Barry left his Lamborghini with David to find a buyer. David found a buyer and released the car to her for a payment of more than $200,000 with a promise to obtain the title. Barry and David agreed to a final price of $225,000 to be paid within 30 days. Barry cancelled his insurance coverage but retained the title.

Barry never received the cash and was surprised when the dealership closed and David could not be found. He filed a theft report which resulted in the car and the buyer being located but David and the money remained missing.

Barry filed a theft loss with his insurance carrier. The carrier denied coverage.

Click here to learn how the court ruled.

Barry gave David his Lamborghini intending that David sell it for him. Commercial Property Coverage Forms exclude this type of loss through the application of the voluntary parting exclusion. However, the personal auto policy does not have a similar exclusion. In fact, the personal auto policy has only a few exclusions under Part D-Coverage for Damage to Your Auto.

Click here to review the PF&M analysis of the exclusions under Part D-Coverage for Damage to Your Auto.

Barry and other personal auto owners file theft reports with their carriers. While insurance coverage for theft is valuable protection, it does not cover the time wasted to file a claim, deal with law enforcement, obtain a rental vehicle, and purchase a new vehicle. In addition, it cannot return the lost peace of mind when any property is stolen.

Click here for an emarketing article you can blog, post on your website, or send in your newsletter to encourage your clients to take some simple measures to protect their autos.

Theft is one of many coverages the personal auto policy provides. Your clients do not want to have an accident and should be reminded that driving in the fall and winter can be especially dangerous. This might be a good time to reach out with a letter that lets them know you are concerned about their safety.

Click here for a letter you could mail to your clients to point out some simple techniques they and their family members can follow to reduce their chances of having an accident.