Monday, August 18, 2008
You've Got Some Q's: We've Got the A's
Q: My wife lost her wedding ring while we were on vacation. Is this covered under my house insurance?
A: No. It would have to be stolen in order to be covered UNLESS it was scheduled on the home policy as "Scheduled Personal Property"
Q: A tree has landed on my house and has caused damage to my home. Will insurance replace the tree?
A: No. Home insurance protects your home and detached structures. Trees are not covered.
Q: My vehicle was broken into and personal property was stolen, is this covered under my full coverage auto insurance?
A: No. Only items that were attached to the vehicle as stock items are covered. Personal property losses would only be covered under a home, renters, condo/townhome, or mobile home policy. Auto insurance never covers personal property.
Q: Water came up through my sewer drain and destroyed my roommate's belongings. Will my homeowners insurance cover this?
A: No. Your home insurance will cover only those things belonging to you or a family member. Unless you have Water Back-up coverage, your home insurance would not even cover your belongings. In this situation, your roommate would need to get a renters insurance policy to cover their belongings in an event of a loss, and in this situation, they would also need to have the renters insurance policy endorsed with the Water Back-up of Sewers and Drains coverage in order to be protected.