25 Jan
Posted by: Admin in: Home Insurance
As we move into 2010 continuing to insure vacant apartments, vacant houses, and vacant townhouses as our specialty, we unfortunately can still say that 9 out of 10 customers had NO IDEA their existing homeowners insurance company does not provide vacant homeowners insurance. In other words they came to us out of last minute desperation. The fact that clients are continually blindsided and blown away proves the homeowners insurance companies are not doing enough to communicate to their clients that they do not insure vacant homes and vacant town houses.
We propose the industry inform clients of their exact policy regarding vacant home insurance at the time of the initial sale. Read more…
Vacant Home Insurance now (.com) saw a massive influx of empty and unoccupied houses in 2009 due to the current economic conditions. The trend is not expected to decrease in 2010 as the amount of homes that sit on the market that cannot be sold is not decreasing in most real estate markets in the United States.
Vacant home insurance is needed when a seller of a home has moved out, and the home has been unoccupied for over 60 days in most instances. What’s more, most sellers do not think there is any problem with this situation and do not even inform their existing homeowners insurance company that the house in vacant! Read more…
21 Jan
Posted by: Admin in: Home Insurance
The severe earthquake that hit Haiti a little over a week ago reminded the Insurance Information Institute (I.I.I.) of the vulnerability of many drivers and homeowners who are more underinsured than they think.
According to the institute, having standard auto or homeowners insurance may not be enough if an earthquake hits, they may also need some form of earthquake coverage.
We have some great articles that address the basics of earthquake insurance, what it covers, and whether you need it. However, to sum it up, earthquake insurance is a type of catastrophic policy that is usually added to a homeowners or auto insurance policy.
Your home warranty?s worth depends greatly on the statement in the insurance contract. There are two kinds of warranties. It is the new home warranty and the existing home warranty. In a new home, many builders will offer a homebuyer a warranty, which is usually good for ten years coverage on the home structure. Some have their own warranties while still others use a third party company. Whichever you choose, the home warranty defines items that are covered and outlines a method for repair requests should there be problems.
A buyer or seller of an existing home may buy a one-year warranty that is the same as an extended contract of service. Read more…
One of the very important insurance policies that a homeowner must be familiar with is the homeowners? insurance. Even if several banks require it when you avail a mortgage, this insurance policy will truly protect homeowners from being caught in trouble in the future.
The standard homeowners? plans take charge of the damages done by disasters like falling trees, broken pipes and other unexpected circumstances. Strong winds are covers unless the house is situated in an area that is normally hit by winds. Homes in coastal areas are good example of this. If you are staying in these places, you will have a homeowners? policy that can protect you and you need to get another plan for this. Read more…
A number of homeowners are suing insurance companies over inadequate Chinese drywall claims.
The drywall issues, which were found nation-wide, resulted in corroded plumbing and sick home dwellers. While thousands of homeowners are known to have been affected by the defective drywall, so far over 700 homeowners have filed a federal lawsuit, seeking indemnification for their losses.
A New York-based law firm, Anderson Kill & Olick, P.C., is representing homeowners who feel that they’ve been mistreated by their insurance companies. According to the complaint, the plaintiffs seek “a declaratory judgment that the insurance companies and the subcontractor insurance companies are obligated to indemnify the losses arising from claims against WCI Communities Inc.