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Real Agents, Real Claims: The Missing Watch

Every story in our “Real Agents, Real Claims” series are, in fact, real claims we’ve had from our own customers. For privacy and legal purposes, no names have been shown and the characters in these stories are presented as anonymous.

Picture this, you have just finished an open house and everything seems to have gone smoothly and the potential buyers seemed impressed. The next day you get a phone call from an angry homeowner saying that their expensive Rolex that they had on the bedside table is no longer there. What do you do now?!

First things first, remember that Toole Peet has your back. Typical liability policies would not cover a situation like this because technically no property has been damaged, it has just mysteriously disappeared. We have customized our wording to make sure that there is coverage in this type of situation for mysterious disappearance if it is determined you are liable.

In this claim example, we had an agent who was being accused of stealing an expensive watch from the homeowner. The watch was worth about $50,000 and our client was adamant that neither he nor any of his clients, took it. He reported the incident to us and an Intact adjuster was there to walk him through the process.

The first step should always be to advise the homeowner to report it to the police. Once it’s been reported the adjuster will investigate the disappearance and determine whether or not there is negligence. If it is determined that there was negligence on your part (which doesn’t mean you stole it!) then our policy will pay for the damages. Once again, this type of coverage is not normally included in a standard liability policy.

Today’s society is becoming increasingly more litigious, and people can bring frivolous allegations against you with almost no consequences. Maybe the watch never existed. Maybe the homeowner hid it away somewhere safe and just forgot. Maybe it was genuinely stolen. Regardless of what happened, we want to make sure that you are properly protected against these allegations.

Find out more about the RealProSure program here and get covered today.

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