Homeowners Insurance Buying Tips

Most individuals that own a home have come to realize how important it is to maintain an adequate level of coverage that will provide the desired amount of protection, but few people realize that there are extenuating circumstances and scenarios that may require some additional planning and thought.

Many homeowners don’t stop to think about the various situations that may warrant a re-evaluation of their property insurance. For example, most individuals that decide to rent out their homes simply fail to understand that their homeowners’ insurance policy may be lacking in some areas. Some insurance companies have additional regulations and riders that must be utilized when a property is no longer used as a primary residence, and there often are higher premiums attached to this change. Homeowners need to be sure that they know who will be responsible for various types of situations that could result in financial or physical liability. While the actions required may not appear to be drastic to most homeowners, the simple truth is that failure to comply could result in a claim being denied or coverage being terminated.

Mortgage life insurance is another type of product or program that is designed to help protect a property by paying off the entire amount owed in the event of the policyholder’s death. Although there are some obvious benefits to mortgage life insurance, there are also some things that require careful consideration as well. Many mortgage life insurance policies will only provide a death benefit payable to the creditor and the premiums may be fairly high when compared to other types of life insurance. Families that have more than one income earning member should be aware that they may actually need separate policies to cover all possible worst case scenarios. The most obvious benefit is that homeowners can rest assured that their mortgage will be taken care of in the event of death, and this can often serve as a comfort to surviving spouses.

Some homeowners are certainly more likely to benefit from mortgage life insurance than others and the most common clients are those that worry about the ability to pay for a mortgage if there is a significant reduction in income. Many families depend on two incomes and would not be able to make ends meet with anything less. Single individuals may not be as interested in protecting their home from foreclosure in the event of death.

There are some families that may not owe very much on their home, and these clients may be better suited by another insurance product. While many people use various types of term life products to provide protection for their home, it has also become increasingly popular to use other types of whole life insurance and return of premium life. Consumers have realized that when the mortgage is paid off, the other life insurance products available can continue to extend coverage and will simply pay death benefits to a beneficiary instead of a creditor.

The proper protection for a home is absolutely not one size fits all and depends on a variety of different factors. A homeowner must ultimately decide what type of insurance products will best serve their needs. No matter what a consumer decides to do, the steps should be taken to ensure that every worst case scenario has been thought of and prepared for.

Retrieved from "http://www.articlesbase.com/insurance-articles/homeowners-insurance-buying-tips-1751841.html"

READ MORE >>

Is State Farm Getting Ready to Bailout on the State of Florida?

By: Michael Letcher

For years State Farm Florida Insurance Company has remained one of the few Fortune 500 homeowners insurance companies still doing business in Florida. It is still by far the largest private insurance company in the state for both homes and autos covering 1 million and 2.5 million policyholders respectively.

They deserve credit for that.

After all, following the billions in claims from Hurricane Andrew in 1992, many large insurance companies simply left the State of Florida for good - and never looked back. That left Florida to deal with the problem on its own and caused it to create its own state run insurance company of last resort to help those who simply could not find coverage.

State Farm Florida Insurance Company did not follow this approach.

It has taken a prudent approach to the market that has been present in Florida since Hurricane Andrew. These steps have included:

Strict underwriting criteria for homes selected for new business

Multiline discounts for policyholders with home, auto, and life coverage

Selectively cancelling higher risk older homes closer to the coastline

This approach might have been successful during normal, reasonable periods of history. But things in Florida have been anything but reasonable in recent years:

From 1992 to 2004, no large insurance companies re-entered the Florida home insurance market - leaving State Farm on its own.

Florida hurricane claims in 2004 and 2005 caused billions of dollars in damage. State Farm Florida paid millions in claims and had to request an emergency cash infusion from its parent company to recapitalize it.

While the company was able to get significant rate increases after the 04/05 hurricanes, massive rate increases granted to most of the companies in Florida in 2005 and 2006 caused a major political uproar. Quite honestly, the public demanded rate relief because Florida home insurance was simply not affordable.

The pressure for lower rates was far worse due to outrageous property taxes and the collapse of the Florida real estate market.

The State of Florida reacted to voter pressure. But the results were not impressive.

The 2007 and 2008 legislation had a minimal effect on lowering homeowners insurance rates and shifted billions of dollars in catastrophic risk to the Florida Hurricane Catastrophe Fund - a state entity that has publicly stated that it can't meet its reinsurance obligation to insurance companies in part due to the frozen bond markets.

As a result, all companies including State Farm Florida are concerned that the Florida Cat Fund won't be there to pay them back after a major hurricane and are looking for new sources of backup reinsurance.

That, combined with other factors led the company to request a 47% rate increase a few months ago. After state regulators rejected the rate increase, the company appealed that decision in court. Recently a judge agreed with state regulators that State Farm's 47% rate increase was not justified and also rejected the rate increase.

This brings us to where we are today - a time when many Floridians have to be wondering if State Farm Florida is preparing to exit the state for good. This would not be welcome news and would cause a major shock to the Florida homeowners insurance market as policyholders scramble to find other coverage.

In today's uncertain times, you have to be ready to face realities. One of those might be that State Farm will cancel or drop your homeowners insurance coverage in Florida. If that happens there are several things you need to do to respond to this:

Shop your policy. Most State Farm Florida agents can only offer you homeowners coverage with Citizens after your policy is cancelled. Find a large independent agent who represents multiple companies in order to give you the best options for replacing State Farm Florida.

There are new Florida base regional insurance companies that have been created over the past 15 years, with many only being recently approved since the start of 2006. Some of these companies might be a good option to replace State Farm but you have to research each and every one of them. Check their financial ratings and customer service history thoroughly.

State Farm Florida insurance agents will be hurt by mass cancellations of home insurance policies. They have spent years building a book of insurance business in Florida. When they lose your home insurance business, they often lose your auto and life insurance business as well. While you can't help but be sympathetic, you need to know that it is in your agent's self interest to keep your auto and life insurance business while putting your home insurance coverage into Citizens Property Insurance. Don't accept being placed with Citizens without looking for other private home insurance companies through other agents that can also offer you auto and life insurance.

Get all the facts if you are thinking about Citizens Property insurance. Citizens has said that it does not charge enough premium to cover the risk that it takes. It too is expecting problems borrowing to pay its claims after a major hurricane in today's troubled bond markets. Major recommendations being presently considered at Citizens include raising rates, limiting coverage, and mandating certain home hardening measures. Do your home work on Citizens just like you would for any other company.

While we don't know how the final situation with State Farm Florida will play out, if you follow these steps you'll be way ahead of hundreds of thousands of policyholders that might be scrambling to get coverage all at once.

About the Author

Michael Letcher is a former Fortune 500 executive and a licensed CPA. His on-line guide can help you find options if your home insurance is cancelled by State Farm Insurance Fl. Get his free newsletter by visiting =>
http://www.homeinsurancebuyers.org

READ MORE >>

State of Florida - is There Any Way to Avoid a Financial Collapse?

