There is "watercraft liability" for engines/motors owned by an insured, if the total horsepower of the outboard engines/motors is greater than 25 total horsepower and acquired during the policy period. ISO defines hovercraft as a self-propelled motorized ground effect vehicle and includes, but is not limited to, flarecraft and air cushion vehicles. However, flooding due to external conditions is much the same as earthquakes. The deductible is the amount the insured party has to pay when a claim is made. Knowing what's covered and what isn't can save you a lot of money and heartache down the line. All policies have deductibles before coverage of your residence's structure and the property inside it kicks in. There is no "watercraft liability" if the involved watercraft is rented to others, used to carry personal or cargo for a charge, or used for any "business" purpose, such as entertaining business clients or fishing guide excursions. If you own a watercraft, your policy will typically provide up to $1,000 of coverage if it's stolen from your home, but will not cover theft from another location. Since model or hobby aircraft are not considered aircraft, unless they are designed or used to carry people or cargo, there is liability coverage for this exposure. The ISO PAP can provide liability coverage for a non-owed golf cart, so an insured could get liability coverage under both their homeowner and auto policy. It may be accurate to say a majority of homeowners do not have a hovercraft exposure, but Google has hundreds of listings advertising personal hovercraft raging in price from under $10 to over $50,000. Expenses incurred due to identity theft are also not included, but you can purchase this coverage as an endorsement. You are definitely at risk regardless of your current financial status. Does Homeowners Insurance Cover Renovations? The defense coverage ceases once the damages have met the policy liability limit. If you live in certain regions that are high-risk for these or other types of natural hazards, you’ll want to be sure to inquire about special, separate types of catastrophe insurance, like windstorm or flood insurance. © 2020 Dean & Draper Insurance, L.P. All rights reserved. All Rights Reserved. There is no "watercraft liability" for an inboard or inboard-outdrive that is owned by an insured. Injuries or damages sustained by you or a family member in your home. All perils except flood, earthquake, war. Examples of other potential covered loss might include: Personal Liability coverage is broad and it does not cover the following: Carrying adequate Personal Liability Limits is perhaps the most commonly passed over coverage on a Homeowner policy. Standard homeowners policies cover a wide range of potential disasters, from tornadoes to lightning strikes to winter storm damage. and c. above, any ensuing loss to property described in Coverages A and B not precluded by any other provision in this policy is covered. Additionally, if your home should suffer a power outage, things like food spoilage are not covered under a standard policy. Personal Liability provides coverage for bodily injury and property damage claims (other than vehicular related) which you are liable, thus helping to protect you against large financial losses. Flood insurance, which also includes mudflow, must be purchased as a separate policy and is available only through the government-run National Flood Insurance Program. Higher liability and medical payments - Liability for the medical expenses of third parties and legal bills for defense against claims can be astronomical. Businessowners liability coverage automatically includes all of the following liability coverages EXCEPT: Which of the following exclusions would specifically fall under Coverage E?