My Dad had water backup included on his policy for 35 years, then it was discontinued and made an additional policy. My Dad was unaware of this change.
They had it typed on the renewal but never spoke about it to my Dad or asked him if he wanted it. Is this error and omission?
Answers | 4
It would be rare for an experienced agent to miss this coverage or to take the risk or want to deal with the hassle if there were a claim without this coverage.
If our agency represented a company that changed this important policy coverage we would have contacted our clients.. We don't sell policies without water backup coverage unless the insured signs off - which is rare - they generally don't go without the coverage because we show the value or get at least some sort of coverage amount.
When people find out how inexpensive it is for the coverage - they'd be very mad and/or sad. We'd rather lose the business than deal with those types of claims issues. It could be too much of a headache for everyone.
I would have him call his agent and ask her/him about it. Insurers would have sent sort of notice of the policy change at the very least.
It is true that you should consult an attorney, but most attorneys are not fully versed in complicated matters of insurance unless it is their specialty. Attorneys all have different fields they specialize in so be careful not only of insurance agents but of attorneys as well.