The State of Florida's financial situation has never been more serious than it is today.

With a projected budget deficit of $2.3 billion, the State of Florida is one of eight states where a deficit of over $1 billion is expected. The budget shortfall is being blamed on everything from lower collections on documentary stamp taxes from a slumping real estate market to reduced sales taxes on the sale of automobiles. Dramatic reductions in tourism, consumer spending, and corporate income have all led to lower sales and corporate taxes. And in particular, for the first time in decades there are fewer newcomers entering the state.

Florida property taxes are still extremely high. Voters have seen little relief from Amendment 1 passed earlier this year. While taxable home values have come down due to the collapse of the Florida real estate market, this has been more than offset by higher tax rates and an increase in taxes that are not based on the value of the home. The net result is that Floridians still face staggering Florida Property tax bills - even in a depressed real estate market.

Florida homeowners insurance is still expensive and hard to find. Legislation passed in 2007 put much of the risk of a major Florida hurricane on the backs of Florida taxpayers. The Florida Hurricane Catastrophe Fund offered cheap reinsurance to insurance companies in exchange for taking on $12 billion in additional risk. Now the Cat fund says that it doesn't have the borrowing capacity to meet its obligations - estimating a possible shortfall of up to $15 billion.

The State of Florida was so concerned about the inability of the Cat fund to raise money to cover a major hurricane earlier this year that it paid Warren Buffett's Berkshire Hathaway Company $224 million. In return, Buffett's company guaranteed that the state would be able to raise $4 billion in bond debt if a major hurricane produced enough damage to trigger the Cat fund.

The situation at the state run insurance company in Florida - Citizens Property Insurance Corporation isn't much better. Citizens Property Insurance has some of the highest risk homes in Florida and doesn't collect enough in premiums for the risk that it takes. It has $433 billion of property exposure on its books with a $4 billion surplus on hand to pay claims.

Policyholders of Citizens face two issues. First there is the risk that Citizens can't meet its primary claim obligations for lower level storms because of its own trouble raising cash in the bond market. Second, once losses reach a certain level, Citizens will look to the Cat fund for reimbursement after a series of major Florida storms - a fund that just might not have the cash needed by Citizens.

While all of these developments in Florida are serious, there is really nothing new about a government that doesn't live within its means and takes on obligations that it doesn't have the cash on hand to meet.

What is new and should send shockwaves across Florida is the fact that the state cannot borrow in today's bond markets the way it has been able to in the past. In effect, the State of Florida has maxed out its credit card.

Why is it so hard for states like Florida to borrow in the current bond markets?

Issuing bonds used to be easy for state and local governments. The process was straight forward, and very few people paid any attention to it. That's changed since the failure of the subprime mortgage market.

Despite a very low bond default rate, it is very difficult to attract bond investors these days. Companies that used to insure new bond issues have had their ratings downgraded. That's made the bond market less liquid and less attractive to investors. And it makes states like Florida have to offer higher payments for interest and principal in order to sell out a bond issue.

With severe revenue shortages and a frozen bond market all Floridians should be demanding that the state keep tightening its belt. That process is already underway. But you should also expect strong resistance to spending cuts from those who believe that there is no such thing as too much government.

These groups will demand that Florida lawmakers increase taxes rather than making additional cuts in spending. Don't underestimate where this could lead. Many items that are currently exempt from Florida sales tax could suddenly be taxable in this crisis environment. Expanding the sales tax could lead to new taxes on everything from Internet sales to various types of consulting services. All of which would dramatically increase our own cost of living and make it that much harder for Florida to emerge from this recession.

And never underestimate the chance that Florida lawmakers will deal the final death blow to the state - instituting a state income tax.

It is up to all of us to make sure that never happens!

If there is one lesson that all governments need to learn during the current financial crisis it is this - there is nothing wrong with the "pay as you go" system. It will always stand the test of time no matter how shaky the bond markets are.

Retrieved from "http://www.articlesbase.com/finance-articles/state-of-florida-is-there-any-way-to-avoid-a-financial-collapse-669636.html"

READ MORE >>

Business Insurance

There is no denying the fact that success of a business depends on the hard work of the team but one disaster can wipe out your efforts and bring down the profits to dust. So, to avoid such an instance, you need to insure your business, whether it is a small enterprise or a large corporation.

There are insurance companies, which have policies that combine protection for all major property and liability risks in one package. You can also opt for separate coverage. Such a policy is called a business owners’ policy (BOP). Larger companies may purchase a commercial package policy.

BOPs include property insurance for buildings and equipments owned by the company. If there is any loss of income due to disruption of operation and business because of accidents like fire, it can be covered under the Business Interruption Insurance.

There are liabilities, which cover the company's legal responsibility for the harm it may cause to others. It is the result of your company’s failure to do the business operations. It can also be the bodily injury or property damage caused due to defective products, faulty installations and errors in services provided.

However, BOPs don’t cover professional liability, auto insurance, worker’s compensation or health and disability insurance. Separate policies are needed for professional services, vehicles and employees. Generally, floods, earthquakes and terrorist attacks are not covered in the business insurance.

Protection Against Flood Damage

If your office is in the flood zone area, you must definitely go for a policy, which provide coverage against flood. Try to find out whether the place had been hit by flood in the past. Make sure you do something in advance to make up for the loss. Otherwise you may face trouble.

Protection Against Earthquake Damage

Earthquake is also not included in most property insurance policies such as homeowners and business owners’ package policies. Special Earthquake Insurance Policy or Commercial Property Earthquake Endorsement can cover you if you live in an earthquake-prone area. However, earthquake policies have different deductibles.

Business Interruption Insurance, which reimburses you for the lost income during a shutdown, applies only to the damage covered under your business property insurance policy. There won’t be reimbursement for the loss caused due to the closure of business because of the earthquake. For it, you must have an earthquake coverage policy.

Protection Against Terrorist Attack Losses

In the US, loss due to any terrorism is covered only for those businesses that have optional terrorism coverage. It comes under the Terrorism Risk Insurance Act 2002. Still, there are exceptions in workers’ compensation, which include injuries and deaths due to acts of terrorism.

Retrieved from "http://www.articlesbase.com/finance-articles/business-insurance-10605.html"

READ MORE >>

Property Title Insurance in the Offing

Bajaj Allianz, ICICI Lombard in talks with American company to launch the product.

Property transactions in India will soon have an insurance cover to fall back in case something goes wrong in the deal. The country’s two large private sector insurers, ICICI Lombard General Insurance and Bajaj Allianz General, are planning to launch title insurance covers this year.

Title insurance is a cover that protects a potential owner of a property against loss from defects in title. The policy is a retrospective one, where the insured is protected against losses arising from the events that occurred prior to the date of issuing the policy. Globally, the policy is bought by investors, occupiers and financiers.

