Why do I need this when my homeowners policy covers my personal property. There may be perils covered by Trov not covered by my policy, but I can always schedule it. In addition, while coverage might appear to be broader with Trov, they have exclusions like this:
“YOUR failure to take reasonable care of or to prevent LOSS or THEFT or damage of the PROTECTED ITEM.”
What constitutes “reasonable care”? Language like this is sometimes referred to by the trial bar as “weasel words” because their ambiguity can be used to potentially deny most any claim, necessitating legal action by the insured for recovery on the basis of ambiguity.
Another exclusion is for “superficial damage that does not affect the performance of the PROTECTED ITEM.” Is a cracked iPad screen “superficial” damage if it can still be used?
Also excluded is any act of nature. Specifically mentioned are floods, hurricanes, tornadoes, and earthquakes, though it is not clear if the exclusion is limited only to those acts of nature or might also include, for example, wildfires. Given that most homeowners policies cover windstorm, there continues to be a need for that coverage as well.
Why do I need this when my homeowners policy covers my personal property. There may be perils covered by Trov not covered by my policy, but I can always schedule it. In addition, while coverage might appear to be broader with Trov, they have exclusions like this:
“YOUR failure to take reasonable care of or to prevent LOSS or THEFT or damage of the PROTECTED ITEM.”
What constitutes “reasonable care”? Language like this is sometimes referred to by the trial bar as “weasel words” because their ambiguity can be used to potentially deny most any claim, necessitating legal action by the insured for recovery on the basis of ambiguity.
Another exclusion is for “superficial damage that does not affect the performance of the PROTECTED ITEM.” Is a cracked iPad screen “superficial” damage if it can still be used?
Also excluded is any act of nature. Specifically mentioned are floods, hurricanes, tornadoes, and earthquakes, though it is not clear if the exclusion is limited only to those acts of nature or might also include, for example, wildfires. Given that most homeowners policies cover windstorm, there continues to be a need for that coverage as well.