History Of Fire Insurance
Posted: March 5, 2014
History Of Fire InsuranceThe earliest known fire insurer in America dates back to 1735. The Friendly Society for the Mutual Insuring of Houses against Fire was based out of Charleston, South Carolina. The society was not formed with the intention of achieving a profit, but more as an outgrowth of volunteer fire-fighting organizations. A premium of one percent was paid into a fund that was invested until...
Top 10 Problems With Homeowner Insurance
Posted: April 3, 2013
Top 10 Problems With Homeowner InsuranceActual Cash Value vs. Replacement Cost for roof claim – More and more Insurance companies are reducing coverage for your hail damage claim. Instead of paying for a new replacement roof, many companies are paying a depreciated settlement, or Actual Cash Value. This means that your 10 year old roof may only be worth $2500 in actual value (used) but it may cost...
Building Code Ordinance Coverage: Don't Get Stuck Holding The Bag
Posted: November 13, 2012
Building Code Ordinance Coverage: Don't Get Stuck Holding The BagFor most Tennessee homeowners, a fire is covered under their home insurance policy. No brainer, right? Think again. The problem is in your local Building Code Ordinance Laws - and the difference between what the laws were when your house was built and the current laws. Your insurance policy does not automatically pay to bring a newly re-built home up to code. The fact is...
Homeowners Insurance Claims: The Inside Scoop
Posted: April 2, 2012
Homeowners Insurance Claims: The Inside ScoopTennessee beware! Too many homeowner claims may very likely mean trouble for you later! I recently spoke to an individual who had a number of claims on his homeowners policy. He said, “I pay a lot for my insurance and I expect to get something back for my money.” As a general rule, homeowners insurance is not meant to be a maintenance program. It covers...