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Block of Flats Insurance Glossary of Terms

Property Insurance Centre

Importance of Accurate Declared Value It is vital that the block management company ensures the flats are insured for the correct rebuilding cost , as this value can increase each year depending on rising costs of materials and labour, as well as new building regulations. damage caused by a leak). This can apply to a total loss (e.g.

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Do You Own a Townhome? If so, you may be over-insured!

Wren Insurance Agency

For example, if your bylaws state that your HOA covers roof replacement, it is likely you will only need to purchase condo insurance, or a "walls-in" HO6 policy to cover your personal property and items within the unit itself like walls and fixtures. This is also something we can help guide you through.

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How to Read Homeowners Insurance Quotes

TGS

The quote will be based on many factors, including your home’s age, building features, location and size, as well as your insurance score. If you suffer from losses or damages beyond those limits, you will be responsible for paying the rest out of pocket. A lot of factors go into calculating your home insurance premium.

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The Insurance Industry Faces Growing Wildfire Risk in California

American Agents Alliance

These wildfires have caused historic damage, claimed lives, and threatened communities. Building resilience in local communities is another way Californians can be proactive when facing changing regulations and increasing wildfire risk.

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South Carolina Wind Pool Insurance Explained

TGS

This will include dwelling structure, personal property, loss of use, and increased rebuilding costs. This covers any damage caused by wind or hail events. With replacement cost coverage, a flood policy must also be active at the time of the damage, or else there will be actual cash value coverage.

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Why Regular Home Insurance Policy Reviews Are Essential 

Freeway Insurance

If you do a major project on your home, such as building a new addition to expand your family, youll want a plan that accounts for this added value to your home. Similarly, if someone moves out of your house, you may no longer need a high limit for your personal property coverage. How Often Should I Update My Home Insurance?