Does an HO3 Cover a Dwelling Being Built in Another State?
An insured lives in Connecticut but is building a new one-family home on their property in Massachusetts.
Homeowners
Dog Bite Claims Cost $1.6 Billion in 2024, Rising 86% in 10 Years
Dog-related claims have increased significantly in both frequency and cost, according to the latest claims data analysis from the Insurance Information Institute (Triple-I) and State Farm.
Roof Claim Costs Increased 30% from 2022 to 2024
Roof repair and replacement cost value totaled nearly $31 billion in 2024, according to a report from Verisk.
Homeowners Repair Cycle Length Reaches All-Time High
Homeowners claims are taking longer to resolve than ever before with the average claim cycle time—from filing the claim to finished repairs—now 32.4 days, says J.D. Power.
Builders Risk vs. Homeowners Endorsements for Luxury Home Renovation
A client is planning a $400,000 house renovation. Would a builders risk policy be the best option to cover the renovation, or are there specific ISO homeowners endorsements that can be added?
Does a Homeowners Policy Cover a Volunteer Fire Chief for Liability?
The fire chief is a volunteer, and while volunteer activity is included in the policy, the agent believes that the position would still be excluded as a professional service.
Historic Houses: The Modified Functional Replacement Cost Loss Settlement Endorsement
Sometimes, policies with this endorsement are the only ones available to clients, including those with high-value historic homes. What is an appropriate disclaimer to explain this?
What Is a Wind or Hail Buyback Policy?
How do you explain how a wind or hail buyback policy works? And is a deductible applied to these types of policies?
5 Foundational Insurance Concepts Producers Need to Know in 2025
As we head into a new year, there’s no better time to equip producers with foundational insurance industry knowledge and concepts.
Can a Property Manager Be an Additional Insured on Landlord’s DP3 Policy?
A landlord’s property management firm wants to be added as an additional insured to the policy, but the carrier requires that the property manager is listed on the deed.
