When property that is damaged is subject to a policy sublimit, does the deductible apply to the loss or the sublimit? This is an age-old question, but it recently came up in an auto insurance claim. In this article, we’ll present examples from both auto and homeowners to demonstrate how it works.
On October 4, 2009, while I was visiting my parents in Vero Beach, at 4:32 a.m. my cell phone rang and the caller ID showed it to be my daughter. I knew it was not going to be a good call at that time of day. She said, “Dad, my apartment building just burned to…
Gift cards have become an increasingly popular form of giving for Christmas, birthdays, and many other occasions. Each year, BILLIONS of dollars are spent on gift cards, many of which are never redeemed. If a gift card is lost or stolen, is there any coverage for the lost value under a homeowners policy?
The HO 04 60 covers acquired jewelry (for a sublimit) if reported within 30 days. If any insured buys jewelry on March 7 but doesn’t pick it up until April 3, when does the 30-day coverage period start? If the jewelry is stolen on April 23, is it covered up to the sublimit?