At present, none of the property transactions, be it large acquisitions or a simple sale of a land or a flat, is covered through an insurance policy by an Indian insurer.

The reason is that Indian insurance companies do not have the underwriting expertise to offer title insurance products. Indian insurers require reinsurance support to be able to offer the product.

Both Bajaj Allianz and ICICI Lombard are in talks with First American Title Insurance Company (FATIC), which will be offering reinsurance support for Indian insurers to offer the product.

FATIC is the largest title insurer globally, with a revenue of $8.4 billion in 2006.

Says Swaraj Krishnan, CEO, Bajaj Allianz General Insurance, “We have had a preliminary discussion with First American Title Insurance. We have asked them to give us the product details. We will be doing a market study, verifying the titles and will file the product with the regulator in the coming months.”

The value of the title insurance cover will be equal to the price of land that has to be acquired. The premium rates will be a function of the value of property, the nature of transaction, which means the size of the purchase, the past history of the real estate property, costs relating to title search and the legalities involved in the title search.

Howden Insurance Brokers is also in talks with real estate developers, financial institutions, law firms, insurance companies and reinsurers to culminate into the next few insurance policies being sold.

Says Anoop Mathur, vice-president of Howden Insurance Brokers, “The value at risk has grown proportionally as the land cost has increased for the real estate developers. Title insurance makes a project bankable and saleable to customers.”

According to Akshaya Kumar, chairman, Park Lane Property Advisors, consultants during due diligence discover 20-30 per cent cases have title defects in them.

Property consultants believe that the availability of title insurance products will boost private equity investment in Indian real estate since most of the institutions are very particular about clear titles.

According to accounting and business consultancy firm Grant Thornton India, private equity firms have invested nearly Rs 25,000 crore in Indian real estate and infrastructure in 2007and, according to industry estimates, the investments are set to grow in the coming year.

“Institutions do not buy even if they have the slightest doubt about the titles. More private equity funds will flow in the Indian real estate if title insurance products are available in the country,” says Anuj Puri, chairman, Jones Lang LaSalle Meghraj, an international property consultant.

Adds Anshuman Magazine, managing director, CB Richard Ellis, South Asia: “Title insurance products give a lot of comfort to international investors to invest their funds in the property markets of developing markets such as India. Since these investors do not invest directly and do joint ventures with Indian developers, the local partners will take care of title issues. But we have also seen foreign investors demanding these products before signing the agreements to develop properties.”

According to Mathur of Howden Insurance Brokers, the two Bills — Land Acquisition Amendment Bill, which has been introduced last month in the Lok Sabha, and the Resettlement and Rehabilitation Bill – will make corporates acquiring land for SEZ or other reasons buy title insurance covers.

Explains Mathur, “After the amendement of the Land Acquisition Act, 1984, the government will not be able to acquire land and make it available for companies. As a result, corporates will have to acquire the land directly from land owners at a higher price. In such a scenario, title insurance would protect project developers from any financial loss arising from any defects in title to real property.”

There are two types of title insurance policies: the owners’ policy and the lenders’ policy. Owners’ title insurance is bought by a buyer of the property. It protects the buyer from all loss or defects in a title.

On the other hand, the lenders’ title insurance is bought by lenders such as banks and financial institutions. Experience in other global markets is that all institutional lenders require title insurance to protect their interests in the collateral of loans secured in real estate.

The policy amount decreases each year in proportion to the loan paid off each year. The policy has a provision for defence cost if a title to the real property is challenged in a court of law up to the actual amount of indemnity provided under the policy.

Land records in the country are not computerised and are not easily accessible.

The deeds registration system is not guaranteed by the state government and is inconclusive; typically leaving buyers with 30 years of title deeds to assess. Besides, the level of fraud in Indian real estate transactions is very significant; and the legal process is slow.

According to insurance officials, four to five foreign title insurance companies are keen to do business in India on this product. They may set up a dedicated company in India or could provide reinsurance support to Indian insurers to offer the policy for this line of business.

Retrieved from "http://www.articlesbase.com/real-estate-articles/property-title-insurance-in-the-offing-294603.html"

(ArticlesBase SC #294603)

READ MORE >>

The Accidental Death and Dismemberment Rider Can Enhance Your Life Insurance Policy

Whole life insurance can provide the peace of mind you need by providing financial protection for your loved ones should you pass away. A whole life policy provides insurance coverage for your lifetime, as long as you maintain your policy by making premium payments on time.

Whole life insurance also has a saving benefit called cash value. The savings benefit has a variety of advantages, including the ability to borrow against cash value (note that any outstanding loans are subtracted from the insurance benefit at the time of the policyholders death).

In addition to your basic life insurance coverage, you can enhance your policy with one of many riders, including the accidental death and dismemberment rider (AD&D).

What Is a Rider?

A rider is a clause that amends the terms or coverage of your life insurance policy. There are many different types of riders available, which can be added for an additional fee.

The AD&D rider, sometimes called double indemnity, provides additional benefits should the policyholder be involved in an accident. In the event that the insured passes away because of an accident, the insurance company may provide beneficiaries an additional benefit, sometimes in an amount equal to the face value of coverage, potentially doubling the policy value.

Some life insurance companies offer triple indemnity. If this option is available, beneficiaries may receive three times the face amount of the whole life insurance policy if the policyholder were killed in an accident.

If the insured were to survive an accident, but lost limbs or vision, some or all of the benefit would be payable the policyholder. Each insurance company provides different benefits, or a proportion of benefits, depending upon the bodily loss suffered. Consult the terms and conditions of the AD&D rider you are considering for specific details.

What Accidents Qualify?

Many insurance companies define the type of accidents that qualifies for the AD&D rider. Typically, accidents are unexpected happenings, such as car accidents, plane crashes, train derailments, machinery malfunctions, etc. The key point being that an accident is not related to a body malfunction, such as a heart attack, asthma attack, or stroke. To find out what events are considered accidents, review the policy and rider or consult your insurer.

Non-qualifying Events

Perhaps it might be better to explain what does not constitute an accident. Accidents that involve any illegal or crime-related activity are typically not covered. Suicide is not considered an accident either. Also, if an accident is the result of a body malfunction, the AD&D rider is usually not applicable.

To learn more about the AD&D rider, and to compare quotes from multiple insurance companies just enter your zip code.

Source:

iii.org • http://www2.iii.org/index.cfm?instanceID=9

READ MORE >>

Safeguard Your Retirement with a Whole Life Insurance Policy

Whole life insurance can be one of the most attractive financial products you can consider.

You may know of friends or family members that have suffered market losses in their investment portfolios over the past few years, which got them to rethink their investment strategies. In today's economic environment, people are looking for ways to safeguard a percentage of their assets from a future market downturn. This may become particularly important when you consider retirement.

