Dotted across newspapers and social media are recent events that have divided the nation. Protests glorifying white nationalism, counter-protests, and a random act of anti-Semitism toward a nonprofit Holocaust museum have highlighted the unfounded hatred, as well as the resulting harm associated with vandalism.
Saddened along with the rest of decent Americans, the insurance industry turns its attention to the need for insurance to protect against these acts.
For average business owners, nonprofit executives, homeowners, renters, and car drivers, the issue is a burning one. Will the indemnity that exists protect one from “intentional and malicious destruction of property”?
If those who caused the damage are not found or identified, your insurance will cover the cost of repair or replacement, depending, of course, on whether the damaged property is covered.
First, let’s examine a standard homeowner’s policy.
In general, a standard homeowners policy can protect you from damage from civil disturbances and vandalism. This is because property and liability protection is included. The only remaining exclusion is if your home has been vacant for sixty-one days or more.
Second, comes the business owner’s coverage, or nonprofit organization’s insurance policy.
Standard policies cover the following:
– Your building
– Any accessory located inside or outside the building.
– All machinery or equipment permanently installed
– Outdoor furniture
– Floor coverings
– Appliances, such as a refrigerator, a dishwasher, a clothes washer, a clothes dryer, fans, etc.
– Indoor or outdoor business personal property, such as a car or truck, that is within 100 feet of the building or closer.
For the business owner who experiences a loss of income due to property restoration or replacement, the policy includes business income coverage. This means that there will be reimbursement for lost income or business maintenance, such as payroll payments, utility payments, mortgage payments, and rent payments.
Finally, auto insurance will cover you for vandalism IF you have the proper form of coverage. A comprehensive policy covers restoration and replacement charges if your vehicle was damaged in a protest or other non-collision event. Keep in mind, however, that without the comprehensive plan, regardless of any liability, collision, PIP, or uninsured or underinsured auto policy you may have purchased, you will not be covered for anything unrelated to a car or other vehicle accident. .
For more answers to any questions about vandalism and how it correlates to your insurance coverage, talk to an experienced independent agent.
