Update on insurance question.

[RAW in]

I just talked to my agent, a different girl than before, and she said that for liability, I am covered by my homeowners insurance. I am not going to worry about collision, etc, since the tractor is not worth a fortune.

 

[BarnyardEngineering]

Liability is all I think you can reasonably expect to get on a tractor.

Now, was that a casual, "Oh yeah your homeowner's covers it," or did she actually pull up your policy and LOOK. Unless she actually looked and showed you the language in the policy where it says that, I would question her advice. "But my insurance agent said..." is not a valid defense.

 

[JMOR]

(quoted from post at 12:25:30 04/21/23) Liability is all I think you can reasonably expect to get on a tractor.

Now, was that a casual, "Oh yeah your homeowner's covers it," or did she actually pull up your policy and LOOK. Unless she actually looked and showed you the language in the policy where it says that, I would question her advice. "But my insurance agent said..." is not a valid defense.

ine home owners policy excluded business & farm operations..I had to purchase an Umbrella Liability policy.

 

[John T]

But my insurance agent said... is not a valid defense.

The FIRST thing I learned in law school when studying insurance law was READ THE POLICY THATS WHAT MATTERS
NOTTTTTTTTTT WHAT ANYONE SAID

John T

 

[RogerinIowa]

Get it in writing from the company. Not an agent.

 

[kencombs]

I've often thought about that. If(big if I know) the speaker is an official representative of the company and one had a memo or recording of the conversation, would such a conversation be a binding oral contract? The answer that seems most likely, is yes, after way too much money was spent with a lawyer to make it worthwhile. The big if is, agent, clerical employee of agent, employee of underwriter, member of management, etc, who is 'official.:?

 

[DoubleO7]

One would think the agents first answer would be NO. And then try to sell you more insurance to cover.

Or maybe they say yes so that you do not go shopping elsewhere and find out your being hosed for the insurance policies you already have.

 

[1948CaseVAI]

(quoted from post at 12:12:55 04/21/23) I've often thought about that. If(big if I know) the speaker is an official representative of the company and one had a memo or recording of the conversation, would such a conversation be a binding oral contract? The answer that seems most likely, is yes, after way too much money was spent with a lawyer to make it worthwhile. The big if is, agent, clerical employee of agent, employee of underwriter, member of management, etc, who is 'official.:?

No insurance company is likely to allow any agent or employee of an agency to bind the company with anything other than an official policy document. If the agent creates a verbal "binder" with you, the binder is with the agent not the company he sells for.

 

[BarnyardEngineering]

(quoted from post at 10:47:29 04/21/23)
One would think the agents first answer would be NO. And then try to sell you more insurance to cover.

Or maybe they say yes so that you do not go shopping elsewhere and find out your being hosed for the insurance policies you already have.

The agent's initial response was no, and we don't sell any insurance for that.

 

[John T]

Typically the contract specifically states something to the effect WHATS HERE IS ALL AND THE ONLY THING THAT MATTERS AND NO ORAL STATEMENTS ALTER SUCH OR CAN MODIFY WHATS HERE

Obviously that's NOT legal ease or correct but just to give you an idea. While oral contracts can indeed be binding, doctrines such as the Parol Evidence Rule, the Four Corners Doctrine, Freedom of Contract etc etc render insurance contracts almost sacred

Im NOT saying there cant be exceptions Im ONLY saying insurance and contract law is long and well settled and its hard to beat out or offset the language in an insurance contract THEY ARE EXPERTS AT THIS moreso than other attorneys.....Even if you had a recording saying something different than the contract its hard to win. There would have to be several mitigating factors such as justifiable reliance and all other sorts of end runs. YES oral contracts can be valid but hard to set aside a writing

John T This is NOT correct or accurate ONLY some basic recollection from yearssssssssss ago NO WARRANTY Again one of the first things in Insurance Law WHATS IN WRITING IS ABOUT ALL THAT MATTERS

 

[37 chief]

My insurance agent told me all my equipment should be inside. Now, I have State farm. So far no problems. stan

 

[old-9]

There are specialty insurance companies one is Hagerty Insurance. I learned about them at car shows. I have them on my 64 F100. Many independent agency's write for them or you can get a quote on line. I am happy with them.
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