Home Insurance: Home owners guide to insurance

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PostPosted: Fri Aug 13, 2010 2:45 pm   Post subject:   

Quote:
I was wondering how can one start a Homeowner's Insurance Company?




If you're talking about an honest-to-goodness insurance COMPANY, if you have to ask the question, you cannot afford it.



The cost to create and license a new insurance company is in the millions of dollars. Initial claims reserves requirements are at least $1,000,000 alone. Then you have paid-in capital requirements that must equal policyholder reserves, reinsurance agreements that are not free, and all the other costs of starting a new business.



If you're asking about becoming an agent or broker and opening an office, that's a lot less expensive. But if you have no experience in insurance, let alone in business, you would be ill-advised to start at that point. It would be better if you found an established agency in which to get your feet wet, and then, with enough experience, perhaps decide to go it alone.



You could also begin as a "captive agent" for one of the "Big 3" -- State Farm, Farmers, Allstate -- and learn the business with them before deciding to become an independent agent.


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PostPosted: Fri Aug 13, 2010 6:19 pm   Post subject:   

Quote:
Then it's called
"Holy Crap"


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PostPosted: Wed Aug 25, 2010 6:01 am   Post subject: roof inspection  

We have wind damage on our roof. Three of our neighbors had their roofs replaced from all of the damage. We contacted our insurance and made a claim . The first time they came out they gave us $400.00 and said that would repair it. We contacted a roof and he cam e out and said the whole roof needed replaced. We called again and had the inspector and the roofer meet. The inspector that time said there was more, so we ended up with another $800.00--- so that the one side of the roof would be replaced. I called again and asked what about the other side, and I was told they were replacing the side the wind was from. They then asked me when the damage was done on the other side of the roof ( gable roof) You dont want to know what I told them but They came out agian and know they say the other side of the roofs damage was caused by settling of the home. Our house was built in 2000 and we dont have any cracks in the dry wall or anything indicating this. How can that effect the shingles on the roof??? The roofer said he had never heard of such a thing. Have you ever heard of this?? Iam calling them back, it seams crazy.


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PostPosted: Thu Oct 21, 2010 7:24 am   Post subject:   

What type of coverage for glass does a Texas homeowners policy cover?


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PostPosted: Thu Nov 11, 2010 7:27 pm   Post subject: Public Adjuster  

My insurance adjuster is going out of his way to limit the payment amount of my claim. My contractor will not agree to his pricing or scope of work. Should I hire a public adjuster?


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PostPosted: Fri Nov 12, 2010 1:44 am   Post subject: Molds is it cover by home insurance  

Two of my rooms are full of molds and some of our clothes are now having lots of molds and we donot know what to do and we keep on clenaing it but keep on coming back.

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PostPosted: Fri Nov 12, 2010 10:12 am   Post subject:   

Quote:
My insurance adjuster is going out of his way to limit the payment amount of my claim. My contractor will not agree to his pricing or scope of work. Should I hire a public adjuster?




Before you do that, simply contact the insurance company and ask for a second adjuster to evaluate the claim. If you have documentation from your contractor that the damage is significantly different than the first adjuster has described, then you are entitled to this "second opinion".



And still, before you consider the public adjuster option (which will cost you about 10% of the value of whatever they obtain for you), you would want to file a complaint with your state's Dept of Insurance alleging unfair claims practices. That will cost you nothing and could gain you everything you are seeking.


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PostPosted: Fri Nov 12, 2010 10:13 am   Post subject:   

Quote:
Two of my rooms are full of molds and some of our clothes are now having lots of molds and we donot know what to do and we keep on clenaing it but keep on coming back.




The same post was placed in the Auto Forum, where it has been answered.


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PostPosted: Mon Dec 20, 2010 1:42 am   Post subject:   

I bought my own house in India 10 years ago and insured it.I gave it on rent when I shifted in USA. Now It is in very bad condition. Now I want to claim the insurance for it..Is it possible ? What are the conditions for it ? employers liability insurance

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PostPosted: Mon Jan 10, 2011 7:03 pm   Post subject: Lot with 2 car garage  

is there coverage on the homeowner pol for a separate lot with a 2 car garage and any contents coverage?


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PostPosted: Tue Jan 11, 2011 5:43 pm   Post subject:   

Quote:
is there coverage on the homeowner pol for a separate lot with a 2 car garage and any contents coverage?




As a standard form of coverage? Probably not. But anything could be covered by your contract . . . you will have to read it to find out, or ask your agent to explain what your coverage is.


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CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
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PostPosted: Mon Jan 17, 2011 5:14 pm   Post subject: house fire and lender wont pay for repair  

Our house burned and the check from ins. went to lender,they demanded we pay off note in full at that time or they would foreclose, even though we were current on payments.What recourse do we have?WE had replacement cost ins. but we dont have the cash to repair house ,does that mean we are screwed or do we what?

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PostPosted: Mon Jan 17, 2011 9:11 pm   Post subject:   

Answered in your other post. Consult an experienced REAL ESTATE attorney for help with a possible BREACH OF CONTRACT claim. You could end up with a new home and no mortgage.



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PostPosted: Mon Jan 17, 2011 9:12 pm   Post subject:   

Answered in your other post. Consult an experienced REAL ESTATE attorney for help with a possible BREACH OF CONTRACT claim against your lender. You could end up with a new home and no mortgage.



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PostPosted: Wed Feb 02, 2011 5:50 pm   Post subject: Gazeebo Insured?  

Is a gazeebo not attached to the house covered if a tree falls on it?


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