The Property Insurance Law Observer

JULY 29, 2024

Actual cash value of the stolen or damaged property less the deductible; or 2. Amount necessary to repair or replace the property with other property of like kind and quality less the deductible. Payment of loss We may pay for loss in money or repair or replace the damaged or stolen property. Emphasis added.

Policyholder 130

Policyholder Damage Deductible Liability 130

TGS

OCTOBER 30, 2024

Imagine discovering after a claim that the policy won’t pay enough to replace your roof or cover water damage. Some may exclude things like flood damage, earthquake damage, or—if you live in coastal areas—windstorm coverage. And don’t forget, certain types of claims—like hurricane damage—can carry their own separate deductibles.

Insurance Quotes 52

Insurance Quotes Home Insurance Deductible Out-Of-Pocket 52

Shield Insurance Agency

AUGUST 20, 2024

Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Many policyholders may be tempted to file a claim for every little incident in the belief that their insurance policy will cover all damages.

Insurance Claim 52

Insurance Claim Claim Protection Out-Of-Pocket 52

Leadsurance

NOVEMBER 19, 2024

How to Reduce Home Insurance Premiums without Compromising on Coverage Home insurance is many people’s key protector; it provides one with the needed cover once loss or damage occurs. Up Your Deductive Your deductible is the cash amount you agree to pay when making a claim, whereas the insurance only kicks in thereafter.

Home Insurance 52

Home Insurance Premium Deductible Insured 52

TGS

OCTOBER 3, 2024

Coastal homes in Florida, for example, face higher premiums due to the increased risk of hurricanes, flooding, and wind damage. These features reduce the risk of significant damage or theft, meaning less risk for the insurance company. Deductible Amount Your deductible is the amount you pay out of pocket before your insurance kicks in.

Premium 52

Premium Deductible Out-Of-Pocket Insured 52

Shield Insurance Agency

APRIL 19, 2024

This coverage pays for damages to your vehicle regardless of fault, meaning that even if you are at fault for the accident, your insurance will cover the repair costs up to the actual cash value of your vehicle, minus your deductible. The deductible is the amount you must pay out-of-pocket before your insurance coverage kicks in.

Auto Insurance 52

Auto Insurance Deductible Out-Of-Pocket Insurance Agency 52

TGS

NOVEMBER 18, 2024

This is in stark contrast to at-fault states, where the driver who caused the accident (or their insurance) is typically responsible for covering damages. While it covers medical expenses, lost wages, and certain other costs, it doesn’t cover property damage to your car or liability for damages to others.

Auto Insurance 52

Auto Insurance Injury Damage Property Damage 52

Protect Commercial Insurance

NOVEMBER 8, 2024

It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries. – Liability Insurance: Covers your business in case of lawsuits due to injuries or damages caused as a result of business operations.

Commercial Insurance 52

Commercial Insurance Commercial Premium Deductible 52

Boyle Agency Insurance

APRIL 27, 2024

Common Factors That Affect Homeowners Insurance Cost Some factors that determine the premium on your Homeowners Insurance are: Deductible – This is the amount of money you pay on a claim before the policy coverage takes over. Deductibles are meant to induce homeowners to take good care of the condition of their property.

Premium 40

Premium Deductible Insurance Insured 40

Frankenmuth Insurance

JULY 25, 2024

What are the coverage limits and deductibles? What deductible do I have to meet before my coverage kicks in? Can I adjust my deductible down the road? What disasters or damages are not covered by this policy? What additional riders and endorsements are available that could benefit my business?

Agents 52

Agents Deductible Premium Claim 52

Prof. Allan Manning

MARCH 11, 2024

Emphasis mine] The reason is that without this extension of coverage the Insurer only has to reinstate that part of the property which is damaged or destroyed. I want to stress that the endorsement only applies if the Insured is forced to relocate ABANDONED UNDAMAGED PORTION OF A BUILDING.

Building 130

Building Damage Premium Risk 130

TGS

NOVEMBER 15, 2024

For example, if your second car is a brand-new SUV, you may want to opt for comprehensive coverage with lower deductibles. Separate Deductibles for Each Vehicle It’s also important to remember that each car has its own deductible. Decide on Coverage Types and Limits Not all cars need identical coverage.

