We were storing our ATV at the home of a family member when it got stolen. We didn't have insurance on it at the time and we want the family member's homeowners insurance to replace it. They are saying that they won't replace it. Shouldn't they replace it since it was stolen from their insured's property?
2007-09-05 08:42:34 · 7 answers · asked by Anonymous in Business & Finance ➔ Insurance
If you did not have insurance on it yourself, the other persons policy will generally not cover it unless somehow they had the ATV listed on the policy, which is doubtful. I would read through the policy and look for anything regarding "Property of Others". Chances are you will not find anything, but this is your only chance to have this covered. In the future, do not rely on others to take care of your property and to keep it insured.
Good luck!
2007-09-05 09:22:12 · answer #1 · answered by Jason S 4 · 0⤊ 0⤋
If you were worried about theft, you should have had insurance on your ATV. It's really doubtful that the other person's insurance will pay. And you can't make them pay if it's not covered in the policy. Of course, this depends on the policy itself, but like I said it's really doubtful. And why should they? Just because it's not at your house doesn't mean it's not your responsibility to have the right coverage on it. Take it as a lesson learned and if you decide to buy another ATV, make sure you properly insure it.
2007-09-05 09:02:53 · answer #2 · answered by My Pits A Lover Not A Fighter 5 · 0⤊ 0⤋
Not if either (a) the policy excludes vehicles, or (b) the policy covers only property of the insured, not property of others. I know that the insurance of a company that owns a parking lot does not cover cars that are stolen from that parking lot.
2007-09-05 08:48:59 · answer #3 · answered by StephenWeinstein 7 · 1⤊ 0⤋
If you didn't have THEFT COVERAGE on your atv, why would you expect it to be covered? It's NEVER covered under a homeowners policy - not yours, not theirs, not mine. If they didn't steal it, they aren't responsible to REPLACE it.
Just like, if I park my car in YOUR driveway, and it gets stolen, do YOU have to buy me a new car? Just because it was in your driveway? Of course not! And homeowners doesn't cover it, either!!
But I'm sure they won't do you the favor of storing something for you again.
2007-09-05 12:03:50 · answer #4 · answered by Anonymous 7 · 1⤊ 1⤋
Depends on what the family member's policy says - but for most policies, this would not be covered unless it was stolen due to negligence by the family member.
2007-09-05 08:49:03 · answer #5 · answered by Judy 7 · 0⤊ 1⤋
No. That's not how it works.
2007-09-05 08:50:24 · answer #6 · answered by Anonymous · 0⤊ 1⤋
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2007-09-05 09:49:05 · answer #7 · answered by Andrew 1 · 0⤊ 1⤋