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9 Tips… How To Deal With Insurance Adjuster After A House Fire

Learn how to deal with insurance adjuster after a house fire is overwhelming for policyowners. The process involving countless meeting,  lots of paperwork and boatload of unknowns. Will explain more below. Your First Meeting with Company Adjuster During your first meeting with your insurance adjuster. It’s normal they ask several question regarding the fire. Some of …

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pipe bursting

Pipe Bursting… Discover if Your Personal Property Covered By Insurance

As a homeowner, understanding your insurance policy and whether you are covered for pipe bursting. We will discover if your personal property is covered. Let’s peel back the layers of a basic homeowners policy and get some answers. The Personal Property The Smith family, who was a middle-aged couple, received an inheritance of personal property …

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subrogation definition

Subrogation, After Appliance Fire What to Expect

Starting with the dictionary, subrogation definition is the substitution of one person or entity for another, especially when substituted party becomes responsible for a debt or legal claim. Simple definition is the process of recovering amounts paid under an insurance policy by a third party. Definition used by the insurance industry is the right of the …

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How To Get the Most from Valuation Methods

Insurance policies have different valuation methods and insurance companies have different markets, guidelines, options, strategies and customers they want to attract. Having a proper understanding and comprehend of these valuation methods will help you decide which is the best policy to purchase.  Actual Cash Value/ACV The basic valuation methods can be found in real estate policies. By taking the …

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Deductible Choices

Deductibles can be defined as the amount of money a policyholder has to pay out of their pocket for damages or loss suffered before the insurance company settles the claim. If a claim is filed,  the amount considered will be subtracted from the total amount claimed. Let’s assume, you have deductibles of $1,000 and file for …

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Demand Overhead and Profit/ O&P

When you don’t get оvеrhеаd аnd рrоfit (O&P) уоu could lоѕе tеnѕ оf thоuѕаndѕ of dоllаrѕ which you are еntitlеd to соllесt. Yеt many policyholders find themselves fоrсеd to use ѕаvingѕ or bоrrоwеd mоnеу tо соmрlеtе repairs. This ѕhоuld not happen in most cases. Depending on your policy you should not have to соmе оut of …

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fire hazards

Fire Hаzаrdѕ and How to Prevent

Fire hazards exist in еvеrу hоmе, аlthоugh some potential ѕоurсеѕ of fires аrе lеѕѕ obvious than оthеrѕ. It iѕ important for hоmеоwnеrѕ аnd rеntеrѕ to be aware of the riѕkѕ of firеѕ аnd tо tаkе аdеԛuаtе ѕtерѕ tо рrеvеnt thеm. Aссоrding tо thе U.S. Firе Adminiѕtrаtiоn, thеrе аrе аlmоѕt 400,000 residential firеѕ еасh уеаr across the nation, …

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Collapse Defined

Under standard property insurance forms, the term collapse has undergone several changes both as an peril and an exclusion. Perhaps the most perceived way to define collapse is as a ”loss of actual shape, the sudden fall, or flattening of a building into a heap of rubble”. Note that the definition does not indicate a …

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Vacant House

How Vacant Property Affect My Policy

Define vacant property lacks sufficient furniture for an individual to reasonably occupy. Void of presonal items and people. The occupant has moved or no longer there. An indication would be the sparse furnishings, lack of daily conveniences and proper appliances causing very uncomfortable living conditions. Unoccupied Defined Unoccupied when property voids people. There can be …

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