Does windstorm include tornado?
Since the policy specifically refers to windstorm as a covered cause of
loss, some residents have wondered what exactly windstorm includes.
Tornadoes, hurricanes, high winds, thunderstorms and blizzards are all included
in the definition of windstorm. Your homeowners policy also provides
'loss of use' benefits to cover additional living expenses while repairs
are being made to your home.
Please call us with any specific questions regarding your property coverage.
We are always happy to review your current coverage needs.
Volunteer Activities: Are
you covered?
You are a volunteer soccer coach, a 4-H advisor, a chamber of commerce committee
member, on the church board, or you helped raise contributions for the last
United Way campaign. Perhaps you have volunteered hundreds of hours
this year without a thought of insurance coverage. If someone is injured,
who pays for any legal action brought against you in these volunteer activities?
If you serve as a board member and are sued for breach of duty, imprudent
investments, discrimination in hiring or wrongful termination, are you covered?
To answer these questions, there are two places to check: your home insurance
and the organization's insurance. Let's look at them:
Your homeowners insurance policy gives you liability protection for bodily
injury and property damage to others in non-business activities, like a
child who is injured when you are the volunteer soccer coach or 4-H advisor.
On the other hand, no protection is provided if your volunteer activity
is related to a business (chamber volunteer, union, trade or professional
association representative, etc.) or if you receive any compensation.
Any legal action other than bodily injury and property damage is not covered
(an exception: some homeowners policies cover personal injury --- libel,
slander, false arrest, false imprisonment, etc.).
Also check for coverage under the organization's policy. Ask the organization
leadership for proof of insurance for general liability, directors and officers
liability, and employment practices liability. Also check to see if
volunteers are covered (named as additional insureds) under those policies.
Some other potential loss situations could include:
Failure to examine documents signed
Silence with respect to improper conduct of fellow officials
Improper rejection of bids
Failure to exercise diligence in management
Incurring unnecessary expenses
Communities are fortunate to have so many volunteers donating their time
in a host of different areas. This discussion is not meant to discourage
any present or prospective volunteers. Rather, our intent is to help
individuals be well-informed, comfortable and adequately protected when
it comes to volunteering.
Earthquake, Flood
and Sewer Back-up
While not wanting to dampen your anticipation of this long-awaited season,
it is a good idea to review some optional coverages you may wish to add
to your current homeowners policy. Flood insurance as well as the
sewer back-up and earthquake endorsements are worth a brief examination.
Flood- Since flood damage is excluded under your homeowners
coverage, you should be aware that flood insurance is available from the
National Flood Insurance Program. Most Ohio communities have qualified
for the program that provides coverage for surface flooding only.
Structural and contents protection are offered. A $500 deductible
applies.
Sewer Back-Up- This endorsement provides protection
for direct loss caused by water that backs up through sewers, drains or
sump pump wells. Just as flood insurance excludes coverage for sewer
back-up, this endorsement excludes any coverage for damage due to flooding.
Coverage is subject to a deductible.
Earthquake- Coverage
is available with the premium determined by the structure of your home or
building. Because it will better withstand an earthquake, a frame
structure is less to insure than a masonry one. A substantial deductible
(often a percentage of the amount of insurance that applies to the destroyed
or damaged property) is in effect.
For clarification of your current policy or information regarding the above
coverages, please contact us. We welcome the opportunity to evaluate your
present needs and to discuss possible insurance improvements for you and
your family.
Your Home Business: Know Coverage
Test your knowledge of your homeowners insurance:
Are you covered?
While caring for a child for a fee, the child is
injured in your home. The parents expect you to cover the
hospital bills.
You replace your friend's car
brakes for a "few bucks" and the car is damaged or your friend
is hurt in some way. He expects compensation.
A friend slips on an icy walk or trips on a toy
while picking up the craft item she paid you to make. She
expects you to cover medical bills.
You use your detached garage
for a small woodworking business and the garage is damaged in
a windstorm. You want your garage rebuilt.
You do word processing for a fee from your home. Your
computer is stolen. You want it replaced.
You are a self-employed sales
representative with an office in the home. While
entertaining a client in your home, the client is injured and
expects compensation.
In each situation described, the answer is probably "not covered" --- unless
you have added specific coverage to your policy for this home business.
Take away the compensation, or business aspect, and each would probably
be "covered". Situations like those described can be covered in one of three
ways:
Your employer may cover it if your business is conducted on behalf
of your employer.
A business insurance policy may be purchased to cover it.
Your home insurance policy can sometimes be broadened to cover it.
If you have any concerns about a business-type activity in your home, call
us. We'll be happy to discuss it with you.
Money Saving
Tips
Controlling household expenses is something we all try to do. We want
to help you reduce your home insurance costs when possible. Here are
some points to consider:
Smoke alarms. Check your policy
or contact us to see that you are receiving a discount. If you don't
have alarms, get them. Not just for the discount, but for your family's
safety.
Higher deductibles. The standard deductible today
is $250. If yours is lower, you are paying an added charge.
If you choose a $500 or higher deductible, more savings are available.
Delete unneeded coverage. Review your policy. There may
be jewelry listed that has since been sold, endorsements for businesses
in the home that are no longer in operation or other unnecessary coverages.
Central station alarms. Fire and burglary alarm systems
that automatically dial a central station can provide both good security
and a significant premium savings.
Combine home and auto insurance
in one company. Companies often offer a discount on the home and auto
insurance or both when carried by the same insurer.
In addition to these money-saving tips, some companies offer discounts if
you have fire extinguishers, deadbolt locks or a loss-free record.
Check with us to see if your plan offers any of these options.
Remember, under insuring is not a recommended way to save premium
as it can lead to serious problems settling a claim. Whether it's a question
about cost or coverage, we're always willing to review any insurance concerns
with you. Please call us.
Just how broad is your insurance coverage? Will it cover sunken tractors?
This true story has occurred several times: our client parks his riding
mower on a hill, dismounts, and the tractor slips out of gear and rolls
into the pond. Covered? Only if you have an HO15 endorsement on your
policy.
You don't have a riding mower or a pond you say? The HO15 endorsement
broadens a homeowners policy so that it also covers other personal property
lost due to extraordinary situations. Consider these other covered
losses:
Lost jewelry or gemstones falling out of jewelry not specifically
insured (subject to a policy dollar limit).
Loss in value when a gemstone is scratched or cracked (subject to
a policy dollar limit).
Cameras or other personal items falling overboard from a boat or a
capsized canoe.
A hot iron falling on and scorching an area rug.
A deer crashing through a sliding glass door causing extensive damage
to household contents as it struggles to deal with the unfamiliar surroundings
of a family room.
Raccoon damage (rodents and vermin are not covered).
Lost hearing aids, eyeglasses, telescopes, cameras, etc.
Spillage of paint, India ink, nail polish, acid, bleach, and other
chemicals that damage household contents.
Most home insurance policies list 17 or 18 different perils of coverage
for household contents that do not include the above or numerous other bizarre
possibilities. The H015 will cover most of these --- subject to your
policy deductible.
