones.
Coverage C – Personal
Property
3. Special Limits Of
Liability
The special limit for each
category shown below is the
total limit for each loss for all
property in that category.
These special limits do not
increase the Coverage C limit
of liability.
e. $1,500 for loss by theft of
jewelry, watches, furs,
precious and
semiprecious stones
Who insures the ring?
![Page 36: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/36.jpg)
So …we most probably suggest SCHEDULING
the ring …
WHO SCHEDULES IT … Mike or Suzie???
Who insures the ring?
![Page 37: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/37.jpg)
Mike bought it and has insurable interest
Proposal is a “contract” … ring is the
“consideration” …bride-to-be must
return ring if cancel engagement
Suzie wearing it … has custody …could
insure it and if live at home …under mom
and dad’s policy
Who insures the ring?
![Page 38: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/38.jpg)
So …we most probably suggest SCHEDULING
the ring …
Under the HO-2000 /2011 you have the
choice of the
HO 04 61 Scheduled Personal Property
Endorsement
or
the HO 04 60 Scheduled Personal Property
Endorsement (With Agreed Value Loss
Settlement) HO 04 60
Both provide “all risk coverage” …with very
few exclusions
Who insures the ring?
![Page 39: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/39.jpg)
Perils discussion found in the HO 04 61 and the HO 04 60 C. Perils Insured Against
We insure against risks of direct loss to property described only if that loss is a physical loss to
property; however, we do not insure loss caused by any of the following:
1. Wear and tear, gradual deterioration or inherent vice.
2. Insects or vermin.
3. War, including the following and any consequence of any of the following:
a. Undeclared war, civil war, insurrection, rebellion or revolution;
b. Warlike act by a military force or military personnel; or
c. Destruction, seizure or use for a military purpose.
Discharge of a nuclear weapon will be deemed a warlike act even if accidental.
4. Nuclear Hazard, to the extent set forth in the Nuclear Hazard Clause of Section I –
Conditions.
5. If Fine Arts are covered:
a. Repairing, restoration or retouching process;
b. Breakage of art glass windows, glassware, statuary, marble, bric-a-brac, porcelains and
similar fragile articles. We cover loss by breakage if caused by:
(1) Fire or lightning;
(2) Explosion, aircraft or collision;
(3) Windstorm, earthquake or flood;
(4) Malicious damage or theft;
(5) Derailment or overturn of a conveyance.
We do not insure loss, from any cause, to property on exhibition at fair grounds or premises of
national or international expositions unless the premises are covered by this policy
Who insures the ring?
![Page 40: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/40.jpg)
The major
difference
between the
“normal”
Scheduled
personal
property floater
HO 04 61 and
the HO 04 60 is
the LOSS
VALUATION
CLAUSE:
HO 04 61
2. Loss Settlement
Covered property losses are settled as follows:
c. OTHER PROPERTY
(1) THE VALUE OF THE PROPERTY
INSURED IS NOT AGREED UPON BUT
WILL BE ASCERTAINED AT THE TIME OF
LOSS OR DAMAGE. WE WILL NOT PAY
MORE THAN THE LEAST OF THE
FOLLOWING AMOUNTS:
(a) THE ACTUAL CASH VALUE OF THE
PROPERTY AT THE TIME OF LOSS
OR DAMAGE;
(b) THE AMOUNT FOR WHICH THE
PROPERTY COULD REASONABLY BE
EXPECTED TO BE REPAIRED TO ITS
CONDITION IMMEDIATELY PRIOR TO
LOSS;
(c) THE AMOUNT FOR WHICH THE
ARTICLE COULD REASONABLY BE
EXPECTED TO BE REPLACED WITH
ONE SUBSTANTIALLY IDENTICAL TO
THE ARTICLE LOST OR DAMAGED; OR
(d) THE AMOUNT OF INSURANCE.
HO 04 60
F. Conditions
1. Loss Settlement
Covered property losses are settled as
follows:
a. Agreed Value
We will pay, for each article or property
designated in the Schedule, the full
amount shown in the Schedule which is
agreed to be the value of that article or
property. At our request, you will
surrender that article or property to us if
not lost or stolen.
Who insures the ring?
![Page 41: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/41.jpg)
The HO 04 61…doesn’t guarantee payment …
it pays the LEAST of
1) ACV
2) Repair
3) OUR replacement
4) Stated limit
The HO 04 60 guarantees the limit shown on the
endorsement as it is an agreed value coverage.
Agreed value generally costs more …
It is better as long as the insured continually
UPDATES the appraisal that activates the agreed
value option!!!!!
Who insures the ring?
![Page 42: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/42.jpg)
IF the fiancé’ moves in BEFORE she gets the
wedding ring …
is she an insured under his tenant’s policy …
does the policy cover her at all???
