Schneiderman Insurance Agency, Inc. Blog
As a homeowner, insurance is a necessity, but how much coverage is needed can be a loaded question. We all want to get the most value out of our insurance company, but in some instances, you may be asked by your mortgage company to purchase more insurance than necessary to rebuild your home – leaving you purchasing more coverage than your homeowner’s insurance company would ever pay out in the event of a claim.
What are the differences between HO-3 and HO-5 Insurance Policies? Why is one preferable for the client, and is an HO-5 policy really that much better? (YES!)
Not all insurance policies are created equal. I don’t know how many times I have had a conversation with a potential client about how you can’t just compare insurance quotes at face value or put two declaration pages against one another and consider it an “apples to apples” comparison.
Every policy starts with a quality action insurance plan to determine what coverages are needed and what limits best serve the insured party. Here are some suggestions for developing an action insurance plan for various types of insurance policies.
In this episode, we are taking a much closer, fascinating look at home insurance and the way that you can protect your home should disaster strike. But first, as usual, we start off with a little bit of news. Tom and Ron talk about a survey regarding the lack of knowledge most buyers have regarding closing costs — and Tom reads them the riot act.
Frequently I speak with condo and townhome owners that are misguided as to what they need to properly insure their residence. HOA’s master policies are not sufficient on their own to insure a condo or townhome.
Not included in the master policy is coverage for personal liability, personal property (contents), interior improvements and upgrades and more. Those who do not have an HO6 (walls-in) insurance policy in addition to their HOA master policy are risking more than they realize by not being properly insured – and most who do not have an HO6 don’t even know the difference.
The California Earthquake Authority has made a lot of changes to the coverage the offer effective January 1, 2016. From expanded deductible options or increased coverage availability, much has changed when it comes to the availability of earthquake insurance coverage in California. Learn more here:
Since the recent discovery of a methane gas leak in Porter Ranch, California at the Aliso Canyon natural gas storage facility has received a lot of attention in the news over the last few months little has been discussed of how insurance companies are looking at the situation. Thousands of families have either fled the Porter Ranch community or been relocated due to health concerns as a result of the gas leak. Their relocation has left homes vacant until the leak has been properly fixed. Schools, such as Castlebay Lane Elementary and the newly built Porter Ranch Community School, have been closed indefinitely and relocated to nearby facilities as well.
Many people are unaware that car insurance does not cover personal belongings in your automobile. Even a full coverage auto insurance policy will not compensate you for damaged or stolen possessions. While your car might be covered for damage or theft, only your auto itself is covered. Therefore, the personal property inside the vehicle are not considered part of the vehicle and are not included in its valuation when it comes to an auto insurance policy. Drivers and passengers carry many valuable items with them when on the road, from cell phones and laptop computers, to leather jackets and other valuable items.