Remove Insurance Claim Remove Insurance Policy Remove Property Damage
article thumbnail

Protect Your Finances: The Truth About Small Insurance Claims

Shield Insurance Agency

Shield Insurance Blog | Small Insurance Claims | Contact Our Sales Team! Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with.

article thumbnail

The Importance of Experts J&S Welding, Inc. v. Liberty Mutual Insurance Company

The Property Insurance Law Observer

(“Insured”), failed to disclose or produce any expert evidence to rebut the conclusions of the West American’s three experts, who determined the roof’s damage was merely cosmetic. Background In November 2019, West American [1] issued an insurance policy providing coverage for the Insured’s commercial shop buildings.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What’s in a Name (Insured)? Pennsylvania Federal Court Holds Homeowners’ Insurance Policy’s Requirement to Submit to Examination Under Oath Applies Only to Named Insured

The Property Insurance Law Observer

Specifically, the Court affirmed that the duty to submit to an EUO, as included in the insurance policy, applied only to a “named insured” and not an “insured person” and, as such, the named insured’s son failure to comply did not constitute a material breach of the insurance policy.

Insurer 130
article thumbnail

Buying Boat Insurance 101: What You Need to Know

Maritime Insurance International

A common question is whether or not home insurance policies cover boats. The fact is that some home policies do and some do not. If your boat is worth more than the coverage offered by your home insurance policy, purchasing a dedicated boat insurance policy is a good idea. Zero Claims.

article thumbnail

The Importance of Accurate Valuation in Commercial Property Insurance

Bankers Insurance

Depending on the severity of property losses and rebuilding operations, these out-of-pocket costs could lead to major financial setbacks or even bankruptcy. Additionally, property undervaluation can result in coinsurance penalties. 80%) of the property’s value.

article thumbnail

Understanding Consumer Education and Property Insurance

Property Insurance Centre

Equipping policyholders with knowledge and resources ultimately helps prevent claims disputes and improves overall customer satisfaction. One effective way insurers can contribute to consumer education is by including educational materials with insurance policies. An immediate response to property damage is crucial.

article thumbnail

Emerging Property Insurance Trends 2024

Property Insurance Centre

Unpredictable weather events and the rise in natural catastrophes pose significant challenges for the property insurance industry. Insureds are facing substantial property losses, leading to increased financial burdens. Why are outdated property valuations a concern for property insurance?