Greg answers some of the most asked insurance questions from social media in this episode of Ask The Expert. 800 CHAB radio presents Ask the Expert with Greg Marcyniuk of Heritage Insurance located in Moose Jaw.
Here's a full transcript of the episode.
Rob Carnie: Keeping the lines of communication open is just part of the service you get at Heritage Insurance in downtown Moose Jaw. Greg Marcyniuk on Ask the Expert today. Greg you've opened it up on Facebook, you've opened it up on LinkedIn, asking people, not just your customers but anybody if they have any insurance questions. And you've seen a number of questions, including people who are wondering about liability when it comes to someone wanting to borrow your vehicle.
Take us down that road.
Greg Marcyniuk: Well, Rob, as soon as you give care, control and custody of your vehicle to someone other than that is listed on the policy, you are actually opening yourself up to liability. So if they're out and they get in an accident, both of you can be liable in that respect depending or not whether they've been at fault or not.
As well, the other thing you really have to be cautious, if they're not abiding to the laws as to whether they're speeding, whether they ran through a stop sign, whether they're drinking and driving. So there's a couple of things that you can do to protect yourself. And number one, definitely have a package policy because it does extend as well.
Another thing that I really highly recommend for people, is to purchase an umbrella liability policy and that will also extend to that. But really bottom line, if you have to lend something to a person other than your family member and if it's going to be over a longer period of time, just cover yourself.
You're better off just to rent a vehicle, and you know, that way the liability on it is on them when they go and rent a vehicle. But those are things you should definitely keep in mind when you are lending that vehicle out to someone.
Rob: That's good advice. So what I'm getting out of this is the next time somebody says, "Hey, can I borrow your truck?" Either drive it myself or just say no.
Greg: Well, exactly. You know, the thing is we're living in a society now that people are suing people. We're even seeing where family members have sued other family members. So the old times of just letting someone use something and not worry about it, those days are gone and out the window unfortunately.
Rob: So there you go. Be careful if somebody wants to borrow your vehicle. Another popular question often asked by customers and others, when you open it up to communication, hot water heaters. If your hot water heater breaks, is your insurance covering that?
Greg: Typically what is covered when a hot water heater bursts, is the resultant damage caused by the water heater. So for example, say if it's running down the stairs, you flood the basement, those things, anything that that water does damage is covered. But the thing is, is that the actual water heater itself, it's not going to be covered because that is typically something that is used over a period of time and, you know, an insurance policy isn't a warranty policy.
It's there for the resultant damage but not for the warranty of products that will wear down over a period of time so it's quite important that you stay on top of your hot water heater, make sure that you've got it in good working condition. The other thing that I do highly recommend is actually putting a drip pan in if it does burst.
And most hot water heaters and people that are installing water heaters today, will recommend that you put a drip pan so that if it does happen, it goes down the sewer, as opposed to around your whole basement creating nothing but havoc for you.
Rob: And certainly any local plumbing and heating professional will help you out with that.
Greg: That's correct, Rob.
Rob: Well, that was a good learning session. I think we learned a lot today about liability when you lend your vehicle out, and about insurance coverage when it comes to hot water heaters. Greg Marcyniuk, Heritage Insurance. Thanks very much for this. We'll talk to you soon.
Greg: Thanks, Rob.
Rob: If you have any questions about your insurance, you can always call Heritage Insurance 693-7640, that's 693-7640 or drop in and see any of the brokers at Heritage Insurance corner of Fairford Street & 1st Northwestern, in Downtown Moose Jaw.
(Video transcription by Speechpad)