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  1. Personal property in a vehicle damaged by water | Ask PIA

    Our insureds left their car parked on a street during a period of significant rainfall. Water in the street got so high that it damaged personal contents that they had left in the car. The damage to the car is covered by their auto policy’s comprehensive coverage. How could they...

    The most likely source of coverage for this loss lies with the Homeowners 5—Comprehensive Form. This form, which covers personal property against all risk of direct physical loss that is not specifically excluded, has an important exception to the Water exclusion. It states, “This [flood] exclusion does not apply to...

  2. Sewer back-up excluded; endorsement available | Ask PIA

    My homeowners policyholder has a sewer that runs across a neighbor’s property to connect with the main. He has an easement that authorizes this. A contractor working for the neighbor damaged the sewer line with a vehicle, causing sewage backup in the insured’s house. About $10,000 in damage was...

    No coverage is provided in the standard ISO Homeowners Policy. The ISO form has an exclusion for damage from water that “backs up through sewers or drains” or “overflows or is otherwise discharged from a sump, sump pump or related equipment.“ This exclusion is augmented by a statement that coverage...

  3. Subrogation against tenant’s policy | Ask PIA

    If a tenant of the insured’s residence causes water damage to the home, can the homeowners insurer subrogate against the tenant for the damages?

    Yes, unless the lease agreement waives this right. The Insurance Services Office Inc.’s HO-3 form states under F. Subrogation that the company may require from the insured an assignment of rights of recovery to the extent of any payments it makes under the policy, unless the insured has waived in...

  4. Changing apartments | Ask PIA

    Our insured is moving from an apartment (which she is still responsible for under her lease until the last day of the month) into an assisted-living apartment. How can I keep the liability coverage effective on the old apartment until the end of the month?

    If you do nothing until the last day of the month, then the new apartment automatically becomes an “insured location” upon being acquired by your insured during the policy period for use as a residence. The contents will be covered at the new location without endorsement for up to 30...

  5. Covering landlord’s furniture | Ask PIA

    Will the HO-4 policy purchased by a tenant cover the landlord’s furnishings in a rented dwelling?

    Yes. Coverage C applies to any property used by the insured. In fact, the renter’s policy may offer better coverage than the landlord’s policy purchased on this property, because the HO-4 includes coverage for theft—something that is more difficult and costly for the landlord to obtain than the renter. The...

  6. Home sold—staying on | Ask PIA

    If our clients sell their home and make an agreement with the buyers for them to continue living there for two months, paying rent, would we need to change the homeowners policy they have to a renters policy?

    There is no policy provision that would preclude coverage for the insured’s contents and loss of use, as well as personal liability. Since your clients no longer have an insurable interest in the dwelling, there would be no payment to them if it were damaged. So long as your clients...

  7. Worldwide coverage | Ask PIA

    If a homeowner is planning to vacation out of the country, does his or her homeowners coverage apply worldwide?

    Yes. In the ISO Homeowners Policy, there is no territorial restriction to certain countries, as you would find in most personal auto policies. (Renting an auto outside the country does present a coverage problem.) Personal property is covered up to the full policy limit “while it is anywhere in...

  8. Damage in transit—time-element exposure | Ask PIA

    We insure a publisher who is sending out copy by auto for layout off-premises. If the copy was damaged in transit, the publisher could suffer a major loss of income. How do we cover him for his resulting time-element exposure?

    Although the publisher’s work has insurable value and is subject to loss, the significant loss potential is with the missed deadline, resulting in thousands of dollars of lost revenue. The ISO business income policy restricts its application to physical damage to property by a covered peril “at the premises described...

  9. Florida licensing requirements | Ask PIA

    I plan on moving to Florida but would like to stay active selling insurance. What do I need to do to become licensed there?

    In order to become licensed as a resident agent in Florida, you must terminate your resident license in the other state and have held a valid license in your previous home state for the same type and class you are applying for in Florida for at least one year prior...

  10. Rental car legislation | Ask PIA

    How does enactment of Chapter 656 of the Laws of 2002 (removal of cap, etc.) affect the insured?

    For New York policyholders covered by the mandatory Rental Vehicle Coverage Endorsement, there is no impact. Their insurers, on the other hand, must pay the amount over $100 up to the fair-market value. Of course, renters without auto insurance will have to pay the difference out of their own pocket....

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