Umbrella policies provide extra protection beyond standard coverage, and they are available in increments of millions. Most insurance companies offer these policies starting at $1 million and going up as high as $10 million.
Most people who buy umbrella policies pick a standard $1 million policy, but there are quite a few who choose policies totaling $2 million. For the first $1 million, the premium can be as high as $250 per year.
It is important for homeowners to know how high winds work to better protect their homes. Wind can affect a home in four ways. The first way it affects a home is by uplift. When wind travels over the roof, it creates a lifting effect. Another way is racking, which means that wind creates pressure horizontally that can cause a home to tilt. Overturning is another way that wind affects a home. This happens when the home is not able to slide or rack. In some cases, this may result in a home's walls rotating off of the foundation. Sliding is the fourth way that wind affects homes. When wind creates horizontal pressure, it may cause the home to slide off of the foundation.
While auto and homeowner’s insurance may cover some instances of loss or liability for boats, trailers and sport vehicles, many don’t. And those policies that do offer coverage usually come with large deductibles and inadequate loss limits.
Year in and year out, water and leak damage is among the top causes of claims against homeowners' insurance policies, according to the Insurance Information Institute. Nearly 2 percent of homeowners file a water-damage-related claim every year with their homeowners insurance companies, making water damage the 2nd most common claims-generating occurrence in the industry, behind only wind and hail damage.
A car accident is always traumatic for any driver. Even if the damages are relatively minor, and both parties are uninjured, you may find yourself panicking over what to do next. There are important steps to take following any crash, no matter how severe.
Since car accidents involve insurance companies, both drivers need to collect the necessary information.
Home burglaries can happen to anyone at any time regardless of low crime rates in a neighborhood. It is important for homeowners everywhere to be prepared and to take steps to prevent burglaries. Below are some of the most helpful tips for preventing home burglaries.
It’s an unfortunate truth, but we live in a sue happy society and business owners often have to bear the burden of legal attacks. Whether these suits are valid or frivolous, business owners need to protect themselves and their business from financial ruin with well-constructed commercial insurance products.
Every adult should have an estate plan. Although the process may sound daunting, it is easier to approach it as several small tasks. The solution is to use a step-by-step method, and these ten steps are essential for a solid plan.
The two main types of plumbing system failures involve frozen pipes and supply system material failures. In a study, frozen pipes that eventually broke made up nearly 20 percent of plumbing system insurance claims. The study also showed that failure of the pipe system materials was a factor in two out of every three plumbing system claims.
Many business owners sincerely try to treat their employees with respect and dignity. They expect employee lawsuits for poor treatment to happen to other businesses, not to them. Unfortunately, that is not always the case. Any business can find itself on the receiving end of an employment practices lawsuit.