Ask Tim, Episode #27 -- 5 Things You Didn't Know About Homeowners Insurance

The new episode of the Ask Tim podcast discusses five coverage wrinkles in the ISO Homeowners policy (year 2000 edition) that you might not be aware of. The highlights:

• I've got a trivial mind
• The Homeowners policy will pay to remove fallen trees that are blocking a driveway or handicapped-access ramp.
• The policy covers, without a specific dollar limitation, personal property at home that the insured uses occasionally for business.
• The policy does not cover the cost of refilling a swimming pool that had to be drained for repairs.
• Without the Special Coverage endorsement, the policy does not cover a TV damaged by someone throwing a Nintendo Wii game controller into the screen.
• The policy provides up to $200 coverage for gift cards.
• For more information, visit the Big "I" Virtual University Research Library section on Homeowners insurance.
• I hint at a potential career change.

Download Ask Tim Episode #27

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Comments

[Tim O'Brien]

Even with a Special Coverage endorsement, wouldn't the example of throwing a Wii controller at a TV and damaging the TV be an intentional act, thereby causing the claim to be denied due to the "intentional act" exclusion??

[Tim Dodge]

Tim,

Good question. The exclusion in the ISO Homeowners policy states, "We do not insure for loss caused directly or indirectly by any of the following...Intentional Loss means any loss arising out of any act an 'insured' commits or conspires to commit with the intent to cause a loss...In the event of such loss, no 'insured' is entitled to coverage..." The key phrase is "with the intent to cause a loss." When someone is playing a Wii game, certainly his intent is to move as if he were actually playing the sport. His intent may even be to make a throwing motion. However, in most cases he will not intend to actually lose his grip on the controller, and he certainly would not intend to damage the TV, which would prevent him from playing any further. Therefore, unless the insurer (who has the burden of proof when invoking an exclusion) can prove that the insured intended to cause damage to the TV, the policy should provide coverage for the loss.

[Tim O'Brien]

An even better answer....proving why you are THE insurance geek! Happy Holidays Tim - I am a big fan, and aspiring geek.

[Tim Dodge]

Thanks, Tim! Happy holidays to you, too!

[susan hardesty]

I have a question...Our homeowner's insurance carrier has informed us that because we have a rottweiler mix (we have had him about 6 years and they originally insured us knowing we had him) they MAY drop us. Is there a homeowner's ins. co that would cover us? or is there a special rider we could add to our coverage?

[Tim Dodge]

Susan,
As a dog owner, I hate to hear stories like this. The best thing you can do is contact several insurance agents, both independent agents (who represent multiple companies) and agents that represent just one company, such as Allstate. Every company has a different attitude toward different dog breeds. An independent agent should be well aware of what his or her insurance companies are doing with regard to dogs. If you shop around, you should hopefully find someone who will insure a rottweiler. Good luck to you!