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Court Differentiates Vandalism from Theft in First Party Insurance Policy

The Property Insurance Law Observer

The Court considered whether the Plaintiffs’ loss was caused by theft or vandalism, as neither term was defined in the policy. On November 20, 2021, after the home was vacant for an extended period of time, unidentified individuals broke into and damaged Plaintiffs’ property, taking various items. Allstate Vehicle & Prop.

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How Automatic Water Shut-off Systems Can Help Homeowners Avoid Costly Water Damage

Scott Insurance

Water damage, one of the leading and most costly causes of property damage in the U.S., However, many homeowners are unaware of one simple solution that can prevent damage, save them money and give them peace of mind. Often, water damage inside the home is caused by leaks in the plumbing system.

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Fifth Circuit Holds That Sales Tax is Not a Component of Actual Cash Value

The Property Insurance Law Observer

Actual cash value of the stolen or damaged property less the deductible; or 2. Payment of loss We may pay for loss in money or repair or replace the damaged or stolen property. If we return stolen property we will pay for any damage resulting from the theft. Our limit of liability for loss will be the lesser of the: 1.

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Commercial Insurance Strategies To Protect Your Business

Paragon Independent Insurance Agencies

Protection against damage and theft shields you from financial losses that could affect your business sales. For instance, if theft recurs, it might indicate a need to enhance your business security by investing in safety devices such as security cameras and lights.

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Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction. In this case, the owner is covered for the physical damage to the property (e.g., damage to the structure under construction).

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10 Factors That Affect Homeowners Insurance Premiums in Florida

TGS

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. Location, Location, Location Where your home is located has a huge impact on your premium.

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UNDERSTANDING PROPERTY CASUALTY INSURANCE IN NJ

Boyle Agency Insurance

Property Casualty Insurance is insurance that combines protection for property owned by you, such as a house, or personal possessions, and liability insurance for if you ever cause an accident that injures another person or damages another person’s property.