An agency is trying to come up with a streamlined, simplified summary of how the ISO homeowners policies respond to various types of losses involving trees. What coverage is there for the trees and for what perils and limits? What coverage and limits are provided for debris removal? Is there a deductible and how does it apply?

 

Trees are covered as property only if damaged by fire, lightning, explosion, riot or civil commotion, aircraft, vehicles not owned or operated by a resident of the “residence premises,” and vandalism or malicious mischief or theft. There is a per tree sublimit, with an aggregate limit based on a percentage of Coverage A.

 

For trees damaged by one of the seven perils, this sublimit includes debris removal expenses. An additional 5% of that limit is available for additional debris removal.

 

For trees damaged by other perils such as windstorm, the policy pays another sublimit so long as the tree damages a covered structure or blocks a driveway or handicap assist ramp. If a tree simply is blown down in the yard, nothing is payable for debris removal.

 

To access the complete analysis, visit the Big “I” Virtual University.

 

As every personal lines veteran knows, virtually every major event or activity that involves a family will usually have some impact on their insurance. And the Christmas season is no exception. Many of the gifts given to kids these days have insurance implications of which the family, and their insurance agent, should be aware.

 

A partial list includes bicycles, tricycles, scooters, roller blades, skateboards, battery-powered “kiddie cars,” ATVs, radio-controlled vehicles, watercraft and aircraft, mopeds, motor scooters, motor bikes, go-carts, golf carts, kayaks, canoes, surf boards, “boogie boards,” wind surfers, inflatable rafts, jet skis, gliders and kites.

 

Are you aware of the insurance implications of these “toys”? Ready for a little account development? Then check out the full article.

 

Mae West said that marriage is an institution, and she wasn’t ready for an institution. Apparently an increasing number of Americans aren’t either.

 

In 1950, almost 80% of households were occupied by married couples. Now that number is about 50%, with the balance being unmarried couples and singles. According to the most recent U.S. census, the number of unmarried couples living together comprises at least 10% of households.

 

In other words, the chances are that at least 10% of your homeowners book involves non-spousal couples. This raises the question: Do you have the proper coverage in place to protect both parties? How is their homeowners insurance structured?

 

Visit the VU to read two comprehensive articles on this issue.