Property Insurance Coverage Law

AUGUST 18, 2024

Property damage insurance claims funding by factoring companies is a relatively recent phenomenon in the property insurance claims industry.

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Property Insurance Insurance Claim Claim Property Damage 116

Shield Insurance Agency

AUGUST 20, 2024

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.

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Insurance Claim Claim Protection Out-Of-Pocket 52

The Property Insurance Law Observer

SEPTEMBER 16, 2024

Subsequently, West American issued payment for the damages it deemed to be covered and non-cosmetic. Despite arguing otherwise, the Insured did not produce any expert evidence regarding the cost to repair or replace the roof or the tools and electrical equipment that the Insured claimed were also damaged.

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Insurance Companies Damage Insurance Insurer 130

The Property Insurance Law Observer

MARCH 18, 2024

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.

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Bankers Insurance

NOVEMBER 15, 2023

Property damage: Burst pipes and malfunctioning sprinkler systems can result in substantial water damage to a building’s structure, interior, and equipment, incurring significant repair costs. Failure to uphold a functional sprinkler system can lead to legal compliance problems, fines, and penalties.

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Property Insurance Centre

MARCH 19, 2024

An immediate response to property damage is crucial. Policyholders should be educated on the importance of documenting damage as it occurs, including taking photographs or videos of the affected areas. This documentation serves as evidence and can support their claims.

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Property Insurance Policyholder Insurance Insurer 52

Bankers Insurance

AUGUST 8, 2024

For example, if an insured’s property is valued at $1 million, but their coverage limit is $700,000 and their policy includes an 80% coinsurance clause, they would likely receive only $43,750 after incurring $50,000 in property damage from a covered event, depending on when their deductible is applied (700,000/800,000) x 50,000 = 43,750).

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Commercial Property Property Insurance Commercial Out-Of-Pocket 59