How Depreciation Can Affect Your Insurance Settlement Offer

The value to replace your home, contents, or any additional structures depends on what type of policy you have, and what needs to be replaced. Over time, both the structure and the contents will be subject to wear and tear. This depreciates the value of those structures and objects. Much like a new car driven…

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Common Pitfalls Policyholders Face in the Event of a Loss

It’s tempting to think if you buy a standard policy that you’ll be covered for all types of damage from hurricanes, fires, theft, tornadoes, and any type of natural disaster or accidental damage. Coverage, though, is a broad term. The insurance company will make every effort to limit your claim. The best remedy is to…

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Fires Cause More Than Just Burn Damage

Fires start from any number of causes, but most begin in the kitchen from unattended cooking. You get a phone call, the doorbell rings, the dog barks – you get distracted. Candles are another catalyst that causes an average of 8,200 structure fires per year. Whether you fall asleep with a personal heater running in…

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Insurance Concerns for Non-Profits and Places of Worship

Insurance should be a straightforward transaction. For example, after a car crash, you tell the insurance company what the make, model, and year of your car is, and they pop out a figure based on risk. A homeowners’ claim is a little trickier, because you have to estimate the value of the structure, your personal…

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What to Know about Filing a Supplemental Insurance Claim

Homeowners’ insurance is never fun to deal with, especially when you find yourself with property damage. It disrupts your already busy life with filling out forms, dealing with an agent or adjuster, possibly being displaced from your home for a time, and waiting for claims to be paid so you can start the process of…

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The Importance of Appearing for an Examination Under Oath

When you are filing a claim with your insurance company due to property damage and property loss, you may need to attend an Examination Under Oath (EUO). During the examination, someone from the insurance company is going to need to ask you a series of important questions. When answering these questions, you must make sure…

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What Is Misrepresentation, and How Can It Void Your Policy?

Misrepresentation involves the act of improperly answering specific questions that were on the application you initially completed to obtain an insurance policy. If a question is answered incorrectly, or if you give a false statement, the insurance company may have approved the purchase of a policy that they would have normally denied – and it…

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What Is Typically Covered in a Homeowners’ Policy?

If you’re buying a home, you’re going to need homeowners’ insurance. It’s not always legally required by the state, but mortgage lenders mandate that you have this type of policy. Homeowners’ insurance is designed to protect you if you sustain losses and damage to your property and your belongings. Named perils vs. all risk homeowners’…

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