Dear valued customer;
With the rainy season upon us, we feel it’s a good time to re-address this very important issue; Where insurance companies exclude claims that arise from normal wear and tear and/or improper maintenance. Sometimes we think “Well, I’ve been paying all this money every year for insurance, therefore, I should be covered on any claim” unfortunately, this is not a valid argument. ALL insurance companies exclude these type of claims which arise out of normal wear and tear and/or improper maintenance. Examples of excluded wear/tear claims and improper maintenance claims: • Monument sign blew down and fell during heavy wind storm – after the insurance company did their investigation, they determined that the reason the sign fell was due to the fact that the base of sign had severely rusted and deteriorated over the years. And if it was maintained properly, it would not have fallen down. The insurance company declined coverage. • Water pipe burst underground and caused severe damage – after the insurance company investigation, it was determined that the reason the pipe burst, was due to it being old and corroded. So the insurance company declined coverage. • During a heavy rain storm, water ran down the inside wall of the mini mart and did damage to walls and equipment. When the insurance company completed their investigation, they found that the drains on the roof were plugged, which then allowed the water to build up and spill over the water proofing material causing the leak inside the store. It was determined that if the drains were maintained properly and kept clean, this damage would not have occurred. The claim was declined. So, what’s the moral of this story: Make sure to check and clean those gutters periodically, also check all your property periodically, and repair anything showing significant wear/tear BEFORE you find out the hard way and have your claim denied to due avoidable negligence. We hope you find this information useful. If you would like to add any thought to this subject, or have any suggestions you would like to know about for future newsletters, we would love to hear from you. Your input is always welcome and appreciate.
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Greetings to All,
Yes, the rains are coming! Rick and I always hated this time of year, why, because we knew we had to run over to our Dad’s small commercial building in Pasadena and clean the gutters of all the berries, leaves, etc. It was dirty, messy and we never enjoyed it. The reason we bring this up is because on your current Insurance Policy there is NO COVERAGE for “wear & tear”damage or claims arising out of poor maintenance. So if you are not doing annual cleaning and inspecting your canopies, outdoor fuel signs, and outdoor light posts, you may be shooting yourself in your foot. We have had numerous claims over the years. For example; a sign post blowing down by the wind and when the Insurance Company inspected the post they found the bracket and bolts that attached the post to the ground were rusted and corroded. Therefore, they declined paying the loss due to poor maintenance. So clean those gutters, scrape the rust off & repaint the bolts and brackets. Keep in mind that a lot of your signage / posts are in areas on or near plants and planters, which of course requires watering the plants, and this speeds up the damage to the brackets and bolts. So keep those gutters clean and repaint Thank you and please do not hesitate to call our office for any questions you may have. |
RKM Insurance AGENCY
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