Your home does a lot for you: it keeps you warm and dry, it keeps you safe, and it keeps all your things in one place. Aside from the odd repair or two, it’s holding up and doing its job well.
That’s why it comes as such as shock when your insurance company informs you that your roof age is too old and they are going to drop your homeowners insurance coverage if you don’t get a new one.
Huh?
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If you’re like most people, you don’t examine your insurance documents until you need to make a claim.
And that’s when you’ll notice it.
Your insurance company isn’t paying you enough to replace your totaled car, stating that your policy only reimburses you for “actual cash value.”
It’s a confusing distinction, understanding actual cash value vs. replacement cost is an important part of creating the coverage level you need.
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Just like a Business Owner’s Policy (BOP) combines multiple categories of protection into a single policy, typical homeowners insurance covers three major categories:
It is this last category—theft—that often raises questions, even among veteran homeowners.
May is National Pet Month and, to celebrate our fur-babies, we thought it was important to talk to you about the many types of pet insurance available to you as an animal lover.
So if you’ve ever found yourself wondering if you can insure your pet or asking yourself “what is pet insurance exactly?”, you’ve come to the right place.
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Insurance companies really (really really) hate unpredictable risk.
After all, “unpredictable risk” means “claims.” And “claims” involve giving you money.
(No one likes to give away money. Not you. Not your insurance company.)
Predictability means the insurance company can charge you reasonable prices and pay their claims. But getting insurance for a vacant home often means more unpredictable risk.
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