I drive a company vehicle. I recently had tools stolen from the vehicle. does the insurance policy cover this.
Total Comments: 11
Posted: Mon Aug 02, 2010 04:22 pm Post Subject:
There are no true "standard forms" when it comes to inland marine policies
Not THAT is the truth! I can't tell you the number is times I've said, "I would have never thought to look under the IM policy to cover that!". I've seen _listed_ covered items such as "Electrical Supplies". Now someone tell me how to define "electrical supplies". The Contractors and Equipment form covers "tools" specifically. What is a "tool"? Another section covers "spare parts". But as Max mentioned, forms are different for each company. That is, while many of the forms are standardized, there are probably thousands of them that can be used.
For coverage a Contractor Tools and Equipment form can offer great coverage but for an adjuster they can be a real pain in the butt. Many times I've had to call the underwriter and/or agent and asked them what they wanted to cover with the form.
Posted: Mon Aug 02, 2010 04:22 pm Post Subject:
There are no true "standard forms" when it comes to inland marine policies
Not THAT is the truth! I can't tell you the number is times I've said, "I would have never thought to look under the IM policy to cover that!". I've seen _listed_ covered items such as "Electrical Supplies". Now someone tell me how to define "electrical supplies". The Contractors and Equipment form covers "tools" specifically. What is a "tool"? Another section covers "spare parts". But as Max mentioned, forms are different for each company. That is, while many of the forms are standardized, there are probably thousands of them that can be used.For coverage a Contractor Tools and Equipment form can offer great coverage but for an adjuster they can be a real pain in the butt. Many times I've had to call the underwriter and/or agent and asked them what they wanted to cover with the form.
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