Is a recycle bin a “vehicle”? Does a car antenna ripping a coat fall under the Vehicles peril? How about a poorly secured wedding dress in the backseat of a convertible? If you occasionally win a biking competition, does the loss of your bike trigger business property coverage? Join Mike, Tim, and Alissha for the lightning round and discuss bikes, eBikes, sleds, boats, and more.
Notable Timestamps
[ 00:15 ] – The insured is an avid cyclist who occasionally wins money from his hobby. Another cyclist cut him off and he crashed his bike into a tree while at a park, destroying the bike.
[ 01:13 ] – Mike & Alissha share personal stories, including a disastrous encounter with a parked car.
[ 03:47 ] – The bike itself is Coverage C Personal Property as there’s an exclusion for motor vehicles, but not for vehicles.
[ 07:04 ] – There is a Named Peril for losses caused by vehicles. Courts interpret this broadly to mean anything from boats to sleds; rollerblades and recycle bins might be pushing it.
[ 09:22 ] – The force / weight / momentum of the vehicle must cause the loss. The team goes through a lightning quiz round exploring a variety of mini-scenarios on the vehicles peril.
[ 13:53 ] – Depreciation can be subtracted when the bike is replaced if it was paid under ACV.
[ 14:29 ] – Although the insured occasionally won money, that likely doesn’t qualify it as a business.
[ 15:18 ] – eBikes present novel issues due to the motor vehicles exclusion, so PLRB has prepared detailed resources on this issue.
[ 17:12 ] – Tim provides a recap of the scenario and the points above.
Your PLRB Resources
Detailed annotation on Vehicles Peril – https://search.plrb.org/?dn=151&src=gsa
Legacy podcast on “The Coverage Contrarian: E-Bike Coverage Under a Homeowners Policy” – https://www.plrb.org/distlearn/podcas…
Coverage Question on “E-Bike Excluded Under “All Other Motorized Land Conveyances” Language” – https://search.plrb.org/?dn=74811&src…
Adjuster Resource Sheet on “Analysis of Coverage for an E-Bike Accident under a Homeowners Policy” (includes a link to a 50-state compendium) – https://search.plrb.org/?DN=77489
Employees of member companies also have access to a searchable legal database, hundreds of hours of video trainings, building code materials, weather data, and even the ability to have your coverage questions answered by our team of attorneys (https://www.plrb.org/container.cfm?co…) at no additional charge to you or your company.
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Legal Information
The views and opinions expressed in this resource are those of the individual speaker and not necessarily those of the Property & Liability Resource Bureau (PLRB), its membership, or any organization with which the presenter is employed or affiliated. The information, ideas, and opinions are presented as information only and not as legal advice or offers of representation. Individual policy language and state laws vary, and listeners should rely on guidance from their companies and counsel as appropriate.
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