Quote:
Originally Posted by fastfredracing
I am sitting home reading my policy front to back. Am I out of line calling this old tow truck business personal property?
Its worded pretty simply
(4). Personal property , owned by you that is used to maintain or service the buidling or structure, or its premises .
My business property consists of the following property (2) machinery and equipment . (4). All other personal property that is owned by you, and used in your business.
I am a sole proprietorship , the truck is titled in my personal name .
Property not covered:
p. Vehicles , that are self propelled machines ( including aircraft, or watercraft)
that :
(1). Are licensed for use on public roads . ( it is not )
(2). Operated principally away from the described premises . ( it is also not, this truck is strictly a lot truck to move disabled vehicles around the lot .
I'd like to hear your thoughts on this. Thank you
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I can see how you feel the way you do when you pull certain clauses out. But a policy needs to be read in it's entirety. Because in one place they give you coverage and in another they take it away. Someplace in there is a clause something to the effect "unless a more appropriate coverage is available".
The trucks is intended to be registered and driven on public roads. That's it's intended use. As opposed to say a quad that is intended for off road use and not to be driven on a public road. The quad would be personal property.
Again, I understand your thought and how you were using the truck, but you were using it in a fashion in which it was not intended. The insurance companies position is, it is a vehicle intended to be registered, tagged and driven on public roads, therefore commercial auto insurance is available including comprehensive (that covers the tree falling on it) and it should have it's own policy.
They can over ride that clause by agreeing to endorse the policy to include the truck but they would do that only by endorsement in writing. And of course that would need to happen before the occurrence.
Here is my real concern for you. This is an excerpt form your first reply to me.
"It was not registered, or insured at the time of the incident. Why would it be , I was not driving it , and what could possibly happen??" Now we know a tree can fall on it for one. But what about liability? What if someone were hurt? I am concerned it is an attractive nuisance. If a minor were to get injured or anyone you will be paying out of pocket for defense costs. If found liable for the injuries (which you would if it were a minor) you will pay the damages out of pocket as well.
BTW- the statement I highlighted above clearly indicates you knew it was not registered or insured because you weren't driving it and not because it was a lot truck you thought was insured as personal property. That indicates to me it was insured as a motor vehicle but was now uninsured because you weren't driving it. Probably because of the overhaul.
Get it insured before someone gets hurt and you have real problems.