Auto Insurance 52

Auto Insurance Deductible Policy Insurer 52

Protect Commercial Insurance

JULY 26, 2024

Property insurance can protect these assets from damage or loss due to fire, theft, or other covered perils. It provides coverage for third-party bodily injury or property damage claims that may arise from accidents on your premises or as a result of your products or services. It covers legal fees, settlements, and judgments.

Commercial 52

Commercial Insurance Broker General Liability Business Interruption 52

TGS

OCTOBER 3, 2023

Deductibles 8. If you suffer from losses or damages beyond those limits, you will be responsible for paying the rest out of pocket. Deductibles In the event of a worst-case scenario, your deductible is the amount you’ll be obligated to pay out-of-pocket before your insurance will step in to foot the rest of the bill.

Insurance Quotes 52

Insurance Quotes Deductible Home Insurance Out-Of-Pocket 52

Frankenmuth Insurance

SEPTEMBER 26, 2024

When drivers submit claims today, the damages are often more severe due to the unsafe habits mentioned above. Now that you know the reasons why car insurance rates are increasing, we invite you to talk to us about your auto policy and potential savings via discounts, pay frequency, and higher deductibles.

Insurer 85

Insurer Insurance Insured Auto Insurance 85

Freeway Insurance

OCTOBER 8, 2023

It could be an accident, theft or storm damage, for example. Right off the bat, you might have to pay your deductible, which is the amount you agreed to when you got your insurance. Deductibles When you have a car insurance claim, one of the first costs you will face is called a deductible. What Is A Car Insurance Claim?

Auto Insurance 52

Auto Insurance Insurance Claim Claim Out-Of-Pocket 52

Triple-I: Homeowners Insurance

APRIL 5, 2024

The widespread damage incurred from Idalia last year highlighted the importance of being financially protected from catastrophic losses – and that includes having adequate levels of property insurance and flood coverage,” said Triple-I CEO Sean Kevelighan.

Damage 52

Damage Auto Insurance Policy Insurance Policy 52

Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. It may also cover damage caused by burst pipes, subsidence, or accidental damage.

Building 52

Building Insurer Insurance Insured 52

Cover4LetProperty

JANUARY 29, 2024

Essentially, insurance is about risk and a calculation of the probability of loss or damage being suffered by the insured item or items. Risk is assessed with respect to the likelihood of loss or damage leading the insured to make a claim, since the settlement of claims paid out to the insured represent a liability for the insurer.

Home Insurance 52

Home Insurance Insurance Insured Insurer 52

Jackson & Jackson

MAY 23, 2024

Small business insurance covers property damage, liability claims, and employee-related risks. For example, businesses in California’s earthquake-prone areas may consider adding earthquake insurance to their policy to protect their property from potential damage. Start by conducting a detailed review of your business operations.

Small Business Insurance 52

Small Business Insurance Business Insurance Insurer Insurance 52

Scott Insurance

JANUARY 31, 2024

Although individual rates are based on specific factors such as location, credit score, claims history, age of dwelling and deductible, some general trends are leading to higher rates across the board. In 2023 alone, 28 weather events caused at least $1 billion of damage each. What can you do to impact your homeowners premium?

Premium 52

Premium Deductible Insured Insurance 52

Risk Management Monitor

AUGUST 30, 2021

Striking on the same date that Hurricane Katrina devastated the region 16 years ago, Ida caused significant wind damage, storm surge and flooding in Louisiana and Mississippi and has left 1 million homes and businesses without power, including the entire city of New Orleans.

Risk 74

Risk Damage Business Interruption Building 74

American Agents Alliance

SEPTEMBER 4, 2024

When choosing a policy, GeoVera offers both Flexible Limit and Single Limit options that can be tailored to cover various earthquake-related risks, including damage to the home, other structures, personal belongings, and temporary living expenses. Understanding the role of deductibles is crucial in making an informed decision.

Deductible 52

Deductible Insured Insurance Insurer 52

Distinguished

JULY 22, 2024

Theft, damage during transport, or accidental breakage can devastate a collection that has taken years to assemble. So, if a piece is stolen or damaged while being transported for appraisal or exhibition, it likely wouldn’t be covered. We understand the unique risks and how to best insure these special items.

Insured 52

Insured Insurance Insurer Policy 52

Protect Commercial Insurance

MAY 30, 2024

In this article, we will explore different types of insurance coverage that can help safeguard your business from property damage, liability claims, cyber threats, and more. It provides financial compensation to repair or replace damaged property, ensuring that your business can quickly recover from unexpected events.