Whole life insurance enjoys many tax benefits that make it an attractive asset to add to your overall investment plan, and receives favorable tax treatment under the law. Section 101 of the Internal Revenue Code provides that the proceeds of a life insurance policy maturing as a death claim, subject to the exceptions stated in the law, are not subject to income tax when paid.

Tax Benefits of Whole Life Insurance

• A life insurance policy owned individually pays a death benefit claim tax-free to beneficiaries

• The cash value in the policy grows tax-deferred

• Withdrawals and loans are tax-free provided that the policy remains in-force. If the policy is surrendered, the gain in excess of the cost-basis is taxable

How Whole Life Insurance Works

Whole life insurance has an annual premium payment that is based on keeping the death benefit in force to age 100 or 120. The policy has a guaranteed annual interest credited to the cash value, and the insurance company can also pay dividends, which are not guaranteed but act to increase your cash value and death benefit if you choose.

For example, a healthy, 39 year old male with a $1,000,000 death benefit might have a whole life annual premium of about $13,000. The guaranteed annual cash value growth, estimated at 6%, may grow to $389,831 at age 65, and the non-guaranteed cash value might grow to $678,478. You can request a quote to see what the exact numbers might look like for you, remembering of course that your health, age, and other factors play a role in the final figures.

Additional advantages of using whole life insurance as a part of your investment strategy include:

• Cash value grows at a fixed rate, and can be improved by company dividend payments (the non-guaranteed cash value)

• The cash value is creditor protected in many states

You want to make sure that your policy doesn't become a Modified Endowment Contract (MEC). The major drawback to a MEC is a 10% federal penalty for early withdrawal prior to age 59 ½, and the fact that distributions are taxed as earnings. Your life insurance agent may be able to help you know what would or wouldn't be classified as a MEC.

http://www.compuquotes.com/safeguard-your-retirement-whole-life-insurance-policy.html

READ MORE >>

Property Casualty Insurance Company

By: meeinter |

After reading our article, you can impress your friends with the amazing amount of knowledge you have gained on this subject.

present tale about acreage fatality assurance crowd is not forever the easiest thing to locate. Fortunately, this tale includes the newest acreage fatality assurance crowd tale open.

To shield your rights, you must an insurance document. acreage casualty insurance especially is something that each musts. Not only does this enter of document proposal shieldion, it is also an undersymbols requirement when you employ for a finance.

Below is a property casualty insurance company record that you might must when youre looking for the right document to shield your losses.

Keep reading further to learn how this topic can benefit you, as the rest of this article will supply you will the needed information.

Accredited warranty & fatality acreage fatality assurance crowd

This property casualty insurance company is rated A brilliant by A.M. Best crowd. Specializing in symbols non-develop deposit binds, this property casualty insurance company is approved to do sphere in 49 US states. Accredited property casualty insurance company proposals bind crop such as payment binds, baby keeping binds, loyalty and deposit binds, and Florida attorney binds.

Ace, narrow acreage fatality assurance crowd

See how greatly you can learn about acreage fatality assurance crowd when you take a little time to read a well-researched item? Don't escape out on the lean of this great talermation.

Based in Lafayette mount, PA, Ace property casualty insurance company is an accredited affiliate of the International Association of Conference Centers (IACC). This property casualty insurance company provides a diverse limit of crop and navy that answers to all enters of clients. Ace property casualty insurance company proposals sphere/corporate insurance to shield accident and vigor, personnel compensation and aerospace to energy, caged programs and jeopardy management. For their delicate/consumer property casualty insurance, Ace shields vigor and life to vehicle and home insurance.

apart from that, Ace property casualty insurance also provides shieldage for reinsurance, non-traditional insurance, and other navy, such as property engineering and more.

American International Underwriters (AIU) acreage fatality assurance crowd

AIU property casualty insurance company is a affiliate of the pleanigious AIG companies. present a broad limit of professional insurance crop, this property casualty insurance company is one of the leaders in the insurance business. For their sphere clients, this property casualty insurance company proposals policies shielding principal casualty, surfeit casualty, directors & officers, environmental shieldage, life insurance, and more. Moreover, this property casualty insurance company also proposals shieldage for personnel compensation and other pecuniary navy like allowance, mutual money, and retirement navy.

American resident acreage & fatality (ANPAC) acreage fatality assurance crowd

ANPAC is a property casualty insurance company that proposals insurance policies for families. A affiliate of the American resident Family of Companies, ANPAC property casualty insurance company provides affordable insurance crop and navy. The ANPAC property casualty insurance company agents can proposal shieldage that includes vehicle, home, umbrella, recreational vehicles, and boats. Also in suitcases of flood, this property casualty insurance company has a flood insurance document that is ornate after the resident Flood list. ANPAC property casualty insurance company also has insurance policies for sphere owners and payment owners.

Of course, it's impossible to put everything about acreage fatality assurance crowd into just one item. But you can't deny that you've just added to your understanding about acreage fatality assurance crowd , and that's time well useless.

When we learn, we continue on a path of growth. Therefore, learning about this subject has already helped you more than you know.

About the Author

Want more information on Property Casualty Insurance Company? http://www.propertyinsuranceworld.info/Property_Casualty_Insurance_Company.html has all the information

Printed From http://www.articlesbase.com/finance-articles/property-casualty-insurance-company-153819.html

READ MORE >>

What Items Should I Insure?

Insurance is an important financial tool, but it can be tricky to know what insurance you need. Not having enough insurance can leave you at risk should anything unexpected happen, but having too much insurance simply wastes your money. Knowing what items you should insure is important, and so here are some tips on which items you should get insured:

Disability

One type of insurance that many people overlook is disability insurance. Even people with good health insurance sometimes don't have adequate disability cover. Your health is probably your most precious tool, and you cannot afford to lose it. If the worst does happen then you need some form of compensation in order to get through such a difficult time. Disability insurance is something that everyone should be insured for.

Life insurance

Life insurance is also an important type of insurance. Although it obviously gives you no benefits, if you want your family to be financially secure after you die then it is an essential thing to have. Having adequate life insurance cover will make sure that your family can support themselves after you are gone.

Property insurance

Your home is probably the biggest asset you own, and so it pays to have it insured. You need to make sure that both the property itself and its contents are fully insured for any loss, theft or damage. If you live in an area that is particularly prone to bad weather such as flooding, then this is an important type of insurance for you to get. Anyone who has a home should have his or her possessions and property fully insured.

Car insurance

Car insurance isn't just important, it is a legal requirement. Although you don't have to have comprehensive insurance, some level of car insurance is required for you to be allowed to drive on public roads. If your car is valuable then it is important to be insured for damage as well as basic theft.

Liability insurance

Perhaps the most complex of all insurance types is liability insurance. This insurance protects you from others. If you are involved in an accident or make an error that causes damage to someone's property or to themselves, then you might end up being sued. Having liability insurance will protect you from the harmful costs of compensation should they occur. The amount of cover you need depends on your net asset worth and how much you can afford to lose.

