Most insurance agents “could write a book” about some of the choices consumers often make about their insurance protection. A prime example is the small commercial insured that has his company purchase an auto, which he then leases to himself (for a nominal fee). See any problems here?
We find that often there is a misconception that listing someone as a driver on an auto policy automatically makes them an insured or that someone is not an insured because they are not listed as a driver. The reality is that the policy language is what governs and listing as a driver is more…
A PAP customer’s engine was damaged by water in the fuel. The adjuster has tentatively denied the claim, citing the wear and tear and mechanical breakdown exclusions. Do you agree? If not, what argument do you make to get this claim covered…if it should be covered?
A homeowners insured has his auto coverage with a captive agent. His resident daughter has her coverage with a direct sales insurer. He backs into her car and his auto insurer denies the claim because their policy doesn’t cover damage to a resident family member’s car. If he was insured on an ISO PAP, would…
Your insured’s daughter had a car at college jointly titled to her and mom. Daughter has graduated and moved to another state with the auto which remains insured on mom’s PAP and PUP. In addition, daughter’s boyfriend who hasn’t yet found a job has moved in with her and sometimes drives the car. How do…
The divorce of insureds can often create problems for CSRs handling the transition of their personal lines account. However, even when a divorce is amicable, agents may be expected to provide legal advice in addition to insurance advice. This article discusses that caveat and identifies insurance issues that need to be considered, including handling joint…
Your insured declines to purchase physical damage coverage because his vehicle “isn’t worth much” and “I’m a good driver.” His vehicle is totaled by another vehicle whose insurer denies liability. What now?
On June 26, 2015 in Obergefell v. Hodges, the U.S. Supreme Court in a 5-4 decision ruled in favor of same-sex marriage. So what does this mean for you and your customers? Specifically, what are the P&C coverage implications? This article primarily examines some personal lines issues and the companion article does the same for…
Your insured’s car is stolen. Since he only carried liability coverage, he wants to simply cancel the policy and get a return premium? At what point does his potential liability end for this vehicle so that he can cancel the policy?
As bells chime across the campus, and the familiar refrain of “Pomp and Circumstance” announces yet another graduating class, a milestone has been reached by both the graduates and their families. And as with so many of the major events in life, there are significant insurance issues that arise with high school or college graduation.
