HOW ARE MY HOME RATES DETERMINED?
Ever wonder why you pay hundreds of dollars more for your home insurance than someone you know across town who owns a home you feel is very similar to yours? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from home to home…. […]
Sinkhole vs. Catastrophic Ground Cover Collapse
Sinkhole vs. Catastrophic Ground Cover Collapse Recent legislation (the first 2007 special legislative session) changed the landscape of insurance relating to sinkhole coverage for property policies of admitted carriers. Before looking at the changes though, it’s important to take a quick look back in history to see “how it used to be.” Prior to the […]
Need for Renters Insurance
If you do not own the place where you live, you need renters insurance. Renters insurance is like homeowners insurance – only it is for renters. This insurance will help you replace items that are damaged or stolen. The liability insurance included in the policy will help protect your assets and savings. Up to a […]
HOW ARE MY AUTO RATES DETERMINED?
Ever wonder why you pay twice as much for your car insurance than your neighbor or your brother? You have an old car, he has a new one; so what’s the difference? Here are a few of the factors that make up the way premiums are influenced and why they vary so much from person […]
COMMON AUTO INSURANCE TERMS
ACTUAL CASH VALUE: The amount paid for property damage losses, usually equal to the cost of replacing the damaged vehicle, minus depreciation for wear and tear. ANTI-THEFT DEVICE: A device, either active or passive, that attempts to prevent vehicle theft. A passive device is one that turns on automatically. An active device is one that […]
COMMON HOME INSURANCE TERMS
ACTUAL CASH VALUE (ACV): The amount needed to repair or replace the damaged portion of your home (or your contents) after depreciation. ACV is computed by subtracting depreciation from the replacement cost. ADDITIONAL LIVING EXPENSES: Pays expenses over and above your normal living costs (motel rooms, restaurant meals, laundry service) while your home is being […]