When merrymaking goes awry

With most homeowners’ policies, trees, shrubs, plants or lawns require standard additional coverage, but fire is a covered peril. No more than $500 is paid for any one tree, shrub or plant, and the coverage limit is 5% of coverage A.

But you asked IF the insured should file a claim, and that’s a different question. Unlike auto policies, there is no fault component. So in most cases, each claim counts against the insured. The insured needs to weigh the amount of damage against the deductible and his claims history. If the damage isn’t too bad, he may not want to file a claim. Underwriting will reject policies for claims frequency, even if the claims are small. Frequency is as important as severity when you’re talking to underwriting.

Employees, even seasonal employees, should always notify their employer of any work-related injury. This injury happened during the course of employment and therefore meets the qualification to apply for workers’ compensation benefits. The lot may or may not be required to provide coverage depending on the state and the number of employees. You can check with the state to verify whether an employer is required to carry workers’ compensation.

If an employer is not required to provide workers’ compensation, your client should turn to his own health insurance plan.

In this situation, if your client is injured at a company’s holiday party, he will need to file a general liability claim with the company’s insurance carrier. The company should carry Medical Payments (Coverage C) which provides a limited amount of medical payments coverage regardless of fault. If the company is negligent, the general liability coverage (Coverage A) will pay for any bodily injury sustained by your client while he was at the company’s holiday party.

The medical payments section of the policy will provide coverage for any medical expenses incurred by the caroler. As long as the caroler was on the insured’s property with permission, coverage for injuries is available.

Auto policies are designed to provide coverage for damage to the auto whether from an accident or act of nature such as hail, falling trees, etc. While other than collision provides coverage for theft of the vehicle, theft of personal property from a car is different, because the property is not automobile equipment attached to the auto.

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If the vehicle was broken into and the radio was stolen, the auto policy would provide coverage for that.

For personal property such as gifts, however, the insured needs to look to the homeowners’ policy for coverage. Theft of personal property is covered anywhere in the world, including in the insured’s vehicle. However the insured should weigh the cost of the items against the deductible on the homeowners’ policy to determine whether it is worth filing a claim.

The laws of cancellation notification vary by state. Most states require that the insured be given a certain number of days of notice before cancellation takes effect. If you make your payment within that time frame, your policy can be reinstated. If your payment is made beyond that date, your policy cannot be reinstated to cover the loss. Carriers are particular about such things.

See also: 6 do’s and don’ts for your company’s holiday party