A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Face Amount is the fixed-amount of value for a whole life insurance policy. The actual amount to be paid in the even of death or at maturity of a life insurance policy, not including any dividend additions or additional amounts payable under an accidental death clause or other provision of the life insurance policy. FAIR Access To Insurance Requirements Plans–FAIR PLANS … Continue reading
Homeowners insurance is the best way to protect your personal property whether you own or rent a home, manufactured home, townhouse, or condominium. When reviewing your insurance policy it’s a good idea to understand what kind of Homeowner Form your insurance policy is written on. Home-owner’s policies are classified by the type of perils they cover. There are six basic types of homeowner insurance policy forms which tend to be defined by the Perils they cover: HO-1: is the basic homeowners insurance form. Also known as a Standard Fire Policy An HO-1 policy covers a dwelling (the actual structure of … Continue reading
The traditional and most time-tested property insurance policy offers coverage for fire and a few other specifically named perils. Standard fire policies are commonly known as the “165-line policy” because of the standard form (format and language) used to offer property insurance in most states. These policy forms are not complete, they require additional forms and endorsements to be added in order to cover boarder coverage for other direct and indirect risks. Homeowner policies typically start in with the Standard Fire Policy as a base for coverage insurance companies often combine coverage to create more complete package policies such as … Continue reading
There are many reasons power to a home can be disrupted. The best way to avoid losses caused by power outages is to be prepared and understand what steps you can take to reduce risk of secondary losses. Homeowners should have regular inspections of the interior and the exterior electrical wiring. Surge protections and understanding how to prevent damage to personal property is a vital preventative measure. In some areas of the country, an alternate power sources, such as generators, maybe a good idea, especially where electricity is needed to pump water from their private wells or run medical equipment. … Continue reading
Lightning can strike anywhere, and in some cases without much warning. While homeowner and renter policies protect against lightning, some sensitive property such as electronic and computer equipment may not be covered the way an insured would hope. I once had to replace an electronic control for a relatively new furnace due to the electrical surge caused by a lightning strike. When it comes to lightning it’s up to each homeowner to decide how to manage this risk. Some of the most costly damage caused to personal property may not be covered, and there are ways to reduce the risk … Continue reading
Homeowner and renter insurance policy holders should check their policy and be sure to understand what is and what is not covered when the power goes out. Short power interruptions often cause damage to personal property and houses. The most common and expensive damage happens when the power comes back on and a surge of electricity floods the open circuits in the house. A large blast of electricity can cause computers to lose data, electronics to overheat, malfunction of household electronic equipment such as heating systems and alarm equipment. Sometimes a surge can cause fires or the loss of electricity … Continue reading