I’ve lost one of my earrings, can’t find it anywhere. It was an anniversary gift from my husband and I want to get them both replaced. Is this possible? “Am I covered?”

Several insurance issues are going on here but to keep this explanation simple, because you ‘lost’ the jewelery (called mysterious disappearance by an insurance company) you are covered by your policy if the earrings are scheduled or listed specifically on your policy or if you have a comprehensive form policy. But you only lost one of the earrings? Under the pair and set wordings in your policy, the insurance company will consider the loss as if both earrings were lost or in other words the claim will be based on the total value of the set.

My small dog got away from me and nipped at the ankle of a young boy riding his bike in front of my house. He fell off his bike, hurt his knee but I think he was more scared than anything else. His parents are threatening to sue me. “Am I covered?”

How many times has this happened to you as a child growing up? Many times in my world. I just ran home, had a bandaid put on my knee and went back outside to pay again. Things are different today. Once considered something that only the Americans do, liability claims are becoming quite common in Canada. And yes, you are covered in the liability section of your policy. (This did actually happen to one of our customers and settlement was $75,000.00.)

I just had a successful garage sale and collected over $1,600 in sales. I put the cash under a box, took a short break. When I got back the money had been stolen. I think I know who took it but even though, ”Am I covered?”.

I’ve talked before about Special Limits on property policies. Money / cash is one of them. All policies have a limit for money. Usually between $200 to $500 dollars is the most they would pay. And because it is a theft, you would have to report it to the police before any insurance company would classify it as a claim.

If a tornado destroys or damages my home, am I covered or is that an act of God and not covered?

We are asked this question all the time, especially in the summer storm season. First, let me say something about the idea that if it is thought to be an act of God, it is not covered. Very common phrase attached to this question about tornadoes. Weather related claims are most definitely covered in most situations. Coverage for acts of God such as earthquakes, for example, although not a problem in this part of the world, can be purchased separately. Destruction caused by tornadoes is covered for your home in all circumstances. And coverage for your personal property “if the storm / tornado creates an opening in your home”. Of course that will be the case.

The insurance policy that covers absolutely everything hasn’t been invented yet. In addition, there are special limits and every homeowner’s policy has them. Check yours. No matter what you content limit is, your policy also states a maximum coverage on certain items such as boats, motors, cash, jewelery, business tools and equipment used at home and away, furs, bicycles, stamp and coin collections – in fact, just about ANY collection, to name just a few.