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A homeowners insurance policy provides basic coverage for property that is at most risk. Supplemental policies, also called endorsements or riders, provide protection for belongings that a basic homeowners insurance policy does not cover. Talk to your homeowners insurance agent to learn about the exclusions in your current policy and the endorsements the company offers before you experience a loss.
Although the laws vary by state concerning the degree that parents may be held responsible for the actions of their minor child, most states require that the parents pay for some types of damage that their child may cause through negligence or misconduct. Since the parents assume this liability, they can protect themselves by purchasing adequate liability insurance. An umbrella policy provides coverage at higher limits than a regular homeowner's or auto policy.
The Internal Revenue Service recognizes a casualty as the damage, destruction or loss of property that results from a sudden, unexpected or unusual event. In IRS Publication 547, the IRS details how a person who suffers a casualty loss must calculate the amount of his loss and distinguishes between deductible and nondeductible loss by causal events. Depending on the amount and type of loss a person suffers, the IRS may allow him to include the amount he pays to cover his insurance deductible as part of his aggregate, deductible loss.
When someone acts in good faith when trying to render assistance in a crisis situation or emergency, many states provide for certain legal protections. However, there are loopholes in the laws, and under the right circumstances someone who tried to provide assistance to a person in need might find himself in some serious financial hot water. It is for this reason that some homeowner's policies provide additional protection known as "Good Samaritan" coverage.
When a flood occurs, it can devastate your home and destroy most of the property inside. When this happens, some homeowners are shocked to find out that regular homeowners insurance does not cover this occurrence. To cover this damage, the building's owner should purchase a flood insurance policy.
Nevada recognizes a resident's right to create a living will -- a document that details the person's medical care preferences in the event he becomes incapacitated. It is one of several advanced directives residents can use to stay in control of their health care options. Nevada's living will laws are complicated and relatively new, having been rewritten in 2009. Talk to a qualified Nevada attorney if you need legal advice about these laws.
Bodies of water such as rivers, lakes and streams undergo cycles. They rise. They fall. Usually, their cycles behave predictably over long periods of time. When a body of water rises and continues to rise above all levels expected in its cycle, flooding occur. The damage can be widespread, causing devastating loss to a region. Government maps determine which zones are most prone to flooding.
When filing a flood insurance claim, the quicker you start the process, the sooner you will receive payment. Although you will work with an adjuster from your insurance company, the responsibility of filing and documenting your claim belongs to you. Whether or not your policy is backed by the National Flood Insurance Program (NFIP), you will contact the insurance company that issued the policy. If you purchased both NFIP insurance and excess flood insurance, you will need to file two claims.
A homeowner's insurance policy is designed to minimize losses and to ensure that the investment in the home is at least partially recovered after a loss. However, not all losses are covered, and the terms for the events covered must be explained in the insurance policy. Here are some things you need to know about replacement provisions in a homeowner's insurance policy.
For most property owners, a standard homeowner's policy is sufficient to meet their insurance needs. Those who have farms on their land, however, need additional coverage.
When you buy a home, your lender will require you to carry homeowner’s insurance to protect you and the lender against financial loss. There are several types of homeowner’s policies, and choosing among them can be a confusing process. Once you understand the basic types of homeowner’s policies, you can choose the coverage that is right for you and your family.
A basic homeowner's insurance policy provides certain coverage against specific events that could damage your home. These include wind, rain, fire, theft and other natural disasters with the exception of flood insurance. Flood insurance is not covered under most homeowner's insurance policies and must be purchased separately.
Apple offers an extended warranty for your iPhone called AppleCare. However, AppleCare is not insurance and will not protect your iPhone from loss, theft and many types of damage. Although Apple does not directly sell insurance for the iPhone, as of 2011, you can purchase a MobileProtect insurance policy for your iPhone from Asurion Insurance. Asurion sells the MobileProtect insurance policy directly through Apple's App Store.
Homeowners policies provide insurance protection in the event that the home is damaged by fire, natural disaster or other event. Homeowners insurance is required by mortgage companies and most states, whether you carry a mortgage or not. Since no one knows when disaster will strike, the best plan of action is to fully insure your property.