Insurance you should not get

Although many types of insurance are essential, there are types of insurance that simply aren't necessary for most people. Insurance like flight insurance or payment protection insurance is usually overpriced and unnecessary. These types of insurance cost more than the benefits they give you, and most of their clauses will be covered under other comprehensive insurance policies that you have. The most important thing to remember with any type of insurance is to shop around and get advice before you buy. If you do this then you will end up with the right level of insurance for your needs.

http://www.articlesbase.com/finance-articles/what-items-should-i-insure-53251.html

READ MORE >>

3 Key Ways To Compare Home Contents Insurance

When considering homeowners insurance one should always look to find the best value. Shopping around a comparing premium prices is always worthwhile exercise. Rarely will one find the cheapest insurance on the first try. And, the only way to be sure is to compare with other insurance companies.

A very important component of a homeowner’s insurance policy is the contents, or property, insurance. This is the part of the policy that covers what is in your home, as opposed to the structure itself. This includes things like furniture, appliances, clothing, and so forth. There are some very important issues of which to be aware when comparing home contents insurance.

First of all, it is very possible, if not likely, that you will have some property that will not automatically be covered by the typical policy. For instance, do you have any expensive jewelry, coins, artwork, furs, or anything like this? Very often a special policy rider will have to be added to receive coverage for these types of items. So, when comparing insurance look at how these kinds of property are handled.

Next, one should see if replacement value or cash value is what is being insured. Replacement value is how much it would cost to replace the item right now. Say, you have a dishwasher that is 10 years old. The cash value of that appliance right now is far less than the price originally paid for it. Insurance for replacement value would cover the cost of replacing that item as opposed to simply providing for its current cash value.

Please understand that for many homeowner’s insurance policies it is typical to provide cash value insurance. Replacement value insurance must be specifically requested. And, as you might imagine, is more epxpensive.

Finally, be sure to realize that home content insurance is only one piece of the homeowner’s insurance puzzle. Other parts of the insurance involve insuring the structure itself (where the replacement vs. cash value issue comes in too) and liability insurance. Liability insurance protects you in case of injury to someone who is on your property. The point is, that just because you are pleased with one portion of a policies coverage (such as home contents) you may much prefer how another company handles another part of the homeowner’s package (say the liability insurance). Just know that your comparison needs to be of the entire homeowner’s policy, not just selected portions of it.

Retrieved from "http://www.articlesbase.com/home-improvement-articles/3-key-ways-to-compare-home-contents-insurance-1807083.html"

(ArticlesBase SC #1807083)

READ MORE >>

Property Insurance Center

• Protect Your Property
• Home Insurance Quotes
• Cheap Homeowners Insurance
• Home Insurance Companies
• The Impact Of Home Insurance Regulations For Orego...
• The Impact Of Home Insurance Regulations For South...
• The Impact Of Home Insurance Regulations For Washi...
• The Impact Of Home Insurance Regulations For Texas...
• The Impact Of Home Insurance Regulations For Tenne...
• HOME INSURANCE

READ MORE >>

How to Boost Your Insurance Payout on Property Damage Claims

Filing property damage claims is a complex process that often results in the property owner being shortchanged. First and foremost, insurance companies are for-profit businesses. They aren't in the business for fun; they're in the business to make money. Insurance companies have two ways to make money: collecting premiums and minimizing payouts. It doesn't matter if you have a homeowners insurance claim or a commercial property insurance claim, the process is the same. You pay premiums to the insurance company for coverage. If you suffer a covered loss, you file a claim and the insurance company pays you a settlement, less any applicable deductible. However, this settlement may not be enough to fully reimburse you for your losses.

In order to boost your insurance payout, you must not sit back and let the insurance adjuster tell you what they will pay. Instead, you need to take an active role or hire someone to act on your behalf. Remember that the insurance adjuster, no matter how nice he is, serves the insurance company whose goal is to make a profit by minimizing losses - including YOUR losses.

On the other hand, a public insurance adjuster is one that you can hire to represent you. These adjusters document everything and negotiate higher payouts directly with your insurance company. They are licensed and are often former insurance industry employees who know how the insurance claim game is played. They can counter any tactics the insurance company throws your way and aggressively pursue maximum settlement offers. These professionals earn a percentage of the payout, so it's in their best interest to maximize it.

If you want to boost your property damage payout on your own, find a reputable contractor who will be doing the repairs and ask the contractor to be present during the insurance adjuster's visit. The contractor will have the expertise to point out all structural and cosmetic damage - damage that the insurance adjuster may have overlooked on his own. In addition, the contractor will ensure that estimates reflect actual rebuilding and material costs. The insurance adjuster relies on books and software for making estimates while a real contractor has working knowledge of real world costs.

One of the most important tasks when boosting an insurance payout takes a bit of work on your part. You must thoroughly document EVERYTHING. Invest in a digital camera with a huge storage card and take hundreds of pictures. For example, if you have water damage, take pictures showing the standing water and water level as well as pictures of every single damaged item, especially those that you must throw out due to safety concerns.

Next, use a notebook or your computer to write down a complete inventory of damaged items along with their original cost and estimated replacement cost. Include everything, even small items. You'd be surprised at how your small losses soon add up to significant amounts. For example, if the contents of your refrigerator must be replaced due to the power being out for several days during a flood, make a thorough inventory of all items, even condiments. At $2 to $4 a bottle for salad dressing, mayonnaise, ketchup, and olives, it doesn't take long before you have a huge grocery bill just to restock the basics.

Don't forget to keep receipts for any emergency repairs, temporary lodging, and other related expenses and include them on your claim. When filing the claim, be as thorough as possible and make sure that the claim form is complete and legible. Insurance companies love to delay payouts due to "missing or incomplete" information.

By taking a proactive approach to filing a property damage claim, you will definitely boost your payout.
http://www.articlesbase.com/finance-articles/how-to-boost-your-insurance-payout-on-property-damage-claims-524098.html

READ MORE >>

Protect Your Property

Every year, tons of people loose huge amounts of money in house burglaries, house fires, floods and other unforeseen events. These loses would have easily been compensated had these people availed of insurance for their homes and properties, but the sad fact is - a lot of people don't or if ever they did ,it is under valued.

Property insurance is pretty much easy to understand, it's similar to life, health and accident insurances that you take out for you and your family. It shares the same principles as car insurance and even the physical and accidental insurance that you take for your gadgets and other things. Some people may neglect the necessity of having an insurance policy for their property and home, but as we all know criminal rate and costs are rising and the rising price of everything translates into probable losses.

Property insurance works by providing financial and in some instances legal protection against unforeseen events that may damage your property. Depending on your policy, the insurance provider may directly replace the item damaged or release money so that you can replace it yourself.

