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The Royersford Insurance Agent

Why Insurance won’t cover this man’s $1400 television


There is nothing worse than telling someone they may not have coverage for a claim.  It is seriously the worst.

But what makes it even more unbearable is when there could have been coverage.  It’s one thing if there is no way any insurance company in the world would pay for a claim.  As an agent, you know there was nothing that could be done.

Some claims are just always denied and there is very little you can do about it.

But sometimes, like in this case, coverage would have been available had our friend had the right endorsement.



Are You Ready For The Digital Transition? Oblivious Dude via Compfight


What is an endorsement?

An endorsement is something you add to an insurance policy that provides additional coverage.

I write a lot of Homeowners insurance policies with Travelers Insurance.  That is our agency’s number one company.   About 10-15 years ago Travelers came out with a program called Quantum.  Without getting into too much detail, Quantum is basically a new insurance product.  Within Quantum, there are different packages (Silver, Gold, Platinum and Platinum Plus).  These different packages offer different levels of coverage.

Silver and Gold are pretty basic policies with not many bells and whistles.  Platinum Plus is for homes with a Dwelling Coverage over $500,000.  This is not the market value of a home/property but the actual replacement cost of the building itself.  You can read more about that here.

We only ever write Platinum and Platinum Plus on any new Homeowners policy.  For the most part, all of the coverages and endorsements you need are found in these two packages.


Older Policies

Our agency has been in business since 1922.  So we have several clients who have had policies long before Travelers introduced Quantum.  Unfortunately, some of these older policies don’t have some of the endorsements that are included in the Platinum program.  This is the case with our friend with the new TV.

His policy does not have the endorsement that would cover the TV involved in this claim.


The Claim

Here’s what happened. Part of the client’s bedroom ceiling fell down and hit the screen of his 2 month old $1400 television.  The TV is now not turning on.  The TV is considered personal property.  Without an endorsement, Personal Property is not covered by falling objects (including objects that are part of the house).  The only exception to this is if the falling object first made an opening in the house and then caused the damage.

So if a plane crashed into his house and hit the TV, he’d be good to go!


How could it have been covered?

The Platinum package on the new Travelers policies come with the endorsement that provides coverage for this type of thing.  Unfortunately our client has an older policy and does not have that endorsement.  So in order to get coverage for his personal property for this type of claim he would have needed the Value Added Package Plus (or 58065) endorsement.

This endorsement basically provides coverage for causes of a Personal Property claim that are normally excluded.


What should you do?

You should contact your agent and ask them if you have this endorsement.  Value Added Package Plus.  Ask them if you have “All Risk Coverage” on your Personal Property.  All Risk Coverage, which is what the endorsement provides, doesn’t mean there is no chance for a denial.  There are still certain things that all policies deny; wear and tear, poor craftsmanship, etc., but All Risk basically mean that your claim is covered UNLESS there is an exclusion in the policy that takes coverage away.

It’s confusing, I know.  But you don’t need to be an expert.  Ask me or ask your agent to help you.  If you are uncomfortable with your agent or if you need help finding one, let me know.  I can help you find a fantastic agent in any state.  Just ask.


My name is Keith Laskey. My goal is to educate the everyday consumer and to help them make intelligent decisions with their insurance policies. Please contact me at my office, 610-948-4830 or Email Me for any insurance related questions or concerns. You can also visit the Ron Black Agency website or like us on Facebook! Thank you for stopping by, have a great day!

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