This column is devoted to some “Quick Hit Thoughts” regarding potential coverage issues that most folks are not aware of until they have a loss and are told they have no coverage. Uber or Lyft drivers are NOT covered by their respective personal auto policies while transporting riders. Homeowners that use their detached barns or outbuildings for business purposes are NOT covered under a homeowners policy. Fine arts or special antiques are NOT covered for their intrinsic value under a homeowners policy. Cash money is limited to $500-$1000 in coverage under all homeowners policies. Antique or classic vehicles need to have “Stated Value” coverage to be covered for their actual appraised value which is NOT covered under a standard auto policy. Individual health insurance has NO waiting period for pre-exsisting illnesses or injuries. All homeowners policies EXCLUDE flood and earthquake coverage. Tractors and lawn mowers are NOT covered for liability once they leave the insureds premise. These are but a few types of potential coverage issues that commonly are NOT reviewed yet should be noted that may apply to you!
Kirk Kneller, Kneller Insurance, www.knellerins.com