Nearly every homeowners insurance policy covers burglary – both the damage done to the house, and the cost of lost goods. If you have a policy where these things are listed then you may feel confident that anything you lose to theft will be reimbursed to you. In actual practice it may not be that simple.
To begin with, there is always the deductible to be paid. How high the deductible is depends on you. You will pay a higher premium for a policy with a low deductible. So even if the thieves did damage to your door, for instance, while breaking in, your insurance is not going to cover the cost of that door unless it costs more than your deductible does. Read more…
As the result of an agent selling worthless homeowners insurance policies to Florida residents, dozens of elderly are now at risk of losing their homes, the Department of Financial Services said on Thursday. Numerous complaints were filed against the agent only to reveal that she had been using money received to pay her personal expenses.
Residents Left Without Coverage
According to the department, 50 complaints were filed with the state that residents in Sarasota County had paid their insurance premiums for as long as two years to Debra K. Wanless who was supposed to be providing coverage from Lloyds of London (which is not a regulated carrier in Florida).
Homeowners carrying State Farm insurance will find out in the next few weeks whether they are a part of 125,000 policies that the insurer plans to purge. The major homeowners insurance company originally set out to eliminate over 800,000 policies, but settled on the lower number in exchange for a higher interest rate.
Insurer to Keep 700,000 Policies
In May 2009, we reported that State Farm was to hold a meeting with Florida insurance regulators with the intention of ridding itself of hundreds of thousands of property and homeowners insurance policies.
In the negotiations, the insurer was encouraged keep the majority of its policies.
Me and my husband are in the process of building a new home in Houston,TX and I wanted to know if anybody with experience had any advise into what else we should look into besides homeowners insurance? Is that all that we need?
If you’ve been a homeowner for a while you’re probably already familiar with the ins and outs of buying homeowners insurance; however, if you’re new to the insurance game the legalese (and insurance-ese!) that go hand in hand with any homeowners insurance policy can send you screaming for the hills! Don’t throw in the towel just yet. Here’s a look at the most frequently asked questions about buying homeowners insurance to get you started on the path to finding the protection you need at a price you can afford without having to put yourself in your insurance agent’s debatably trustworthy hands.
#1: Why Do I Need Homeowners Insurance?
The number one question asked by anyone buying homeowners insurance for the first time is why they need homeowners insurance at all. A quick gla
Learn how to properly maintain your home for homeowners insurance in this free video series that will explain all the different caveats of homeowners insurances policies. Expert: Romie Brown Bio: Romie Brown has been an insurance agent for 10 years. He was named one of the top 100 new agents in his company in 1999, 2000 and 2001. He is a 1992 Graduate of the University of Toledo.