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Learn how you can secure your Michigan home against unexpected perils like breaking winds, uncontrollable wildfires, and theft in the guide from Shield Insurance Agency below. Talk to a trusted insurance agent to find out how safeguarding your home can reduce homeinsurance costs.
Homeinsurance serves as a safety net when unforeseen circumstances occur. If your home has recently been burglarized and you have homeinsurance, you might wonder if your policy can assist in the recovery process. Does HomeInsurance Provide Coverage for Burglary?
However, amidst the anticipation and creativity that renovations bring, it’s crucial not to overlook the impact they can have on your homeinsurance. Coverage Adjustments Renovations can increase the value of your home, and it’s essential to ensure that your homeinsurance coverage reflects these changes.
Here in Florida unfortunately, we know the incredible damage wildfires can do. Yet today, as Florida residents watch the news in California, seeing how many personal residences are being demolished by the flames, many are wondering what the impacts will be to Florida's already-challenging homeinsurance market.
The Rising Tide of Roof Claims Several factors contribute to the surge in roof claims: Wind and Hail Damage: These elements were the primary drivers of loss costs, accounting for over half of all residential claims in 2024. Aging Roofs: Approximately 38% of U.S. Longer Claim Resolution Times: The average claim cycle time has reached 32.4
You know that your homeinsurance is there to help you recoup your costs and repair damages to your home after an unexpected situation. But does homeowners insurance cover mold? This pesky fungus can cause serious damage to your property, and getting it fully removed can cost a pretty penny.
What if that charming house has a history of costly water damage, roof issues, or even fire damage? This is where a loss history report comes inits like a propertys report card for past insurance claims. A loss history report provides a record of insurance claims filed on a property, typically over the past five to seven years.
Once you purchase your first house and set up a homeowners insurancepolicy , you may think that your insurance needs will be taken care of for as long as you own the house. However, reviewing your homeinsurancepolicy on a regular basis is essential if you want to fully protect your property.
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Now that we are in the thick of the official hurricane season here in Florida, you may have noticed - if you recently tried to bind a new homeinsurancepolicy - that most carriers will stop writing up to a week or two prior to a named storm possibly impacting the state.
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Apartment buildings present unique insurance challenges because of their dense living arrangements, high occupancy turnover, and shared spaces. For this reason, purchasing comprehensive apartment building insurance is one of the best investments your clients can make. The court awarded her a staggering $13 million in damages.
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But heres something we often overlook: what happens if that gift is lost, stolen, or damaged? Most standard homeowners or renters insurancepolicies offer limited coverage for high-value items, often capping jewelry and other valuables at a fraction of their worth. Think of it as a love letter to your most prized belongings.
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The damage is extensive, and tenants are forced to relocate while repairs are underway. Without the right insurance, the landlord absorbs the full financial hit not just from repairs but also from lost rental income. Building ordinance: Helps landlords cover expenses for meeting updated building codes after damage.
When winter weather rolls into town, that means one thing for homeowners: an increased risk of weather-related damage. To limit the impact of harsh, freezing temperatures and blustering blizzards, its important to understand some basic snow home maintenance to avoid having to make a costly homeowners insurance claim.
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Insurance tip: Many policies require a protective barrier like a fence or enclosure. Insurance tip: Equipment failures and pool-related damage (like leaks) are often excluded from homeowners policies if they stem from neglect. Make sure your homeowners policy is up to the task.
Lenders want to ensure their interest in the property is protected if an unfortunate disaster damages it. Our knowledgeable agents at Paragon Independent Insurance Agency in Plano, TX, are here to help. The deductible is one of the most important decisions to make when choosing a homeowners policy. Reach out to us today!
How to Reduce HomeInsurance Premiums without Compromising on Coverage Homeinsurance is many people’s key protector; it provides one with the needed cover once loss or damage occurs. The good news is that one can reduce homeinsurance premiums without necessarily sacrificing the cover that you get.
At its simplest, therefore, a home is a home, whilst let property is a business asset. To understand why landlord insurance is typically more expensive than standard homeinsurance, it might be helpful to go back to the basics of insurance itself.
TGS Insurance » Blog Do You Need to Tell Your Homeowners Insurance About Home Renovations? When taking on new home renovations, your homeowners insurancepolicy might not be the first thing on your mind. However, for many home renovation projects, you will need to inform your insurance agent.
What does a Lift Inspection Policy cover? What does a Lift Inspection Policy cover in conjunction with a Purpose Built Flats InsurancePolicy? Lift Inspection policies will often accompany a Purpose Built Flats InsurancePolicy, and for good reason.
Along with this, mold and water damage often due to leaking pipes, poor ventilation, or roof damageposes serious health hazards if not promptly repaired. However, for more significant violationssuch as major plumbing failures or fire hazardscoverage may be denied entirely, leaving the property ineligible for insurance.
Other common violations include sanitation and plumbing issues , such as leaking pipes that lead to water damage and mold growth, as well as problems with sewage and drainage systems. Landlord insurance which covers both liability and property damageis particularly sensitive to housing violations.
” Plus, of course, the issue of homeinsurance and block of flats insurance costs, which in the UK increased by 21% year-on-year between July and September 2024, according to a report from Compare the Market. Unoccupied flats pose risks like water damage and squatting, which insurers consider when pricing policies.
10,000 in Property Damage Liability (PDL): Pays for damage you cause to someone elses property in an accident. If you cause an accident, you could be personally responsible for thousands of dollars in damages and medical billscosts that proper insurance could have covered.
From financial losses to reputational damage, legal battles, and even the risk of shutting down, the impact can be severe. Damage to Reputation and Customer Trust A liability claim can do more than drain your financesit can destroy your reputation.
Mold & Water Damage are also major concerns; leaks or excessive moisture can lead to mold growth that poses health risks. Landlord insurance which covers both liability and property damageis particularly sensitive to housing violations. What role can insurance brokers play in managing these challenges for their clients?
Reduce the effects of storm damage, burst pipes, gas leaks, flooding, fires, and power outages by following these tips. Emergency home repair #1: Storm damage. Severe winds, rain , tornados , hurricanes , and hail can cause structural damage to your home. Take photos of the damage for your insurance records.
Home Office Desk by Ken Tomita The rise of home-based businesses has been one of the most significant shifts in the modern work landscape. While operating a business from home offers convenience and flexibility, it also necessitates careful consideration of insurance needs.
Overflow of inland or tidal waters, heavy runoff from significant rainfall, collapse or destabilization of land along a body of water due to erosion, or unexpected wave activity can all cause flooding events in your home that aren't covered by your typical HO3 policy.
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Other issues include mold and water damage often due to unrepaired leaks or excessive moisturewhich can create an unhealthy environment. Structural issues including unstable porches, broken stairs, damaged roofs, or cracked wallscan compromise the safety of a building. Insurance brokers are pivotal in this arena.
To feel confident in your policy before you sign, make sure you understand how to read a homeowners insurance quote. How Do You Get a Quote on HomeInsurance, and How Long Does it Take? You can get a free homeowners insurance quote by visiting the carrier website or by consulting an independent agency like TGS Insurance.
Ensure your tiny house is insured against theft and damage. Begin by conducting a comprehensive home assessment, then select residential coverage to include in your insurancepolicy. HomeInsurance Like any other residence, a tiny home is eligible for various types of homeinsurance coverage.
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Then, adjust your insurancepolicy accordingly. Your residential insurancepolicy can list the items you invest in. The insurance coverage will protect against unforeseen damage and theft. Be aware that some events may not be included in a standard insurancepolicy.
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