The California Fair Access to Insurance Requirements (FAIR) Plan is an association comprised of all licensed property insurers in the state of California. Its purpose is to provide basic property insurance to homeowners unable to obtain coverage, for reasons beyond their control, from standard insurers.
A homeowner’s insurance policy is a contract between a property owner and a licensed insurance company. The policy states the type and amount of coverage provided for a specific property and what the annual premium, or cost, of that coverage is. There is also a deductible, typically $500 to $1000, which is the amount paid out of pocket by the property owner prior to insurance coverage being activated.
Water, water everywhere, but not a drop should be there. With dismay, you discover that your home is filled with damaging water. Will your insurance policy cover this loss? That depends on the type of insurance you chose to purchase and how the water entered your house.
There basically are two insurance policies that deal with a homeowner's damage due to water -- a flood insurance policy and a homeowners insurance policy.
If your home is damaged or destroyed in a wildfire, flood or earthquake, or if your possessions are stolen, you don't want to suddenly find out that your homeowners insurance policy pays less than you thought it would.
Instead, take time to contact your insurer and go over your policy before the unthinkable happens. This article identifies 14 points that can get you on your way to making certain your homeowner insurance policy is up to the task.
Your dog may be your best buddy, but he can also become a financial liability if he bites someone. Dog bite litigation is on the rise, and coupled with increased medical costs, is causing a rise in the cost of dog bite liability claims.
Dog bites accounted for more than one-third of all homeowner insurance liability claims paid out in 2011, costing nearly $479 million.