Ask an insurance expert: the insurance non-bs thread

TMI. The Average consumer will have their eyes rolling around in their heads 1/4 way down the above. Take one coverage area at a time to explain and respond to questions.
30 years as a Teacher, 10 years Insurance Agent-all lines.

 

i have more professional experience than you. so the answer would be - no.

 

pizza delivery can either be through a ridesharing company, or while employed by a restaurant. that’s the difference and they should have specified. if you are working for a restaurant delivering pizzas you need a commercial policy.

 

Well...what the heck. I tried!

 

cromag27

thanks so much for this thread link!
Freakin Awesome
26yrs in here same company (adjusting)
17yrs with cars….ugh
Last 9yrs doing boats/RVs/MC’s/UTV’s
TX contract is my wheelhouse as far as knowledge goes


As far as pizza delivery
You are spot on

the inside adjuster asks “what was purpose of use of your trip/drive?”
Using Your covered Vehicle for deliveries/profit is a specific Exclusion in (TX) policy

Just to make clear
I’m 100% here to help members with the gauntlet of ins comp BS
One can literally say one choice word, rather than another word. The word chosen by an un-informed person, usually benefits the ins comp.

going thru remaining 7pgs now
Cheers

 

i cancelled a 79 years old lady’s policy today because she said the wrong thing to me during a phone call.

some insurance companies will allow for certain types of deliver services with the correct policy type and/or correct coverages.

your investigation is pivotal!

 

Agreed.

Same school as you(thinking lol)

Old (retired now) mgr once told me
“You LOOK for coverage, you do not look for ways to Deny Coverage.”

great moto that I abide by
Not sure if all ins comps/employees nationwide do this
Of course, I’m old.

 

For instance…..just this week

leaky travel trailer
Water Seepage specifically Not Covered
Bc of lack of maintenance of seals

upon inspection, owner had tree branch chatter on the roof radius(extreme sides)

I told owner, cannot pay for water damage. However, my job not to say no.
My job to inspect entirety of your unit.
I found a Covered Loss to your roof.
Assisted owner to make new claim.
Paid the man $7k for new roof

 

Looking at sea doo jet ski's (RXP-X 325) and can am x3 side x sides. What should I look for in coverages and are pwc trailers covered separately from the ski?

 

lots of liability coverage, especially if several people will be operating them. unless required, not sure physical damage is that important on a pwc. maybe on the side x sides depending on value and cost of coverage.

trailers can be covered depending on the insurance company. if included it’s usually like $2500.

liability is the most important in case you or someone else causes an accident. think about the likelihood of causing bodily injury or physical damage to someone else.

 

I got a $3 discount for unstacking my insurance.

Being as I only have 1 vehicle on my policy, was I essentially paying for nothing? None of the agents I spoke with could answer that.

My understanding is that stacking let's me use the coverages of all my vehicles on the policy if I have an accident.

If I only have 1 vehicle on the policy though I'm essentially throwing money away with no upside?

 

think of stacking as a multiplier based on the number of vehicles on your policy. you are correct - if you only have one vehicle there is nothing to stack.

 

MGM
As far as pwc
Trlr needs to be listed on policy

As far as clms for pwc’s that I have handled……
20% are impacts…..easy….sudden and direct event…..paid for
10% sinkers always BIG investigation unless a documented storm in area
20% are thefts
50% are mechanical failures/lack of maintenance
-not winterizing
-not flushing out the exhaust after use
-jet drive Teflon wear ring fails, sinking vessel
-block water jackets not flushed per manufacturer specs, clog up, engine overheat, blown HG

for UTV’s(side by sides)
Just make sure you have enough AM add on coverage
In TX you get $3k for free
I have seen $30k in coverage(on top of the ACV of the unit
Some of those roofs with amps/speakers/woofers incorporated into the roof run $7k easy
Glass windshield with wiper and washer running $3k
Portals $4k
etc

 

the term “no fault” gets mentioned a lot and usually, used incorrectly.

there are “no fault” coverages on policies that can be paid regardless of who caused the accident - pip, med pay, collision

then there are “no fault” states which means you must file a claim with your insurance company regardless of fault.

there really isn’t anything called a “no fault” auto policy.

in the event of an accident there will always be fault determined during the claims investigation. some states it’s either your fault or not your fault. other states divide the fault based on a percentage.

 

Excellent thread @cromag27 - I appeciate the insights!

It is one of these topics that are required, complex, and where the average Joe has little opportunity to gain real expertise.

Do you deal with property coverage?

How does a homeowner determine when damage merits a claim? (Vs. Self Repairing )

I am seeing indications of moisture in a wall. I suspect failing flashing on a deck above. It may be small, but it is unknown until we actually look inside...

A claim may be merited.

Does an attempt to self repair relieve an insurer from paying a claim once inspection takes place (cutting a hole) or a repair is started?

I haven't done anything yet...

Does asking my agent equal making a claim?

Thank you.

 

I'm also in the industry. I would never make a homeowner claim for anything small. If I had the issue you're describing, I'd hire a licensed, reputable contractor and have them diagnose the problem and look for the extent of damage. Then I'd make the determination whether to have them stop where they are so that I could report it to my insurer, or have them keep going and pay out of pocket. My $.02.

An attempt at a self repair, for the most part, doesn't compromise your ability to file a claim. Take pix, document everything. Oh, and whatever you do, don't do more damage than is already done.

You can contact your agent and ask questions. That doesn't equate to filing a claim. If you file a claim, you can always ask the insurance company to close it without payment if you decide not to pursue it. I'd typically not choose the latter route. Also my $.02.

 

asking your agent doesn’t mean you’re filing a claim.

price aside, some things to think about.

fixing it yourself can effect future claims related to the same issue.

there is a record of all claims you file and may effect your premium at renewal or your premium with another company if you switch.

too many claims can be grounds for cancellation of your policy as you’re too much of a risk.

i wouldn’t trust an agent to give you the best advise here. i’d recommend you contact insurance company and talk it out with their claims department. however, when you speak with them they will most likely open a claim but that doesn’t mean you have to follow through with it.

 

yup. “small” being the keyword here. you have to think about your deductible and whether or not you want a new claim added to your clue report.

 

it should also be noted that opening a claim and closing it without payout can still effect your premium, can still be added to your clue report and can still be grounds for policy cancellation.