Thursday, July 8, 2010

When on The Go... How Your Homeowner Liability Insurance Follows You

Homeowner liability insurance provides financial protection against legal obligations of the insured arising out of activities and conditions at the premises where the insured maintains a covered residence.

This coverage also extends to a personal activities of the named insured and household members anywhere in the world. You are on vacation in Europe- you’re covered; your child is on a mission trip in Mexico- you’re covered.

The homeowner policy defines an insured location as:

  1. The qualifying residence premises where the named insured resides and which is shown as the residence premises described in the declarations.

  2. The part of the premises used by the named insured as a residence and shown in the declaration, such as a seasonal residence.

  3. Any premises used in connection with a residence as defined by one and two above.

  4. The part of any premises not owned by an insured where the insured is temporarily residing. Examples would include a hotel room or vacation condo.

  5. Vacant land, other than farmland, owned by or rented to an insured. Vacant land is generally defined as land upon which no man-made structures exist. An exception to this is land owned or rented to an insured on which a one to four family dwelling is being built as a residence for the insured.

  6. Burial plots or vaults of an insured.

  7. The part of premise occasionally rented to an insured for other than business use. An example would be a rented hall for a wedding reception.

An insured is defined as the person named in the declarations; that person’s spouse, as long as a resident of the household; relatives residing with the insured at the residence; and persons under the age of 21 and in care of the named insured, spouse or resident relative. This would include foster children or children for which the insured has guardianship.