Debris removal insurance is a type of home insurance that helps cover the costs of removing debris from your home in the event of a covered loss. This type of insurance can help cover the costs of hiring a professional debris removal service, as well as the cost of renting or buying the equipment needed … Read more
An abandonment clause is a provision in a home insurance policy that allows the policyholder to receive a partial refund of premium if they cancel their policy early. This refund is typically calculated based on the number of months remaining on the policy. What is an abandoned claim? An abandoned claim is a claim that … Read more
Homeowners Insurance Coverage: When Fire Insurance Isn’t Enough Why are fire insurance claims rejected? There can be many reasons why a fire insurance claim may be rejected. The most common reason is that the cause of the fire is not covered by the policy. For example, if the fire was caused by an act of … Read more
Valued policy law (VPL) is a law that provides that, in the event of a total loss of property insured under a policy, the insurer will pay the policyholder the face value of the policy, regardless of the actual value of the property. In order to collect under a VPL, the policyholder must prove that … Read more
Blanket insurance is a type of insurance that provides coverage for a wide range of risks. It can be used to insure a home, a business, or a vehicle. Blanket insurance can be very helpful in protecting against a variety of risks, but it is important to understand the limits of coverage before purchasing a … Read more
An “act of God” is defined as a natural disaster that is beyond human control, such as a tornado, hurricane, or earthquake. This type of event is not covered by home insurance policies, as it is considered to be an unforeseeable and unpreventable circumstance. What are the common terms of property insurance? There are a … Read more
Floater insurance is insurance that covers property that is not permanently attached to your home, such as jewelry, art, or electronics. It is typically purchased as an endorsement to your homeowner’s insurance policy. What is endorsement in home insurance? An endorsement is an addition or amendment to your home insurance policy that changes the terms … Read more
A notice of non-responsibility is a notice that is typically sent by an insurance company to a policyholder after the company has determined that the policyholder is not responsible for a claim. This notice may be sent after an investigation into a claim, or it may be sent after the insurance company has reviewed the … Read more
When you purchase a property insurance policy, you are buying protection for your home or business in the event of damage or destruction. The amount of coverage you purchase will determine the amount of protection you have. A property insurance policy will cover the cost of repairing or rebuilding your home or business, up to … Read more
A behind first-loss policy is a type of insurance policy that reimburses the policyholder for losses that exceed the amount of the deductible, up to a specified limit. The policy pays out after the policyholder has paid the deductible, and up to the limit of the policy. What is the possibility of an unfortunate event … Read more
