Tesla Charger Starts Fire??? Maybe....

[InsuranceAgent411]

Tesla Charger starts a fire in the garage and burns the home down; is the HO3 policy going to cover this loss?
Its my understanding some policy forms may not cover due to an exclusion in the homeowner policy. Thoughts?
If a client has a Tesla insured are agents asking about a charging station and coverage implications?

 

[vic120]

Tesla Has The Highest Accident Rate Of Any Auto Brand

Tesla drivers had 23.54 accidents per 1,000 drivers, a study found. Tesla recently recalled 2 million vehicles over problems with its autonomous driving functionality.

www.forbes.com

 

[Markthebroker]

Tesla Charger starts a fire in the garage and burns the home down; is the HO3 policy going to cover this loss?
Its my understanding some policy forms may not cover due to an exclusion in the homeowner policy. Thoughts?
If a client has a Tesla insured are agents asking about a charging station and coverage implications?

This is an interesting one. I would expect the HO3 to cover it, and subrogate to the liability on the Tesla. Again, very interesting.

 

[goillini52]

Again, very interesting.

 

[Markthebroker]

Silly monkey.

 

[Markthebroker]

Tesla Has The Highest Accident Rate Of Any Auto Brand

Tesla drivers had 23.54 accidents per 1,000 drivers, a study found. Tesla recently recalled 2 million vehicles over problems with its autonomous driving functionality.

www.forbes.com

Wow. I didn't see that one coming. It's from Forbes.com, so I am inclined to believe it.

 

[Policy Monkey]

Tesla Charger starts a fire in the garage and burns the home down; is the HO3 policy going to cover this loss?
Its my understanding some policy forms may not cover due to an exclusion in the homeowner policy. Thoughts?
If a client has a Tesla insured are agents asking about a charging station and coverage implications?

I'm with @Markthebroker, I would expect the HO3 to cover the burned house, including the charger. But there usually are exclusions for motor vehicles, so it may not cover the Tesla car itself.

 

[Allen Trent]

Here is an unrelated weird question. If I have solar on my house & sell it back to the utility, am I running a business, am I running a natural resources mining business? Am I running a farm? Would those exclusions apply to any loss on the policy if the carrier didn't know about the solar operation?

PS. Can't think of any exclusion related to a charger as it wouldn't be different than phone chargers, battery tenders, trickle chargers or really just extension chords all around the house

 

[Policy Monkey]

Here is an unrelated weird question. If I have solar on my house & sell it back to the utility, am I running a business, am I running a natural resources mining business? Am I running a farm? Would those exclusions apply to any loss on the policy if the carrier didn't know about the solar operation?

PS. Can't think of any exclusion related to a charger as it wouldn't be different than phone chargers, battery tenders, trickle chargers or really just extension chords all around the house

The whole PV panel thing is an evolving issue here in FL. They are becoming very common here, but there is no consensus between the carriers on how to cover them. I know of at least one carrier that will not cover them if you sell the energy back to the utility because, as you mentioned, they are calling that a business endeavor. (But they will cover if you don't sell the energy back.) I've never heard anyone call the panels resource mining or farming, but I wouldn't put anything past the carriers these days.

 

[Markthebroker]

The whole PV panel thing is an evolving issue here in FL. They are becoming very common here, but there is no consensus between the carriers on how to cover them. I know of at least one carrier that will not cover them if you sell the energy back to the utility because, as you mentioned, they are calling that a business endeavor. (But they will cover if you don't sell the energy back.) I've never heard anyone call the panels resource mining or farming, but I wouldn't put anything past the carriers these days.

I believe there is a larger fundamental issue at play here. The insurance industry is one of the largest and oldest businesses in the world. Like most large old things, it moves and evolves quite slowly. We have had new risks and entire industries spring up and evolve that no one could have dreamed of 30 years ago, and the insurance industry is struggling to adapt.