An insurance provider first appraises the value of your property and drafts an insurance plan or a proposal that will have the company reimburse you with the same amount that your property is valued in the event of damage to your property. The reimbursement may be lesser or greater depending on the agreed contract. Property insurance protects you against two basic things - named and open perils. Named perils insurance protects your property from events that have been clearly stated in the insurance policy. Most of the time Named Perils insurance policies include common disasters like fire, theft, explosions, etc.

Open Peril insurance policies covers all other unforeseen events except those that have been intentionally excluded in the insurance policy that both parties sign. Most insurance policies cover the Home or the dwelling itself. Any damage to the structure of the house will be appraised and reimbursed after the insurance company has done its investigation on the cause of damage - given there is no evidence of foul play.

Structures that are connected to or in close proximity to the house are also considered part of what an insurance policy covers. This could include fences, gazebos, pools, etc. Personal property is also covered in some property insurance policies. Personal property includes furniture, clothing and appliances, the appraiser will most likely take note of these items and will ask you if you want it covered as well. This will increase the premium to be paid but again, in the event of tragedy, you can expect some replacement due to its coverage. Most of the time home owners get a separate insurer for personal items rather than have them covered by same home insurance company.

Reading an insurance policy thoroughly is necessary so that you have an idea as to what is really covered in your policy so that you will not end up quarreling with your insurance provider because something you thought covered was not after all.

Retrieved from "http://www.articlesbase.com/law-articles/protect-your-property-291596.html"

(ArticlesBase SC #291596)

READ MORE >>

Home Insurance Quotes

If you are looking for home insurance quotes, the endless amount of available options can be very intimidating. Countless insurance companies are competing for your business, offering lower monthly premiums and more options than ever before. If the search for low cost home insurance has you a little confused, let HomeInsurance.org provide some assistance.

Get Informed About Home Insurance

The old cartoon saying really does hold some truth - knowing really is half the battle. Before purchasing a home insurance policy that will leave you under-protected, educate yourself on what home insurance companies have to offer. Our Home Insurance Learning Center offers great information on the types of home insurance that is available as well as how you can get low cost home insurance quotes from reputable companies that will be there when you need them the most.

Quality Home Insurance - Quality Companies

Finding our customers quality home insurance companies is more than a goal. It is the mission of HomeInsurance.org. After answering a few simple questions, we scour the Internet, searching for home insurance quotes from the most respected insurance providers in your area. This allows you to work with home insurance companies that you know and trust - not some fly by night insurance company that won't even pick up the phone when you need them.

Home Insurance Quotes at your Fingertips

At HomeInsurance.org we understand that our customers lead hectic lives. This is why we provide access to low cost home insurance quotes 24 hours a day, 7 days a week. Whether it's 5 p.m. after a long days work or 3 a.m. when you can't sleep, HomeInsurance.org is ready to provide the assistance you deserve. And if you have questions about home insurance quotes, just send an e-mail to HomeInsurance.org and a customer service representative will be in contact shortly.

Choose Your Coverage

When looking for low cost home insurance quotes, it is important to get the coverage you need. This may mean the lowest cost insurance may not be the best for your situation. We have streamlined this process by letting you choose the coverage you need and the price you want to pay. Then HomeInsurance.org can find the best home insurance quotes to meet both your needs and your budget.

So take the next step and answer a few simple questions for your low cost home insurance quotes today. Once we have your information, HomeInsurance.org can find the homeowners insurance policy that will meet your needs without breaking the bank. It's that easy!

Whether you are a new homeowner or a seasoned veteran, HomeInsurance.org is your online source for affordable home insurance.

http://www.homeinsurance.org/home-insurance-quotes.php

READ MORE >>

Cheap Homeowners Insurance

Everyone wants to get the best deal possible. Whether it is buying a new television or home, you want to get the most features for the lowest cost possible. Unfortunately, when it comes to insurance many people think you take what you can get. HomeInsurance.org offers a way to help our customers get cheap homeowners insurance while still getting the coverage you deserve.

The best way to find cheap homeowners insurance is to know exactly what you're looking for before you start shopping. By checking the laws in your state and talking to your neighbors you can get a good idea of what types of coverage you will need and possibly what to expect as far as the cost of the home insurance policy. Once you have this information it will make looking for cheap homeowners insurance online much easier.

The Cheapest Homeowners Insurance May Not Be the Best

Everyone wants cheap homeowners insurance but it is important to remember that just because a policy offers the lowest monthly premium doesn't mean it is giving you the best value. Look at the type of coverage that each company offers and don't give up needed coverage for the lure of the low monthly payment. Ask questions to get an idea of the customer service that each homeowners insurance company provides. If it takes the insurance provider a long time to answer your questions it is a sign that it may take them a long time to answer your claim.

Cheap Homeowners Insurance from Reputable Companies

Even though you're shopping for cheap homeowners insurance doesn't mean you should get coverage from companies you don't know. If you have never heard of a home insurance company, there may be a reason. Research each of the companies to find out how long they have been in business and their track record for claim coverage. Our service allows you to shop for the lowest home insurance quotes available from our network of quality, reputable companies to help ensure you get the coverage you deserve at a price you want to pay.

Lowering your monthly expenses is a great way to save money and HomeInsurance.org can help by providing you with multiple cheap homeowners insurance quotes to choose from. Just answer a few simple questions and we will search for the lowest available monthly premiums from companies you know and trust in your area. And our service is available 24 hours a day, seven days a week for your convenience. Start today and find cheap homowners insurance online with HomeInsurance.org!

http://www.homeinsurance.org

READ MORE >>

Home Insurance Companies

At HomeInsurance.org we understand that getting a low cost home insurance quote is important to our customers. Sometimes, however, getting a low home insurance quote online can cause you to forget to ask the right questions. Even though a homeowners insurance quote is the lowest doesn't necessarily mean that the insurance company is offering the coverage you need. Take some time to look through the different quotes we provide and contact the companies even if their quote isn't the lowest. You may be surprised to find that the lowest price may not be the best value.

Reputable Home Insurance Companies

Home insurance companies base their business on the quality of service they provide. A good insurance company will go out of their way to make sure you have the coverage you need to protect your home and answer all of your questions quickly and accurately. Most reputable insurance companies have built their company based on word of mouth new business. These are companies with lasting power and will help guarantee coverage in the future.

Ask Questions

Before committing to a home insurance company, ask questions about the policies they offer as well as their customer service. Pay close attention to not only the answers they provide, but also the amount of time it takes for the company to answer these questions. If it takes a long time to get a response to your questions, especially if they are simple, it is a safe bet that it will take a long time to get a response to your home insurance claim. With home insurance companies, customer service is they key.

Does the Home Insurance Company offer the coverage you need?

Another thing to look for when purchasing cheap home insurance online is whether the company offers the coverage you need or want. When you get a cheap quote from a home insurance company it can be very easy to overlook coverages that are not included, but this can be troublesome in the future. Look at the individual policies the home insurance companies offer and go with the one that offers the coverage you want at the best price. Just because the policy is the lowest doesn't mean it's the best value.

