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Homeowners vs. Builders Risk: What’s Best During Home Construction? https://www.iamagazine.com/strategies/homeowners-vs-builders-risk-what-s-best-during-home-constructionHomeowners vs. Builders Risk: What’s Best During Home Construction? Is the use of a homeowners policy to provide coverage on single-family home under construction, renovation or reconstruction common? What problems are presented by using homeowners instead of builders risk policies? 4/2/2021 4:00:00 AMHomeownersHomeowners Builders RiskStrategiesBig “I” Virtual University Faculty
Lumber Price Up 34% YOY as Overall Construction Costs Increasehttps://www.iamagazine.com/news/lumber-price-up-34-yoy-as-overall-construction-costs-increaseLumber Price Up 34% YOY as Overall Construction Costs IncreaseWithout reassessing a home's reconstruction cost value, homeowners may find themselves underinsured after an adverse event. 3/8/2021 11:05:00 AMIn the NewsIn the News Homeowners Builders RiskNewsWill Jones
Golf Bag Bling: What Is a ‘Motorized Vehicle’ on a Standard Homeowners Policy? https://www.iamagazine.com/strategies/golf-bag-bling-what-is-a-motorized-vehicle-on-a-standard-homeowners-policyGolf Bag Bling: What Is a ‘Motorized Vehicle’ on a Standard Homeowners Policy? Clients have purchased remote-controlled electric golf bag carriers. How would a homeowners policy respond if one of these ran into a person or another vehicle, either on the course or in the parking lot of the clubhouse? 2/12/2021 5:00:00 AMHomeownersHomeownersStrategiesBig “I” Virtual University Faculty
Home-Based Business: Coverage for a Separate Structure Used for Work https://www.iamagazine.com/strategies/home-based-business-coverage-for-a-separate-structure-used-for-workHome-Based Business: Coverage for a Separate Structure Used for Work An insured works in a former guesthouse—that has a garage for personal storage—adjacent to their home. Is the structure covered under their homeowners policy? If the agency doesn’t disclose business use, would the carrier potentially decline the claim? 1/29/2021 5:00:00 AMHomeownersHomeownersStrategiesBig “I” Virtual University Faculty
1 in 3 US Homes Exposed to High Natural Hazard Risk https://www.iamagazine.com/markets/1-in-3-us-homes-exposed-to-high-natural-hazard-risk1 in 3 US Homes Exposed to High Natural Hazard Risk Data shows 35 million U.S. homes are exposed to high natural hazard risk levels, according to CoreLogic's 2020 Catastrophe Report. And while the report looks at severity and frequency of damage caused by seven natural perils, it points to rising flood water as the No. 1 peril for most U.S. homes.1/28/2021 11:00:00 AMHomeownersHomeowners FloodMarketsAnneMarie McPherson
Hidden Mold in Newly Purchased Home: Why Won’t the Carrier Pay? https://www.iamagazine.com/strategies/hidden-mold-in-newly-purchased-home-why-won-t-the-carrier-payHidden Mold in Newly Purchased Home: Why Won’t the Carrier Pay? Upon moving into their new home, an insured found hidden mold on a wall. Why can't the insurance company pay for damages and subrogate against the prior homeowner?12/11/2020 5:00:00 AMHomeownersHomeownersStrategiesBig “I” Virtual University Faculty