Homeowner Personal Property coverage for boat parked on property - what's that about?

[Jerry_NJ]

As this forum is about restoring and insurance is a way to fund restoring I decided to post this here. I am happy to move the post to a better place if one is identified.

I have already posted here about straightening a damaged aluminum fishing boat (14', very small) hit by hurricane Sandy that hit NJ/NY etc., in late October 2012.

I have State Farm Homeowner insurance that provides for protection of "personal property" in addition to the house and any other building listed in the policy. My agent said the personal property may apply to the damage my fishing boat suffered while it was parked outside, in the yard, during the subject hurricane. Upon filing a claim I got a telephone call form an adjuster in less than a couple of hours - good service there. He asked a number of questions and asked that I provide some pictures and written explanation on my losses, this can be done via email and attachments.

Before another hour had passed, and before I went to the trouble to take more pictures (I already have a few) I got a follow up call from the adjuster who said he had read my policy and it does in fact NOT cover damage to personal property just parking in the yard... it applies to personal property protected by some (insured?) structure. I was disappointed but didn't argue. However, I am looking and may have to ask for a copy of my policy - there was no policy contained in my last renewal notice. Seems a little strange as I told both may agent and the adjuster the damaged personal property was outside (not in a protective structure) and was hit by pine trees blown over (snapped off by) the Sandy storm. I am thinking I need to get a copy of my policy and read the coverage limits and limitations myself.

What's the best way to get a copy of my policy, guess I can call my agent. I may have one on file, do others have copies of their homeowner policy?

Anyone have experience along this line?

 

[Bamaman1]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Most houses in this world have no garage or protective structure. I find that very petty behavior.

On my old policies, they would cover little, cheap boats and small utility trailers for maybe $1K. But more expensive boats need their own insurance, obviously.

My neighbor's an independent adjuster, and he hasn't even been home since the the hurricane--many, many weeks. Adjusters are still double busy, and I can see where an adjuster would fart off a claim on a little item of relatively little worth--hoping you'll go away. You should read your own policy, as they're now written in pretty clear language.

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Thanks, I'll ask my agent to give me a copy of the policy. The fact that I have filed and been rejected should restart whatever clock is running to be too late to file.

I decided to file when I talked with a neighbor who said he had a shed and some fence, and a pool cover damaged. The insurance adjuster waived the deductible and the full amount was paid to him in a few days. This is what encouraged me to file.

Yes the adjuster, I hadn't considered and "independent" who must be working on commissions and kick-back on rejections might be handling. I've had homeowner with State Farm for over 30 years, even the same agent... I have never filed a claim.

When I talked about my claim with the adjuster I told him the boat and tractor would not be a big cost, I'd guess well under $10,000 (I've be happy with $3,000 especially if the $1,000 deductible was waived). He went on to say that some allowance for getting the trees off of covered personal property. I thought good, maybe I'll get at least a few hundred $$ to help pay someone to move a few big pieces. Funny he'd mention that only to later read my policy and say "not covered". He may have been told by some internal review process that was the answer. If I appeal I'll start with my agent.

 

[colbyt]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

I can only address a couple of your items.

I have State Farm and also rentals insured through a different company. Neither sends out a new copy of the policy on a regular basis. You have the initial policy and they send you pages to add when something changes.

I am not aware of the "protective structure" clause though it may well exist.

My understanding is the SF covers you for liability purposes only and only on boats that are under 21 feet and 25hp. I did not and do not think that I have any insured protection for loss or damage to the boat or trailer. I might be wrong.

Due to the volume of claims they might be using independents but as a rule they only use company employees.

 

[Jeep Man]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Sounds like your insurance are trying to weasel out of the claim. Your property insurance is for YOUR property, not what THEY want to cover. I had my outboard stolen two years ago. It was removed from the boat while it was stored beside the cottage, uncovered and in the open. I had no boat insurance at the time. It was covered minus the deductible.

