Ask Tim

​Question from a BINY member: “We had an insured who called yesterday to add her boyfriend/domestic partner to her homeowners policy as a named insured. My first reaction was that cannot be done as the boyfriend has no financial interest in the home which I explained. They pushed the issue and kept telling me it could be done (per another agent). I called our company underwriter who advised – you can add a domestic partner as a named insured to a homeowners policy. How is this okay if the second named insured has zero financial interest in the home and is not on the deed?…

​It's October, which means Hallow​een, which means people who enjoy being terrified are flocking to haunted houses and similar attractions. Have you ever thought of trying to write the insurance on one of these places? What coverages do they need? What are their loss exposures? In this chilling video, I discuss these topics in a way that is not at all melodramatic. [embedded content]  ​​​​Source

I'm told that today, July 18, is national Insurance Nerd Day​. I had no idea. The Hallmark people must have forgotten to print cards for the occasion this year. I will take that matter up with them later. In the meantime, because it is a slow news day Insurance Nerd​ Day, I have been begged bribed threatened asked to pen a few words about this revered date on the calendar.What is an insurance nerd? How do you know if you are one? Well, if you didn't figure it out when you entered kindergarten, here are some signs. With apologies credit to that famous American philosopher Jeff Foxworthy​,…