Homeowners rely on replacement cost endorsements to cover the full value of household items and home features. However, frequently and ever increasingly, they find that their coverage is not adequate.
This week, Nationwide announced it is pausing writing business in certain lines of insurance, joining the list of insurers who have withdrawn from markets.
Supplementing a standard homeowners policy with a personal article floater or endorsement policy can provide essential coverage for clients.
“In the past few years, there have been a number of new high-rise condos that have been completed and more are on the way,” says independent agent Sharilyn Tanaka. “Ensuring that each unit owner has the appropriate insurance is our mission.”
A carrier is saying an electric surfboard is a hovercraft, but the the agent argues that an electric surfboard would be a watercraft, less than 50 horsepower, and therefore would be covered under the homeowners liability.
Filing a claim against a homeowners policy can be both a complicated and costly matter, but can be made significantly less costly when agents provide advice on how to avoid the worst claim mistakes.
CoreLogic’s “2023 Hurricane Risk Report” provides a detailed look at what’s at stake for the U.S. as hurricane season commences.
State Farm cited the hard market and protecting the company’s bottom line as the reason for the withdrawal.
As economic anxiety increases and the hard market pushes insurance premiums higher, 51% of consumers said they are looking for ways to save money on their existing insurance policies.
To grant a permit for a driveway, the county is requiring the property owners to add the county as an additional insured, which the carrier won’t do.
