Homeowners Insurance

Insurance Journal  May 15  Comment 
Max, Bella and their canine comrades cause more than one-third of all home insurance claims, adding $530 million a year to insurance costs. And while the number of claims is down, the cost of the average claim from dog bites … The article When...
guardian.co.uk  May 11  Comment 
Consumers are not told the higher cost of paying by instalments, the Financial Conduct Authority says, with some being charged interest of up to 75% Consumers who pay for car or home insurance in monthly instalments are being charged interest as...
The Economic Times  Apr 26  Comment 
Claims will come from home insurance policy that provides cover for any damage to the property and contents due to natural or man-made calamities including earthquake.
Insurance Journal  Apr 15  Comment 
The Pennsylvania Insurance Department issued a notice telling insurance companies that earthquake endorsements to homeowners insurance policies in Pennsylvania cannot exclude coverage for earthquakes that may be caused by “human activity” such...
Motley Fool  Mar 31  Comment 
Here are seven ways to lower your homeowner insurance costs.
Insurance Journal  Mar 27  Comment 
Oklahoma Insurance Commissioner John D. Doak announced that more than 1,100 homeowners insurance claims have already been filed following severe weather that marched across the state on Wednesday, March 25. “Tornadoes are a devastating act of...
MarketWatch  Mar 4  Comment 
A little-known clause in most homeowner insurance polices can cause weeks or months of hassle when it comes to getting damage claims paid.
Insurance Journal  Feb 25  Comment 
A bill currently under consideration in the New Jersey Assembly would prohibit insurance companies from increasing the homeowners insurance policy’s premium based on one claim filed during the policy’s coverage period. The Assembly Bill 4170...
Insurance Journal  Feb 3  Comment 
Texas homeowners filed the fewest number of insurance complaints ever recorded with Texas regulators last year, the Insurance Council of Texas reported. It was the fifth year in a row that Texas homeowner complaints have gone down. There are more...
Insurance Journal  Jan 28  Comment 
The Association of British Insurers announced that the cost of home insurance has fallen over the last year according to its latest Average Quarterly Household Premium Tracker, which is based on information from ABI members, who cover 90 percent...


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Understanding Homeowners Insurance

Property Protection

  • Dwelling usually covers the house, any attached structures, house fixtures, plumbing, heating, in-built air conditioning systems and electrical wiring.
  • Other Structures, other than those used for business purposes, covers detached structures like garages, storage sheds and land fixtures.
  • Personal Property covers all personal items in your home that are owned by you or family members who live with you. Protection for these items depends on actual cash value or replacement cost.
  • Loss of Use covers expenses in excess of your normal living expenses should you be forced to live anywhere other than your home during repairs or a government injunction.
  • Endorsements can be added to your homeowners insurance policy at an additional cost to provide extra protection against occurences like theft, inflation, credit card forgery etc.

Liability Protection

  • Personal Liability protects you and family members that live with you from a claim or lawsuit arising from bodily injury or property damage to others caused by an accident on your property. It generally does not provide protection for vehicle- and business-related incidents.
  • Medical Expenses, as the name indicates, pays the medical expenses for individuals who are accidently injured on your property, regardless of who is at fault for the injuries. It does not cover injuries to you or family members that live with you.
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