Friends truck burnt down in my driveway will my homeowners insurance cover it?
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Asked April 25, 2017
The unfortunate thing about homeowner's insurance when it comes to vehicles is that your insurance will not usually pay for it. If you have combined homeowner's and car insurance, there is a more likely chance that the vehicle will be covered in the instance of a fire. If it isn't your vehicle, however, the chance that any insurance of yours would pay out on it burning down, is next to none.
In some instances, such as the car being in your garage when it burned down, and the whole house burned down with it, there may be a sliver of a chance that your homeowner's insurance will cover replacing the value of the car. Since the car was in the driveway, car insurance is your only bet as to having it covered. But, since it's not your vehicle, your insurance won't cover the damage in any case, whether it was on your property or not.
There are too many extenuating circumstances that could have been the cause of the fire, therefore, without an extensive investigation, it is unlikely that any insurance would pay out on the damage no matter where it happened.
There is a good reason that you should not claim a burned car on your homeowner's insurance. If you claimed it on your homeowner's insurance it would be claimed as personal property, and the valuation of fixing or replacing the vehicle would be added to the total loss against your insurance policy. This could make your insurance policy increase drastically as the total loss could be extensive depending on the type of vehicle and it's age. Since personal property damage is only supposed to be a small portion of your total policy, if your homeowner's insurance does pay out on the claim, there would be significantly less available if you had a break-in or any other incidents.
Answered April 26, 2017 by azadam