Your 20-year-old daughter is away at college. She does not have a car on campus, but her roommate does and she drives the auto occasionally. Would your unendorsed personal auto policy respond if she has an accident driving the car? If not, is there anything you can do about it? You might be surprised…
One of the most often overlooked (and potentially catastrophic) coverage gaps in the Personal Auto Policy involves autos owned and separately insured by resident family members. This exposure most likely exists in MANY of your personal lines accounts. Here’s the problem and what to do about it.
Quite often, the VU “Ask an Expert” service gets a question about the insurance ramifications of something an insured was advised to do by an attorney, CPA, estate planner, or other non-insurance professional. What we have found is that such economic advice can frequently create a potentially catastrophic coverage gap that is penny wise but…
Your insured owns a company that has no auto coverage. For tax (or other) reasons, the company buys a car then leases it to the owner, your insured. He wants to cover the car on his PAP and include his business as an additional insured, thus saving on his company having to buy a BAP.…
