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Homeowners

Landlords and Habitability Claims

In parts of the U.S., the housing market remains locked in a perpetual impasse between high demand and low inventory of affordable residences. In heavily populated states such as California and much of the Northeast, soaring rents have led to overcrowding in multifamily dwellings, which can lead to living conditions more conducive to maintenance and habitability concerns such as sewer… Read More »Landlords and Habitability Claims

Protect Your Special Gifts and Most Treasured Possessions

The most valuable possession that you own is probably your home. It’s also one of the most vulnerable. Weather accidents, floods and property mishaps can easily damage it. But it’s not just the outside structure of your home that’s so valuable. Your contents and possessions inside it also require unique coverage. In this article, we’ll help you learn more about insurance… Read More »Protect Your Special Gifts and Most Treasured Possessions

Marital Status and Personal Insurance

Your particular insurance needs depend, in part, on who you live with and your relationship to them. Most changes to your relationship status will warrant an insurance policy update. If you don’t update that information, your insurance company may have incomplete information about who’s sharing your home or your car, and you may have too little or too much coverage. Insurance Needs for Single or… Read More »Marital Status and Personal Insurance

How Moving Affects Your Auto and Home Insurance

Moving can come with a lot of stress. Not only do you have to figure out moving costs, pack and orchestrate the movers, but you also have to update your address across all relevant forms. Two important things to pay special attention to during this time are your auto insurance and home insurance. No one wants to spend hours getting… Read More »How Moving Affects Your Auto and Home Insurance

How Moving Affects Your Auto and Home Insurance

America is on the move. With many employers required or volunteered to offer their employees to work from home and with the telecom availability, people are leaving their more expensive cities and houses, and moving out to cheaper places. In San Francisco, for instance, the exodus is so big, it’s a major news headline every other day with a special vacancy / rent reduction coverage once a week on all media outlets.

Moving can come with a lot of stress. Not only do you have to figure out moving costs, pack and orchestrate the movers, but you also have to update your address across all relevant forms. Two important things to pay special attention to during this time are your auto insurance and home insurance.

No one wants to spend hours getting new insurance quotes or transferring over insurance information, but doing so will protect you, your home, and your vehicle during and after your move. Here, we’ve answered the most common auto and home insurance questions to help cover your bases during your upcoming move.

Read More »How Moving Affects Your Auto and Home Insurance

Roof Maintenance and Inspection (What to Look For)

One of the most common mistakes homeowners make is to wait until they see a leak inside their home before checking out their roof. After all, why look for trouble, right? Unfortunately, avoiding home maintenance in this manner could cost you a lot more money in the long run.

Roof maintenance should be done each spring and fall and after any major storm that could damage it. Depending on the type of roof you have and your ability to access it, you may want to consider hiring a roof inspector to avoid personal injury.

Roof Styles

As you might expect, different types of styles and materials are popular in various regions because of architectural tastes and weather patterns. Among the most popular styles are:Read More »Roof Maintenance and Inspection (What to Look For)

Standard Flood Insurance Bootcamp – All You Need to Know

As the mountain snows melt, spring rains begin to fall and hurricane season rapidly approaches, it is important to remember that flood insurance typically is not a covered peril in a traditional homeowner’s, dwelling, condo or commercial property policy. As the property market continues to harden in 2020, it is more important than ever to understand your true risk of flooding and confirm you got adequate coverage options to protect what is probably one of your largest assets.

Flooding is the most common and costly natural disaster in the United States, with 90% of natural disasters in the U.S. involving flooding. This isn’t just coastal flooding, either. In fact, 98% of all U.S. counties were impacted by a flood event in 2018.

Yet, most property owners do not think their building is susceptible to flood. Common stances on flood insurance include, “I’m not in a flood zone;” “My realtor told me I am in a preferred flood area;” or “It hasn’t flooded in this area in years.” Because mortgage mandatory purchase requirements exist ONLY for buildings deemed to be in high-risk flood zones, most property owners assume that if it is not required, then the threat does not exist. This could not be more incorrect. The highest-risk areas have at least a 1% annual chance of flooding. To compare, the average chance of a home fire is 0.33%…nearly three times less likely to occur in any given year! Even many low-to moderate-risk areas see an annual risk greater than that of a home fire, with ranges between 0.2% and 1% in the 500-year flood plain.Read More »Standard Flood Insurance Bootcamp – All You Need to Know

Ordinance or Law Insurance Coverage

Generally, Ordinance or Law insurance coverage provides limited protection for costs associated with repairing, rebuilding, or constructing a structure when physical damage to the structure by a covered cause of loss triggers an ordinance or law.

According to Adjuster’s International Disaster Recovery Consulting, compliance with ordinances and laws after a loss can add 50% or more to the cost of the claim*.

Insureds should take a proactive approach to their insurance program and the coverage provided by the program. Learning about important exclusions and limitations after a catastrophe strike will cause the Insured to experience frustration and anxiety. Insureds should always read their policies, and in some states, may be required by law to do so.

Ordinance or Law Exclusion

Most property insurance policies will have an Ordinance or Law exclusion. The exclusion applies to both physical damage and time element coverage.Read More »Ordinance or Law Insurance Coverage