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Tip of the Week
Put that ladder away?
Have you ever noticed a ladder that's leaning against your neighbors' house for days/weeks at a time? That's not good! Why? Lets say a neighborhood child climbs the ladder and falls off the roof and is injured or worse killed! Do you know who is liable for damages? Well, if the homeowner used it and never put it away....it's the homeowner! The homeowner becomes negligent by not taking the ladder down to prevent accidental injury or death to a child. Luckily if you have a homeowner policy, your liability coverage would kick in here. Keep this in mind for these types of hazards and other's. For example, no handrail on your steps!
Thanks
Brian Keith Ledbetter, President
Ledbetter Insurance Agency, Inc.
I spilled a bucket of paint on my new carpet. Is there coverage under my Homeowners policy?
Wow, I was painting my dining room the other day. I accidently knocked the paint can off the ladder onto my new carpet. It’s all ruined! Will my homeowners policy pay to replace the carpet?
Under your basic HO3 homeowner or HO4 renters policy your contents/ personal property is covered for 20 Named Broad Form Perils. They are:
A. Fire and Extra Conditions perils: wind, civil commotion, smoke damage, hail, aircraft, vehicle not operated by an insured, explosion and riot
B. hostile fire, lighting, removal, vandalism and malicious mischief, broader smoke damage, glass damage by burglars, falling objects, weight of ice or snow, collapse, artificial currents, freezing of discharge from plumbing and cooling
As you can see from the above covered perils, this ruined carpet isn’t covered.
Great news however, you can add an endorsement to your homeowners policy to cover these additional risks. Subject to certain exclusions.
That form is H0-0015. An additional premium is required for the endorsement. In Addition, make sure you have replacement cost on your personal property.
Otherwise you will receive replacement of the property minus depreciation.
Ask your agent about these important coverage’s.
Thanks
Brian Keith Ledbetter, President
Ledbetter Insurance Agency, Inc.
My brother borrows my car, is he covered if he’s involved in an accident?
If you have purchased auto insurance for the auto the brother is driving and he has your permission to use the car, coverage will apply. Anyone that drives your auto with your permission is covered.
There are a couple caveats here:
A. If he resides with you when you purchased the auto policy and you failed to list him as an operator the company could decline coverage on the basis of fraud on the application. Any person residing in your household or that has regular use of your auto, should be listed on the policy.
B. No coverage for specifically excluded drivers.
Sometimes a driver is “EXCLUDED” from a policy by the insurance company.
A couple reasons for this; A member of the household is unlicensed in which case the company will not issue the policy without the exclusion. The driving record of another member of the home is poor. In this case it will drive up the cost of the policy, so the named insured elect’s to exclude that driver for a more favorable premium.
Thanks
Brian Keith Ledbetter, President
Ledbetter Insurance Agency, Inc.
My neighbors tree falls on my car during a storm, is he responsible for the damages to my auto?
So there’s a major ice storm in your area. Your neighbors tree from the weight of the ice, falls on your car causing major damage. Is the neighbors homeowners policy going to fix your car? Unfortunately not. The ice storm is an Act of Nature and there is no negligence on the part of your neighbor. You would look for coverage under the comprehensive portion of your own automobile policy. If your automobile policy
has liability only, you will have to repair the car out of pocket.
Thanks
Brian Keith Ledbetter, President
Ledbetter Insurance Agency, Inc
The above comments are simplified interpretations of the ISO policy forms by Brian Keith Ledbetter. Individuals should contact their own insurance agent or claims adjustor for a complete understanding of their policy and it’s coverage’s.