Drones, hoverboards and drivable electric vehicles for kids were hot items for Christmas. Be aware of potential insurance issues with their use.
Some homeowners and renters insurance policies may not provide coverage for injuries or damage to property of others while using your new high-tech toys. Many, but not all, home insurance policies cover the operation of model aircraft which are not used to carry cargo. Most home policies do not cover “motor vehicles”, except in very limited situations. Some policies have an age or speed restriction on “motor vehicles” and also specify that protection may only apply while they are being operated on your premises. Since both hoverboards and electric vehicles are powered by electric motors, they may fall under the definition of “motor vehicles”.
According to Craig Thompson of Professional Insurance Programs:
“Injuries and property damage do occur so consumers are encouraged to contact their professional insurance agent to be sure they are properly protected. Homeowners policies, renters policies and personal liability umbrella policies should be reviewed with your agent.”
The safety and insurance issues surrounding drones, hoverboards, kids vehicles and other exciting new toys are a good reminder to have your insurance protection updated periodically. Does your agent know about the new toys, guns, artwork or jewelry you have acquired since your last review? These issues also highlight the importance of a personal liability umbrella policy.
For more information or to review your current policy you can contact Craig at 414-755-4168.