24 Hour Service

Whether it is by phone or online, 24 hour service is important with a home insurance company. Ask the insurance company how their claims department operates and whether they have a 24 hour emergency line. Home catastrophes happen at all hours of the day and you don't want to wait until Monday morning to file a claim. If the home insurance company doesn't offer this service you may want to keep looking.

Don't let your home go underinsured by substandard home insurance companies. HomeInsurance.org offers a great service which allows you to get multiple home insurance quotes online from reputable companies by answering a few simple questions so you can make the best decision for your family. Take advantage of our service today and get the home insurance your family deserves.

http://www.homeinsurance.org/

READ MORE >>

The Impact Of Home Insurance Regulations For Oregon Residences

In Oregon, the most important piece of legislation relating to home insurance coverage is the "homeowners bill of rights" passed in 2005. It sets out limitations on what information insurance companies can use to deny coverage, and how a claim is defined. The aim of this legislation was to help the citizens of Oregon obtain reasonable rates for their insurance premiums while still maintaining adequate levels of coverage. This has been a success - Oregon has a state-wide average of $496 per year for homeowners insurance, as compared to the $822 national average.

The issuance of home insurance policies is Oregon is not excessively scrutinized by the state. Every policy will be broken into two sections - "Part One" will cover all property, including the home itself and its contents and "Part Two" will cover liability. This liability is for a circumstance in which someone is injured on the owner's property and will cover an initial payout to that person. It may also cover ongoing medical expenses. Every homeowner will have the option to add coverage to their policy as they so desire, for example "umbrella" coverage which will provide coverage in excess of the basic liability protection.

While the state of Oregon gives insurers a fair amount of leeway in terms of what can be offered in their policies, the government has codified law to prevent companies from taking advantage of consumers and from failing to pay out in the event that the insurance company becomes insolvent. The Oregon Insurance Guaranty Association (OIGA) was created under state law and is a conglomerate of insurance companies. This association will act if a homeowner's insurance provider goes bankrupt and cannot pay out the claim owing. OIGA will pay the same amount as would have been paid by the initial insurer.

Oregon law also includes the "homeowners bill of rights", as mentioned above. This is an effort to prevent insurance companies from unfairly penalizing consumers. Included in the bill are provisions that prevent insurers from looking back on a client's entire home insurance claim history, instead limiting them to a period of five years. Similarly, insurance companies are not allowed to cancel or not renew a policy in the first five years because of a single claim made against it. As well, homeowners are protected if they wish to make inquires about their insurance policy while deciding whether or not to file a claim. Prior to this legislation being enacted, some insurance companies would treat any inquiry by clients as a claim, with the same penalties and premium increases which that would entail. While Oregon does not strictly regulate insurance types, its general legislation seeks to aid homeowners in their dealing with insurance companies.

http://www.homeinsurance.org/articles

READ MORE >>

The Impact Of Home Insurance Regulations For South Dakota Residences

Under South Dakota law, homeowners insurance is provided to the public with little to no regulation from the government. South Dakota has no specific acts which prohibit insurance companies from not renewing client's policies based on number of claims filed, current financial circumstances, or credit score. While the South Dakota Division of Insurance does minimally regulate insurance premiums, owners are largely left on their own to make sure that they are getting a fair deal for their home insurance coverage.

Coverage in South Dakota is broken up into five broad "forms" which are sold by insurance companies in the state. These are not forms in the paper or computer sense, but rather designations of different levels of coverage. The most basic is known as HO1 or "basic form" and covers only the hazards specifically listed in the policy. Most of these are hazards which could cause serious financial hardship, such as fire or theft from the home. HO2 or the "homeowners policy form" offers the same coverage as the HO1, but with additional coverage for the home and personal property against falling ice or snow, and some kinds of water damage (excluding floods). While this type of coverage is often referred to as being "broad", it does not cover as much as the next level up, HO3.

HO3 or "special form" covers all types of loss that could happen to a home, with a few exceptions that are specifically noted in the policy. This is a marked difference from the first two forms in which only items listed in the policy would be covered. HO3 offers a far broader range of home insurance coverage, with the exception of events such as war or nuclear radiation destroying the home. It is important to bear in mind, however, that while the level of home insurance increases with an HO3 policy, the amount of coverage offered for personal property does not differ from an HO2. That type of coverage must be purchased separately and as an add-on from the insurer.

In South Dakota, insurance companies have the option to not renew a client's policy if they make more than one home insurance claim during the term of the agreement. In fact, some companies will refuse to renew even after a single claim has been filed. There is no standardization in this field, and every consumer should be very clear on exactly what criteria will be used to both issue the policy initially, and how it can be cancelled. Under the Fair Credit Reporting Act, insurance companies can use credit history to influence insurance decisions, so it is well worth it to be extremely knowledgeable about all details of any home insurance policy.

http://www.homeinsurance.org/articles

READ MORE >>

The Impact Of Home Insurance Regulations For Washington State Residences

Homeowners insurance in Washington state is regulated by the Office of the Insurance Commissioner. Unlike some states such as Texas, which has chosen to mandate what each type of home insurance policy must contain, Washington state has taken a more relaxed approach. There are certain standards which insurers are expected to meet but most of the details and day-to-day functioning of home insurance coverage in Washington is handled at the private company level.

The greatest concern to consumers is how rates are determined and if they can increase without notice. Washington state law requires insurance companies to submit requests for rate increases directly to the Commissioner, and to provide financial data which justifies the proposed rate increase. If they cannot do so, the request will be turned down. If, however, the state can find no issue with their request and the data is sound, they are obligated to approve it. Although the state acts as a check against unreasonable premiums in this case, it cannot reject rate increases simply because they are unpopular.

Home insurance rates in Washington are based on a number of factors including the home's "territory rating", which takes into account natural disasters and crime rate in the area. As well, premiums are calculated based on the age of the home and what material it is built out of. Insurance companies also choose to use credit scores as a reason for high premiums, which they are allowed to do under the Fair Credit Reporting Act. However, in 2003, Washington passed its own legislation limiting how insurers could use this information to affect consumers. After January 1, 2003, insurers could no longer cancel or not renew a policy based on a customer's credit history. They were also prohibited from using the number of credit inquiries a customer made on their own accounts or the total credit available to a customer to deny coverage. After June 30, 2003, insurance companies were also required to retroactively alter premiums if the wrong credit information was used and also to notify clients of what types of credit data were being used to set their premiums.