She is NOT an “insured” by definition under the
ISO HO-91 or the HO-2000/2011 policies
Who insures the ring?
![Page 43: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/43.jpg)
HO-91
In this policy, “you” and “your” refer to the
“named insured” shown in the Declarations
and the spouse if a resident of the same
household.
3. "Insured" means you and residents of your
household who are:
a. Your relatives; or
b. Other persons under the age of 21 and in
the care of any person named above.
Under Section II, "insured" also means:
c. With respect to animals or watercraft to
which this policy applies, any person or
organization legally responsible for these
animals or watercraft which are owned by
you or any person included in 3.a. or 3.b.
above. A person or organization using or
having custody of these animals or
watercraft in the course of any "business"
or without consent of the owner is not an
"insured";
d. With respect to any vehicle to which this
policy applies:
(1) Persons while engaged in your employ
or that of any person included in 3.a. or
3.b. above; or
(2) Other persons using the vehicle on an
“insured location” with your consent.
HO-2000/2011
5. "Insured" means:
a. You and residents of your household who are:
(1) Your relatives; or
(2) Other persons under the age of 21 and in the care
of any person named above;
b. A student enrolled in school full time, as defined by
the school, who was a resident of your household
before moving out to attend school, provided the
student is under the age of:
(1) 24 and your relative; or
(2) 21 and in your care or the care of a person
described in a.(1) above; or
c. Under Section II:
(1) With respect to animals or watercraft to which this
policy applies, any person or organization legally
responsible for these animals or watercraft which
are owned by you or any person included in a. or
b. above. "Insured" does not mean a person or
organization using or having custody of these
animals or watercraft in the course of any "business"
or without consent of the owner; or
(2) With respect to a "motor vehicle" to which this
policy applies:
(a) Persons while engaged in your employ or that
of any person included in a. or b. above; or
(b) Other persons using the vehicle on an "insured
location" with your consent.
Under both Sections I and II, when the word an
immediately precedes the word “insured”, the word an
means one or more “insureds”
Who insures the ring?
![Page 44: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/44.jpg)
My 20 year old son is living in a Non-Campus
Apartment at UNH in NH.
We live in Massachusetts.
I have some people here at work telling me, no
tenant policy needed because he is still my
dependent and my HO3 policy would cover him and
others saying because he is 20 and off campus my
HO3 would not respond.
What are your thoughts.
Son at school in apartment
![Page 45: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/45.jpg)
Two questions ….
Who is YOUR HO insurance carrier and what edition
of ISO HO policy is it …and if not ISO …need to look
at definition of “insured”
Is living …CURRENTLY … didn’t college end for
summer … is he living in it YEAR ROUND and when
college not in session?
Son at school in apartment
![Page 46: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/46.jpg)
Son at school in apartment
The answer is HO0003, 04/91 – he is back and forth between school and home all summer, but apartment is rented 6/1/16-5/31/17,
![Page 47: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/47.jpg)
but …if the same apartment is rented the following year …the
“insured location” definition regarding temporarily residing
gets “gray”
d. Any part of a premises:
(1) Not owned by an "insured"; and
(2) Where an "insured" is temporarily residing
I would ask the underwriter just to see the company’s take on
this issue…they should have one since the HO-91 is over 2
decades old
Son at school in apartment
![Page 48: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/48.jpg)
An off campus apartment will be considered another “insured’s
residence” and contents limited to 10%
If he leaves his stuff more than 45 days there is no theft
Sometimes an HO-4 guarantees at least ONE policy will pay.
Son at school in apartment
![Page 49: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/49.jpg)
The ISO HO-2000/2011 creates a bigger problem with The definition of “insured”
Son at school in apartment
![Page 50: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/50.jpg)
The ISO HO-2000/2011 creates a bigger problem with The definition of “insured”
Son at school in apartment
Move out in August come
back every May??
Move out as a Freshman
and come back graduated
as a senior?
![Page 51: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/51.jpg)
This is NOT a cut and dried answer …
you really should be talking to the company …
not me …and certainly not co-workers
Son at school in apartment
![Page 52: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/52.jpg)
Our insured’s son will be renting an apartment
when he goes to college …
but the parents are signing the lease – will that be a
problem?
Son at school in apartment
![Page 53: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/53.jpg)
Well …that is interesting …and more of a legal
question…
Since the parents are NOT going to live there then the HO-4
cannot be in THEIR NAME ….
Named insured MUST live there
Son at school in apartment
![Page 54: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/54.jpg)
The ISO HO-2000/2011 definition of residence premises
under the ISO HO-4 is:
HO91 is:
Son at school in apartment
![Page 55: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/55.jpg)
Can we add parents in addition to son….
