|
1. Industry Type
0 Comments
Q - Q - Does home owners insurance cover water damage caused by a broken water line from the toilet?9/12/2024 Auto insurance follows the car not the driver, per se. So the car insurance the owner has would pay for the damages done, no matter who was driving at the time (assuming permission was given). Now the insurance company paying the claim would want to know why that person was using the vehicle and whether or not that driver needs to be added to the auto insurance policy.
No. Personal property - a stolen laptop, missing luggage, fire in your apartment/house - all personal property is covered by homeowners insurance or renters insurance. Auto insurance has nothing to do with your personal property.
Probably a maintenance issue and not a sudden and accidental loss.
Our past UNCOVERED losses: 80 year old chimney came crashing down. Lacked mortar between brick, lacked maintenance. 40 year old boiler stopped. No water was getting into it and it seized up, lack of maintenance. Leak behind a shower wall for 6 months. You never saw water on floor or basement? Lack of maintenance. Insurance is NOT for the upkeep of your home. It is for sudden and accidental loss. A 60 mph wind blows shingles off your roof. A tree falls and damages your garage. A 2nd floor bathroom pipe bursts and there is damage to the 1st floor walls, ceilings and flooring……that is what homeowners insurance is for. Liability wise 100%! Our claims have been for a hairdresser burning someone’s scalp - $125,000. A slip and fall at a rental property - $50,000 paid. A gas company meter reader falling down basement stairs at a landlord’s property - $75,000. A broken tooth at a restaurant - $14,000 paid out. Would you want to pay these in cash if they were your business without insurance? Actual claims paid through my insurance agency.
I would not own a business without business insurance. Yes and no. The no part - you cannot be forced to sell your home in a judgement. The yes part, it becomes a lien on real property in NY state, so payable upon the sale and/or refinance of your home. Cannot be forced to pay but you will pay this to get a clear title to sell when you are ready!
So you must pay eventually but being forced to sell - NO. A- Insurance is a state-by-state run industry and only 2 states do NOT REQUIRE auto insurance - I believe Tenn. and NH. All other states this is MANDATORY to have car insurance to protect the public from reckless, negligent drivers. So most High-Net-Worth people would carry very high liability limits and very high deductible but self-insure…NO!
Q - Why would an automotive insurance company keep contacting me about an accident instead of going through my insurance company when they know my agent? I'm sick of telling them I don't wish to talk to them and to contact my insurance company instead.
A- They want to know your version of what happened to see if it agree’s with the other parties version. They want to make sure who’s fault it was and which company is going to pay what % of the claim. Since your agent wasn’t at the scene, they cannot know what happened, you must tell them either on the phone or in a written description of what happened. Insurance follows the car, not the driver. So whomever owned the car it is their claim. But, as previously stated, they must have had comprehensive coverage on the car to have a claim. Liability only coverage will do no good in the event of a theft.
|
Contact us(716) 684-3203 Archives
September 2024
Categories |
- Home
-
Quotes
- Service
-
Insurance
- About
- Blog
-
Videos
- Landlords Insurance
- Comprehensive Coverage
- Independent Insurance Broker VS an Insurance Agent
- How to Get Good NY Landlord Insurance Policy
- Homeowner and Liability Risks
- Homeowners Garage Insurance
- Property and Landlord Insurance
- Underground or Service Line Homeowner Coverage
- Running The Game with Tom Larsen
- Contact
- FAQs
RSS Feed
- Home
-
Quotes
- Service
-
Insurance
- About
- Blog
-
Videos
- Landlords Insurance
- Comprehensive Coverage
- Independent Insurance Broker VS an Insurance Agent
- How to Get Good NY Landlord Insurance Policy
- Homeowner and Liability Risks
- Homeowners Garage Insurance
- Property and Landlord Insurance
- Underground or Service Line Homeowner Coverage
- Running The Game with Tom Larsen
- Contact
- FAQs