Home insurance can be confusing. The following are some of the most common misconceptions about home insurance in Canada to help you weed through what?s fact and what?s fiction.
Not necessarily. If you have borrowed money to buy your home, chances are your lender will require that you purchase home insurance coverage and maintain coverage for the length of time you owe them money. However, if you own your home outright, you are not obligated to have coverage. Not having home insurance however, is risky and could be financially catastrophic should something terrible happen like a fire.
False. Read more…
For years, you’ve been told that homeowners insurance covers your home and its contents in case something happens, such as a house fire. But what would happen if something caused that fire, such as a contractor who was hired to repair your plumbing starting a fire in your home accidentally? What if the contractor who is replacing the shingles on your roof accidentally dropped a bundle on your neighbor’s car, destroying it? Most homeowners would assume that their insurance would cover these events with these circumstances; however that may not be the case at all.
Does Your Homeowners Insurance Cover a Contractor?
10 Reasons to Buy CIA Let Property Insurance
CIA Let Property Insurance will easily and quickly compare market rates from the UK’s leading let property insurance providers.
Whether you own one property or have an extensive portfolio CIA Let Property Insurance can offer the most competitive policy with the most comprehensive covers available.
CIA Let property is a dedicated specialist providing landlords and property owners/agents with a full insurance solution and service.
1. One month challenge
If you can find the same insurance cover for a better rate elsewhere in the market within 28 days of purchase, CIA will either match the rate or refund the policy in full.
2. Read more…
01 Dec
Posted by: Admin in: Home Insurance Online
In October, we reported that numerous homeowners in a few Southern states had been or were in threat of being dropped from their homeowners insurance policies because they’d reported to their insurance companies that the Chinese drywall in their homes needed repairs (see store here). However, the insurance commissioner in Louisiana is now stepping up to help homeowners who have no other way to pay for their damage.
The Infamous Drywall
Several months ago, homeowners began complaining of foul odors and corroded appliances that were even making some inhabitants sick and unable to live in their homes.
Many think that a home warranty is an unnecessary expense. After all, you can just take care of the property, monitor it regularly and you will not encounter problems. Besides, most insurance companies do not cover everything. You will most likely incur costs when repairs are needed at home. However, it is surely beneficial to invest in a home warranty. You may be careful with your property but unexpected things can happen that will cause damages in your home.
This is a big help when you are to sell your property. Sellers usually include one year home warranty when selling their houses. This makes the sale faster. This is so because the warranty is an added insurance to the buyers. Read more…
27 Nov
Posted by: Admin in: Home Insurance Online
As the people of Cockermouth reel from the flooding of “biblical” proportions which has hit their community, gales blow and rain pours in other parts of Britain. Meanwhile insurance companies are pulling out all the stops to ensure that clients are given every assistance in making a claim and coping with the fallout.
Direct Line for instance has Property Insurance Advisors on site in many locations this weekend to help those affected. They will be giving advice and authorising repairs and alternative accommodation. Extra staff have also been called in to work in call centres, although even with the increased workforce it was expected that callers would have to wait to be attended to, in view of the numbers of homeowners affected by the dreadful conditions.
Florida residents have been battling high homeowners insurance premiums for some time now, but unfortunately prices are set to increase even higher with recent approval to increase the state’s windstorm coverage. Citizens Property Insurance Corp., Florida’s state-provided homeowners insurance company, has been approved by state regulators to increase insurance average rates by 5.2 percent.
Continuous Increases on the Horizon
The increase is said to only affect people who buy wind policies; however, it comes on the heels of an increase approved in Oct. 2009 to insurance coverage premiums by an average of 5.4 percent statewide for customers who buy full-coverage policies.
According to recently-published reports, the windstorm rate change will take place in Feb.
22 Nov
Posted by: Admin in: Home Insurance Online
In real estate, it is usually said that it is a transaction between A, the homeowner and B, the homebuyer. Therefore, there can only be one person who comes out ahead in the end. This type of thinking really makes for a cutthroat type of approach where everyone looks out for his/her own interests. Both parties involved in a real estate transaction have a considerable stake on the outcome of the sale and neither party wants to lose more money or pay more money than they really have to in order to get the deal done.
However, when you think of home warranty benefits, you can actually say that both parties will benefit so that there will be no winners or losers. Read more…
Insurers are warning that around 7 out of 10 of us seriously underestimate the value of our wardrobe when taking out home contents cover.
LV= estimates the value of the average woman’s wardrobe to be a staggering £7,000 which includes £2,000 worth of jewellery and watches. Most of us, on the other hand, estimate the value of our wardrobes to be around £3,000 i.e. less than half the true figure.
Men’s clothes and accessories are perhaps unsurprisingly worth less than their female counterparts at £5000 but this will often include expensive business suits and sportswear.
Read more…
13 Nov
Posted by: Admin in: Home Insurance Online
A new study released in Nov. 2009 showed that Americans are not utilizing all of the discounts available to them when it comes to their homeowner and auto insurance. The study was released by the Independent Insurance Agents & Brokers of America (IIABA) for Trust Choice.
From those surveyed regarding their home insurance policies, 34 percent admitted that they are probably not taking advantage of all of the home insurance discounts they could – or they simply didn’t know that discounts were available.