Gaps in Coverage -- The Uninsured Barbie Car and Power Wheels Exposure

Podcaster and blogger Tim Dodge, IIABNY's resident insurance geek, writes the always informative Ask Tim, a blog for New York insurance agents and brokers.  From that blog last week comes this discussion of one of the several gaps in coverage that are known to exist under the standard HO-3 homeowners policy.

Tim queries:

Which of the following exposures do you think the HO-3 covers for liability?

1. A golf cart that can hit a top speed of 25 MPH tooling around the public roads of a private residential community? -or-
2. The Power Wheels Ford F-150 riding toy, which maxes out at 5 MPH with a kindergartner at the controls, while going for a spin around the block?

And the answer is...  "a.", liability for off-premises injuries or damage the golf cart causes is covered, but not from the kid's Power Wheels or Barbie Car.

Incredulous?  Head over to Ask Tim and read the explanation.  That's right.  The uninsured Barbie Car or Power Wheels exposure.  Better keep your kids off the neighbors' lawn, folks.