No ATV is covered under homeowner's insurance, which I told him in another thread. It is covered by special lines insurance, or ATV insurance, which he didn't have.Why are they saying they won't cover it? Was the barn locked? Were the keys in the ATV? Was the ATV worth an amount which should have had it under an additional rider?
I never thought insurance would cover prior acts. Sorry if I led you or OP to believe that! And I hate when people post in more than one thread.No ATV is covered under homeowner's insurance, which I told him in another thread. It is covered by special lines insurance, or ATV insurance, which he didn't have.
You can't buy insurance after the fact. It won't cover prior claims. If that was the case, people wouldn't buy insurance until after they've been involved in an accident, or been diagnosed with some horrible disease.
They may have. However, MANY people get the insurance policy started, to get the vehicle, then don't pay another bill.I’m surprised the loan company did not require he have insurance for loss if the ATV was used as collateral.
And then they complain when something happens and they have to continue paying for something that they no longer have.They may have. However, MANY people get the insurance policy started, to get the vehicle, then don't pay another bill.
Homeowners' Insurance specifically excludes the ATV as follows;
PROPERTY NOT COVERED
Motor vehicles or all other land conveyance nor vehicles or conveyances NOT subject to motor vehicle registration, UNLESS used to service the Insured's Residence or assisting a handicapped person.
I thought about that too, but then the OP may have bought it with a credit card.I’m surprised the loan company did not require he have insurance for loss if the ATV was used as collateral.