Cyber 52

Cyber Business Insurance Business Interruption Professional Liability Insurance 52

Scott Insurance

JANUARY 28, 2022

Environmental / Pollution Environmental/pollution policies are available in the market and can contemplate both the first party (property) and third party (general liability – bodily injury/property damage) mold exposure.

General Liability 52

General Liability Deductible Liability Property Damage 52

LexisNexis

AUGUST 27, 2024

Gain an understanding of the similarities and differences between setoff, recoupment, and counterclaims, how they can be utilized in commercial agreements, and their application to a buyer's right to deduction of damages in sale of goods transactions and in bankruptcy proceedings.

Commercial 40

Commercial Deductible Damage 40

Bankers Insurance

MAY 16, 2024

Additionally, more and more people live in wildland-urban interfaces, where homes can be particularly vulnerable to severe weather damage. Homeowners can submit a claim if they are at fault for another party’s losses, such as bodily injuries and property damage. Explore discounts.

Home Insurance 52

Home Insurance Policyholder Out-Of-Pocket Insured 52

Smart Insurance Agents

AUGUST 31, 2024

Complications from impacted wisdom teeth, such as pain, infections, and damage to adjacent teeth, often necessitate their removal to maintain oral health. The costs may encompass deductibles and copayments. Knowing what to expect in terms of deductibles and copayments allows for better financial management and helps avoid surprises.

Out-Of-Pocket 52

Out-Of-Pocket Deductible Insured Insurer 52

American Agents Alliance

AUGUST 22, 2024

The legislation, effective January 1, 2025, will increase the current minimum of $15,000 per claimant and $30,000 per occurrence for bodily injury, and $5,000 for property damage (15/30/5), to $30,000 per claimant, $60,000 per occurrence for bodily injury, and $15,000 for property damage (30/60/15).

Auto Insurance 40

Auto Insurance Agents Broker-Agent Property Damage 40

Jackson & Jackson

MAY 22, 2024

It covers property damage, loss of income, liability claims, etc. For instance, a policy might cover repairing or replacing a roof damaged by a storm or the value of stolen office equipment. Additionally, investors can explore the option of higher deductibles to reduce premiums.

Property Insurance 52

Property Insurance Commercial Property Commercial Broker-Agent 52

ProWriters

NOVEMBER 13, 2024

This incident caused the data access challenges, service interruptions, and damage to revenue and reputation an actual supply chain cyber attack can cause. Knowing policy limits, deductibles, and exclusions is critical. No ransomware attack or other malicious activity caused this outage.

Cyber 52

Cyber Insurance Insured Insurer 52

ProWriters

APRIL 3, 2024

E&O typically covers claims related to professional services resulting in financial harm to a client, while Professional Liability covers a wider range of claims, such as bodily injury or property damage. Coverage limits, deductibles, and other policy terms can be adjusted to align with the company’s nature and size.

Liability 52

Liability Cyber Property Damage Claim 52

Jackson & Jackson

MARCH 18, 2024

The risks surrounding your precious bags are real, from theft to damage due to natural disasters. ” A comprehensive luxury handbag insurance policy typically covers a range of perils, including theft, accidental damage, loss, and even damage caused by natural disasters. . “Why Insure Your Luxury Handbags?”

Insurance 52

Insurance Insured Insurer Insurance Policy 52

Smart Insurance Agents

SEPTEMBER 2, 2024

Understanding Health Savings Accounts (HSAs) An HSA is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs). – Crowns: Applied to protect and strengthen damaged teeth. Contributions to an HSA are made with pre-tax dollars, reducing your taxable income.

Deductible 52

Deductible Insurance Companies Insurance Agent Insurance Agents 52

TGS

SEPTEMBER 11, 2023

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. These can include your home’s coverage, deductible, and type of construction. What Does Wind Pool Not Cover?

Insured 52

Insured Insurance Insurer Out-Of-Pocket 52

Maritime Insurance International

MARCH 3, 2020

A boat insurance policy could offer you coverage for the following: Property Damage. An accident resulting in damage to or loss of your own boat or someone else’s property can be covered. If your homeowner’s insurance does cover your boat, it may only be a small amount of coverage for physical damage specifically. Bodily Injury.

Insurance 40

Insurance Insured Insurer Premium 40