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Thanks, I'll get a fresh copy of my policy and see if I can read/understand well enough to fight or shut-up. There is not doubt in my mind the person who answers the phone at "my" agent's office (he never answers the phone) answers questions all day long and it was her opinion that I was covered, she triggered the claim process which resulted in me being contacted by an "adjuster". He was extremely polite, more "grateful" for my business than I would expect... may be a sign of a contract/independent agent hired by State Farm to deal with the large volume of claims filed due to Sandy.

 

[KennethfromGA]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Wasn't it State Farm that got sued for paying an outside engineering firm to write up wind damage as flood damage in the aftermath of Katrina? Just sayin

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Ken,

Thanks, yes I see from a correspondence that the "adjuster" is an "independent", i.e., hired by SF to handle the high load here in NJ/NY/Etc.

I have requested policy documentation form my agent, and have advised the adjuster by email of my investigation of a possible appeal of his ruling. I may have indicated during his telephone call to deliver the rejection that I am the passive type, and he may have put the claim in the "round file"... but I suppose he gets a fee (maybe a bonus) for processing a denial..and so there has to be a record.

 

[dorelse]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

I have not had good luck with independent adjusters...I would discuss with your SF agent directly. Usually the people working for the agent are themselves very knowledgeable, so I'd continue on a path directly through SF. Especially if you've been a 30 year customer.

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Thanks for the advice, I will seek a discussion with my agent, who has been with SF longer than I've been a customer... he has got to retire soon.

When I explained my loss to the SF office staff she had no reservations about a claim on my Homeowner Personal Property coverage. That leads me to believe that the policy isn't all that clear as surely she has seen this type claim before. I think SF has lost a lot of money in paying out storm damage claims from Sandy - they may be playing "hard ball" to reduce the big hit their reserves for payouts.

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

I have to wait for the rejection notice and the official State Farm policy information. But, talking with a retired State Farm agent I know he said his recollection is SF homeowners is specific on covering 18 perils for personal property. So, to be covered the problem has to be caused by one of the named perils, and it must be considered personal property.

I couldn't find any thing more specific on the State Farm web site but I did find under some general information the statement of what is normally not considered as covered as personal property: •Automobiles, recreational vehicles and trucks. Of course my cars and trucks are covered by their own policies. I do not consider a boat a "recreational vehicle" but SF might. I think key here, assuming it applies to SF, is a vehicle has wheels, not a hull. I'll look up in Websters.

 

[Outsider]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

It's amazing what one finds, or doesn't find, when actually reading the policy. Lots of edumacation going on since Sandy ... :facepalm:

 

[colbyt]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

I do not consider a boat a "recreational vehicle" but SF might. I think key here, assuming it applies to SF, is a vehicle has wheels, not a hull. I'll look up in Websters.

I am truly sorry about your damages but what would a boat be if it isn't recreational? In the glossary of the policy the term will be defined as a legal term for policy purposes. No lawyer cares squat about Websters, that is why they include a glossary.

I do sincerely wish you well. I hope you collect.

 

[Jerry_NJ]

Re: Homeowner Personal Property coverage for boat parked on property - what's that ab

Yes, I am sure the insurance company, I think SF is one of the largest, has spent millions on language to be sure they are clear in what they cover and don't cover. I'll look for (even ask for) a SF glossary of terms. That would make it much clearer.

My lost is trivial compared to my neighbors closer to the shore. But I get attached to inanimate things (my basement, shed, garage is full of them), the boat is among them. I may try to repair it, but I have (subject of another thread) purchased an replacement on the used market, so I am not "boat-less" : ) Assuming I can dispose of the damaged boat at no cost I have capped my financial loss (less what it cost me in time and $$ to clean up all the downed trees) to the cost of my replacement (then there's the damaged yard tractor, that isn't a recreational vehicle - but SF may consider it a farm vehicle and thus not covered by my residential policy).