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SCC reminds Virginians to review property insurance
Published Saturday, Aug. 21, 2021, 2:32 pm Join AFP’s 100,000+ followers on Facebook Purchase a subscription to AFP Subscribe to AFP podcasts on iTunes and Spotify News, press releases, letters to the editor: [email protected] Advertising inquiries: [email protected] The State Corporation Commission Bureau of Insurance reminds Virginians that late August to early October is often the most dangerous and active time for tropical storm activity – and the potential property damage those storms can cause. If you have not already reviewed your property insurance, the Bureau urges Virginians to do so now as the hurricane season is underway. Whether you’re a
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Oklahoma Is the Most Expensive State for Tiny Home Insurance
The cost to insure a tiny house in Oklahoma is $1,974 a year. Compared to the average rate across the 50 states and the District of Columbia, tiny home insurance in Oklahoma is 242% more expensive. Insurance alone for a tiny home costs Oklahomans 4% of their household incomes. Even in Oklahoma, the cost to insure a 2,100-square-foot home is 68% more expensive than it is to buy coverage for a tiny house. This pattern holds in the other states where insuring tiny homes is most expensive. Following Oklahoma, Tennessee, Kansas, Texas and Colorado are the least affordable places to
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Theft of Music Instruments? How Homeowners Insurance Could Help
We may receive payment from affiliate links included within this content. Our affiliate partners do not influence our editorial opinions or analysis. To learn more, see our Advertiser Disclosure. Your baby grand piano and your vintage violin make your heart sing. But everything could hit a sour note if something terrible happened to the instruments and they weren’t properly insured. Homeowners insurance typically covers musical instruments, but only up to a certain dollar amount. If your instruments are particularly valuable, you may need to purchase an add-on to your homeowners policy or even a separate policy in order to have
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When and how to file a home insurance claim | Business
Most people buy home insurance with the intent of never filing a claim. When a claim occurs, not knowing what to do increases an already stressful situation. Let me share the knowledge I’ve gained from 46 years of handling claims. First rule: Make sure everyone who lives in your home is safe. That can range from getting people out of a damaged structure to making sure they have food, water clothing and a new place to stay while the dwelling is being repaired. Do not hesitate to call 911. These are trained people who not only can dispatch aid, but
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Best Cheap Homeowners Insurance in Indianapolis
The average homeownership rate in Indianapolis is 53.1 percent, slightly lower than the national average of 63.9 percent, with the median home value estimated to be around $137,000. If you are a homeowner in Indy, one of your priorities must be to insure your property against unforeseen loss and damages. The national average cost of home insurance is $1,312, while in Indianapolis, it costs $1,267 per year for $250,000 dwelling coverage. Although this may seem affordable, when you consider the storms the city experiences every year, the resulting damage can increase insurance premiums. When shopping for home insurance in Indianapolis,
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Citizens Insurance to increase number of home inspections; how will it impact rates and uninsurable properties? | Florida
The State-run Citizens Property Insurance Corp plans to increase the number of annual home inspections it conducts from 5,205 in 2020 to 90,695 by 2025. The rationale for the proposal, according to the company, is to enable Citizen to set insurance policy rates and reduce the number of claims that customers file more accurately. According to a document detailing the proposal, and reported in the South Florida Sun Sentinel, the added inspections would focus on the age and condition of roofs, electrical systems, plumbing systems, air conditioning units and hurricane protection. Citizens Board of Governors will consider the proposal Wednesday.
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Two Weeks Left to Apply for Assistance from FEMA and SBA
BATON ROUGE, La. – There is still time to apply for a grant from FEMA or a low-interest disaster loan from the U.S. Small Business Administration (SBA). You have until Aug. 2 to apply for federal assistance. Your insurance may not have covered the cost of damage to your home after the May flooding. The five designated parishes for disaster assistance are Ascension, Calcasieu, East Baton Rouge, Iberville and Lafayette. FEMA disaster assistance for individuals and families can include money for rental assistance, essential home repairs, personal property and other serious disaster-related needs not covered by insurance. This also applies
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Keeping up with home coverage key in changing market
MOSES LAKE — Say there’s a fire. Say the house is damaged, maybe destroyed. Of course, there’s a homeowners insurance policy, and that will cover it, right? Right? The chances that it all will be covered are better if the homeowners have done their homework. And homeowners need to think about changing coverage to reflect changing replacement costs and home values, especially in an active market like the current central Washington market. Local insurance agents said it’s a good idea to check the policy periodically irrespective of the market, just to make sure it provides adequate protection. R.J. Martinez, owner
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