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 Posted: Thu Feb 19, 2009 2:42 pm Post subject: whatis the core cover of a stanard fire policy |
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| Am student at the university of ghana. |
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sesiahe
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| Posted: Fri Feb 20, 2009 6:46 am Post subject: |
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Speaking as a *SAFE and not as a Properly & Casually agent it's my understanding that fire insurance will pay benefits when something that is insured under that policy is destroyed by fire.
However, there is a catch, they don't like it when the insured starts the fire themselves to defraud the insurance company.
So fire is at the core of the coverarge under fire insurance.
No fire, no payment, pray for rain, but not too much rain as to cause a flood. While the flood may put out the fire a home damage by flooding won't be covered in the absence of flood insurance.
Then, of course, like a fair weather neighbor, State Farm will argue if the wind from a huuricane blows water a mile inland and floods your home that didn't even flood back when Noah was is the ark they won't pay for damage that was actually cause by wind because the wind blew the water that caused the flood in the first place and that blows.
P & C insurance  ....or is it they Pick & Choose insurance what's covered after the fact then drop you as a client.
...and as a public service...for those of you in the state of Florida who has State Farm for your life insurance you are paying about double in premium.
State Farm is NOBODY's competition when it comes to life insurance. The only reason they will continue to write auto insurance in Florida is because that is their prospecting technique to write the life insurance business.
Their agents know nothing about the life insurance business except what is spoon fed them by State Farm. A State Farm agent has zero insurance experience outside of State Farm. I don't blame their agents,...they simply don't know any better.
State Farm Life Insurance ...the company you don't keep.
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GarySpicuzza
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| Posted: Fri Feb 20, 2009 9:10 am Post subject: |
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Well, the standard fire insurance would cover the dwelling and its items from fire related damages. You may also add coverage for the additional structure attached to your house by paying additional premiums. Well, some policies would cover these structures automatically without additional premium. You need to find it out from your insurer. Fire insurance in itself is inexpensive though.
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coffeeandcaramel
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| Posted: Fri Feb 20, 2009 11:20 pm Post subject: |
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 I have nothing substantive to add to this thread EXCEPT to thank the mods for not deleting my newly created literary masterpiece from above!  
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Gary Spicuzza, *SAFE
Copyright 1956.
No Rights Reserved.
*Self Appointed Financial Expert |
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GarySpicuzza
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Location: West Pasco County, FL
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| Posted: Sat Feb 21, 2009 12:16 am Post subject: |
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There is no such thing as a Fire-only policy. Maybe some obscure small-town local agent may offer some crap like that, but I think what you're referring to is a dwelling-fire policy. This is a policy that covers a dwelling that is not your primary residence. This can be a seasonal second home or a home rented to others. Fire is not the only peril that these policies cover. They do not usually come with personal property coverage, but it can be added to the policy with an endorsement. Also, if you're smart it is possible to leave liability coverage off of these policies as well. It is possible to extend the liability coverage from your primary residence to a dwelling with an endorsement. Back to your original question, though.
The core of a dwelling policy is...
Cov A, which is the coverage for the dwelling itself. Cov A is subject to named perils on the policy.
Cov B, which covers additional structures, also subject to named perils. |
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bombteck187
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