Hoverboards & Insurance fun!

I know hoverboards and insurance fun don’t go together (ok, insurance and fun probably don’t go together either), but hoverboards, fire and broken bones do. I don’t want to get too in-depth with this conversation, but have you ever wondered if hoverboards are covered by insurance?

There are¬†several different versions of homeowner’s insurance policies and insurance companies will add endorsements and exclusions to those different versions so please understand this is broad and simplified discussion. Always consult your insurance policy for actual coverage and exclusions.

Here are some scenarios to think about…

  • Your hoverboard spontaneously caught fire and burned down your house. Will your homeowner’s insurance policy pay to rebuild your home???? The good news is yes. Your insurance company will then subrogate against the manufacturer to recover it’s damages.
  • The hoverboard itself will more than likely not be covered as personal property because it could be considered a “motor vehicle”, which is excluded on your homeowner’s insurance policy.
  • Your son crashes into an elderly woman at the mall with his hoverboard and she suffers numerous injuries. NO COVERAGE. This is a scary one because not only will the woman’s medical bills not be covered, but neither will you as the homeowner have any defense coverage when you are sued. ¬† There is a potential to have this covered if the injury occurred at an “insured premises” (so basically at your home).

Just some food for thought as you enjoy the compilation video above of people taking spills on hoverboards.

Stay safe and have a Happy New Year. BTW we are closing at 3pm on New Year’s Eve.

Thanks,
Steve

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