While insurance companies still have the right to not renew policies after multiple home insurance claims or if the policy holder commits forgery or fraud, these laws helped to protect citizens of Washington from unfair premium requirements. As a result of the legislation in place in Washington, it enjoys lower overall costs for insurance than many other states. Washington also suffers from fewer natural disasters than many other states, with only a few counties mandated to have flood insurance on their policies. Overall, the policies in place in Washington result in fair rates for the services offered.

http://www.homeinsurance.org/articles

READ MORE >>

The Impact Of Home Insurance Regulations For Texas Residences

Homeowners insurance policies in Texas falls into four broad categories - HO-A, HO-B, HO-C and Approved Alternative policies. The three HO policies are regulated by the office of public insurance, and each of these policies will be written the same way regardless of which insurance company issues them. Two identical policies may vary widely in price, however. Approved Alternative policies can offer specialized levels of coverage, but must be approved by the state commissioner of insurance in writing before they can be sold by an insurance company.

Most home insurance coverage in Texas is actually a blend of five different types of coverage. The first three are dwelling, personal property and liability. Dwelling coverage is used to cover damages to a homeowners residence, personal property coverage pays for items which are stolen from inside the home, and liability pays out if the homeowner is found to be responsible for injury to another party in the home. The last two types - loss of use and medical payments, pay out sums of money over time if either the property can no longer be lived in, or if someone on the property is injured and requires medical care. Medical payments typically only cover up to $500 and loss of use between 10 to 20 percent of the total home coverage.

HO-A policies are the state's most basic. They have very low limits of coverage for both a house and its contents. These can be upgraded to HO-A "amended polices", which include specific types of add-on coverage. HO-B policies are the most typical. They include coverage for most types of damage and offer the best value for the money, but not every insurance company will offer an HO-B policy. HO-C policies are the most expensive, but also offer the highest payout in the event of a home insurance claim. Both HO-B and HO-C policies offer "replacement cost" coverage for a home, meaning that they will payout the cost to rebuild the home at current market price, up to the maximum dollar limits of the policy purchased. HO-A policies provide only "actual cash value" coverage, which means that a policy holder is entitled only to the replacement value of the home, less depreciation. The older a home, the smaller this value will be.

Texas home insurance policies do not include coverage for floods or hurricanes, although both of these types of coverage can be purchased separately. Hurricane insurance can be obtained via the Texas Windstorm Insurance Association, but a new policy cannot be obtained once a hurricane enters the Gulf of Mexico. In Texas, insurance law makes it essential to balance premium cost with coverage levels, especially in the event of a total loss.

http://www.homeinsurance.org/articles

READ MORE >>

The Impact Of Home Insurance Regulations For Tennessee Residences

Homeowners insurance in the state of Tennessee is regulated by the Department of Commerce and Insurance, which is responsible for ensuring that companies act in accordance with laws created by both the state and federal governments.

In Tennessee, the amount of coverage offered by insurers is largely left up to the companies themselves, unlike some states which mandate that certain coverages be included in a policy. In fact, homes in Tennessee are not required by law to carry home insurance coverage, but any financed property will likely do so at the request of the bank or lending institution. One important thing to bear in mind about owning a home in Tennessee is that the state does have reputation for severe weather. In the first eight years of the twenty-first century, there were eleven severe storms declared in the state, nine of which resulted in significant flooding damage to property. For this reason, it is recommended that any insurance policy purchased in Tennessee cover the full replacement cost of a home, rather than its market value. Insurance companies all have different formulas for determining replacement cost, but most use factors such as the age of the home, its size, and what materials it was constructed out of. Replacement cost means that if the home is destroyed and a home insurance claim is filed, the insurer will pay the policy holder what it would cost to rebuild their home under current conditions, up to the maximum limits specified in their policy.

Despite the major damage caused by floods in the last decade, flood coverage is not standard on Tennessee insurance policies and must be purchased as an add-on. This is true even for those areas designated as "flood zones". Coverage outside of a flood zone will be extremely cost-effective and can bring peace of mind should a storm come that way. Coverage within a flood zone will not be cheap, but may prove necessary.

Homeowners policies in Tennessee are divided into basic types, the most common for homes being HO-1, HO-2 and HO-3. HO-1 covers a home from six basic perils such as fire and lightning. An HO-2 policy will cover these six and 11 more perils including electrical damage and damage from falling objects. The most popular type of insurance in the state is HO-3, which covers all 17 perils listed under HO-1 and HO-2 policies. The only items listed in the policy itself will be those things it excludes, such as war or earthquakes. HO-3 policies are often called "broad" for this reason. Home insurance regulations in Tennessee make it worthwhile for consumers to shop around and find a company that offers broad coverage at a reasonable price.

http://www.homeinsurance.org/articles

READ MORE >>

HOME INSURANCE

What is Home Insurance?

Home insurance, also commonly called house insurance or homeowners insurance, household insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to buildings, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home.

At Active Insurance we recognise the need to protect your home, which is why our house insurance comparison tool allows you to compare home insurance quotes from multiple home insurance companies to get you the best buildings and contents insurance price available.
What type of Home Insurance policy do i require?

There are three types of basic home insurance covers available:

*
Buildings Insurance - Covers the value of the dwelling itself (not including the land).
*
Contents Insurance - pays for damage to, or loss of, an individual’s personal possessions whilst they are located within that individual’s home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder.
* Buildings and Contents Insurance - Cover both combination of buildings and contents.

Can I get an online Home Insurance Quote?

Active Insurance provide competitive home insurance online via our website http://www.activeinsure.co.uk. There are a number of relevant questions asked and then an immediate house insurance quote is provided. The full terms of the policy are clearly displayed together with policy excess and the key fact document is available to view. If you wish to proceed with the quote then you can also purchase your home insurance online.
Can I phone you for a Home insurance quote?

We are based in the UK and have a dedicated home insurance department with experienced account handlers ready to take your call. The benefits of a phone quote are that we are able to tailor a policy for your individual requirements and could be able to provide larger discounts. Contact us on 0844 477 9805 / 0208 646 7498
What types of property can i insure?

Almost any type of property. We have schemes in place to cover most types of houses.

* Standard Homes
* Executive High Networth House - Rebuild value in excess of £750K
* Unoccupied, vacant, empty properties, both residential and commercial
* Landlords Let Property and Landlords Portfolios
* Thatched Roof House
* Flat Roof Homes including 100% felt on timber roofs
* Properties with previous subsidence history
* Homes with previous flood claims
* Ex-Offenders Home Insurance
* Adverse Claims History
* Contents Only Policy or Buildings Only
* Timber framed homes
* Call us on 0844 477 9805 for any type of property risk.

Can i insure more than one property on my home insurance?

Yes..
I run a home business. Can i still get home insurance cover?

Yes
I am a landlord and have some residential lets, commercials and some properties are vacant. Can i get a landlords portfolio insurance?

Landlord insurance is a specialist area and we have a dedicated let property insurance team able to service your requirements. Please contact us or visit http://www.activeinsure.co.uk/landlords-insurance.html
Do you also insure homes with a thatched roof?

Yes
Do you insure timber build or timber framed homes?

Yes
I have been refused house insurance due to too many claims. Can i still get buildings and contents insurance?

Yes

http://www.homeinsurancecompare.co.uk/

READ MORE >>