Otherwise …I’d prefer lease in just kid’s name …
But …I’d ask a lawyer if there are legal ramifications
Son at school in apartment
![Page 56: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/56.jpg)
I have a potential customer who is looking for a renters
policy. She has a 75 gallon fish tank and needs liability
coverage for in the event that the tank leaks and damages
the floor in her unit.
Would the HO 04 10/00 form cover this liability loss? I do
not have a copy of the 10/2000 form. But reading the
1991 HO 04 form I understand that liability coverage does
not apply to property damage to property rented to insured
or in their care or custody.
Does that apply to the unit?
Tenant’s policy and property damage to apartment
![Page 57: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/57.jpg)
Under Section II personal liability exclusion one sees:
F. Coverage E – Personal Liability
Coverage E does not apply to:
The ISO HO-91/HO-2000/HO-2011 has same exclusion
Tenant’s policy and property damage to apartment
![Page 58: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/58.jpg)
There is an additional coverage of $1,000 but that is
it:
The HO-91 only provides $500
Tenant’s policy and property damage to apartment
![Page 59: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/59.jpg)
We have an insured with an HO-4 (10/00).
They have purchased some land and are going to
be building their new home on the land.
Will the HO-4 provide personal liability coverage for
the land while the home it being built?
Tenant’s policy and building a house
![Page 60: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/60.jpg)
The ISO definition
of "insured
location" in HO-
2000/2011 (as well
as HO-91)
Tenant’s policy and building a house
![Page 61: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/61.jpg)
One of my customers asked if he has a relative living
in the home who is a household member, and the
relative is injured on the premises, can the relative
go back and sue the homeowners for bodily injury?
On the ISO-HO3 form the definition of insured also
includes household members and I know that an
insured cannot sue themselves.
Is this something that commonly happens or
insured's will run into? Please let me know.
•
Insureds suing insureds
![Page 62: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/62.jpg)
All of the ISO editions state that resident relatives are
Insureds ….
This is HO-2000 …but
We have seen the HO-91 and
HO-2011 previously
Insureds suing insureds
![Page 63: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/63.jpg)
Anyone can be sued by anyone.
Does ANY ISO HO edition respond ...
MP states it does NOT apply to anyone living in your
household
Insureds suing insureds
YES
NO
![Page 64: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/64.jpg)
Coverage E BI/PD excludes an
"insured" suing an "insured" ...
no defense and no payout
and "insured" does include
"resident relative"
Insureds suing insureds
![Page 65: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/65.jpg)
A HO client has bought a golf cart and will drive it
on private roads in an association he is a member
of.
His home is on the association property.
Will liability coverage apply?
Not sure but under 4.c. on page 1. the policy form
says “Any premises used by you in connection with
a premises in 4a.” - does this extend coverage?
Golfcarts and HO policy
![Page 66: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/66.jpg)
Hopefully you can help me with our bet.
I say there is coverage Dave along with Company
underwriter says no coverage.
There is a Whole dollar on the line for this question
so I am expecting a positive response in my favor.
Golfcarts and HO policy
![Page 67: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/67.jpg)
The company in question
is an HO-91 carrier
Golfcarts and HO policy
![Page 68: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/68.jpg)
In YOUR question you said PRIVATE roads in an
association … if they are PRIVATE roads …
then the HO-91 should respond per the definition of
“insured location” …
“residence premises” and any premises used in
connection with residence premises …or location used as
a residence a. and b.
Golfcarts and HO policy
![Page 69: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/69.jpg)
The motor vehicle exclusion
under the HO-91 reads:
So it’s a recreational vehicle
Designed for off road use
If owned it can be used
On an insured location (common
Areas)
And
While playing golf on golf course
Golfcarts and HO policy
![Page 70: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/70.jpg)
PRIVATE roads in a HO association SHOULD be considered an
“insured location” …and SHAME SHAME SHAME on a company
that interprets otherwise.
There is NOTHING in the policy that states the premises used in
connection with needs to be ADJACENT to the residence
premises.
SHAME SHAME SHAME if a company takes this standpoint.
Golfcarts and HO policy
![Page 71: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/71.jpg)
If these are PUBLIC roads in an association …
such as “The Villages” in Florida …there could be an issue …
as public roads do not meet the definition of “insured location”
…per se …
Golfcarts and HO policy
![Page 72: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/72.jpg)
The ISO HO-2000 and HO-2011
loves owned golf carts for
liability ANYWHERE in
community including public
roads
Golfcarts and HO policy
![Page 73: Whatcha - massagent.com think pers... · rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent](https://reader031.fdocuments.us/reader031/viewer/2022041312/5e15805bd353b718a11eb11b/html5/thumbnails/73.jpg)
Thank you for attending…
Whatcha think
Personal residential issues