Posted in home improvement loans

Home insurance pitfalls to avoid during hurricane season – Lifestyle – providencejournal.com

For homeowners in coastal states, the 2020 hurricane season could mean financial disaster. Named storms are rolling in at a record pace, with as many as 25 expected in the Atlantic this season — twice the average number. After battering the Louisiana coast in late August, Hurricane Laura alone may account for as much as $12 billion in insured losses.

Even if you think you’re prepared, you may discover that your homeowners insurance doesn’t fully cover damage from a hurricane. To make sure you’re protected, avoid these four costly pitfalls.

Skipping flood insurance

Flood insurance is optional, and only 15% of American households buy it, says Mark Friedlander, spokesperson for the Insurance Information Institute.

But when a hurricane or storm hits, flooding causes more residential losses than high winds, according to a 2019 report from the U.S. Congressional Budget Office. That means most homeowners, even those with hurricane or wind

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Posted in home repair

Are HomeAdvisor Repairs Covered by Home Insurance?

Imagine a freak storm that causes a large branch from an oak tree outside to snap and damage part of your roof. Your homeowners insurance policy, a coverage designed to step in financially to back you up in these cases, will cover the cost of repairing the roof damage. Your insurance provider will send out a “preferred contractor” to handle the repair. You may think they’re doing you a great favor, but in many cases, these contractors are looking out for the insurance company’s best interests — and not yours, seeking to do the job as inexpensively as possible. 



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Carpenter talking to couple in empty room

The low-cost approach may be acceptable for some types of damages such as replacing a few roof shingles, but as for other situations such as damage to your gorgeous granite countertops in your kitchen or replacing your custom closet cabinets,

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Ameriprise Insurance review: Car, home and life

A well-established financial institution, Ameriprise also offers auto, home and life insurance policies. It sells standard policies at middle-of-the-road rates. Ameriprise recently sold its home and auto insurance business to American Family Insurance. According to American Family, “The acquisition brings together two Wisconsin companies with similar cultures, values and customer focus.”



a car parked in front of a house: cars in a driveway in a suburban neighborhood


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cars in a driveway in a suburban neighborhood

Ameriprise auto insurance

Ameriprise gives drivers the standard selection of auto insurance coverage and discount options plus a few nice extras such as glass repair and stolen key coverage.

Coverage

  • Comprehensive and collision coverage: Collision coverage pays for repairs in an accident, while comprehensive coverage applies to other types of damage or vehicle theft.
  • Liability: Liability insurance protects you if you cause damage to another driver’s car or physical injuries in a collision.
  • Rental car: You’re covered when driving a rental car.
  • Rideshare: Rideshare coverage is for
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Posted in home

UK watchdog proposes ban on car, home insurance “loyalty penalties”

Adds more detail

LONDON, Sept 22 (Reuters)Britain’s Financial Conduct Authority said on Tuesday it was proposing to stop insurers from charging more to repeat car and home insurance customers than to new clients.

When a customer renews their home or motor insurance policy, they would be paying no more than they would if they were new to their provider through the same sales channel, such as online,the FCA said.

“The FCA estimates that its proposals will save consumers 3.7 billion pounds ($4.73 billion) over 10 years,” said Christopher Woolard, the FCA’s interim chief executive.

It singled out “price walking” or complex pricing practices that allow insurers to raise prices for consumers who renew their car and home insurance policies year after year.

The aim is to stop loyal customers being penalised, the FCA said on Tuesday.

It identified 6 million policyholders paying high or very high margins

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Posted in home improvement

Avoid these 4 big home insurance mistakes

For homeowners in coastal states, the 2020 hurricane season could mean financial disaster. Named storms are rolling in at a record pace, with as many as 25 expected in the Atlantic this season — twice the average number. After battering the Louisiana coast in late August, Hurricane Laura alone may account for as much as $12 billion in insured losses.

Even if you think you’re prepared, you may discover that your homeowners insurance doesn’t fully cover damage from a hurricane. To make sure you’re protected, avoid these four costly pitfalls.

Skipping flood insurance

Flood insurance is optional, and only 15% of American households buy it, says Mark Friedlander, spokesperson for the Insurance Information Institute.

But when a hurricane or storm hits, flooding causes more residential losses than high winds, according to a 2019 report from the U.S. Congressional Budget Office. That means most homeowners, even those with hurricane or wind

Read More
Continue Reading Avoid these 4 big home insurance mistakes
Posted in improvements

The improvements in health insurance products in response to COVID-19



a group of people in a room: The improvements in health insurance products in response to COVID-19


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The improvements in health insurance products in response to COVID-19

Abhishek Bondia

The ongoing COVID-19 pandemic has increased the consumer’s consciousness about health insurance like no other event in the past. At the onset of the pandemic, individuals wondered whether their health insurance plan covered the costs of treating COVID-19. The insurance regulator was prompt to clarify that all regular hospitalization insurance policies would cover COVID-19 related hospitalization as well.  Nowadays, I get a few calls every week from friends, who want to evaluate their health insurance policies comprehensively for covering themselves, spouses, children and parents.

Their worries are specific. They want to know if buying a personal insurance apart from employer sponsored coverage will help, if COVID-19 treatment at home is covered, and ways to get supplementary coverage. The insurance industry has responded swiftly to address such consumer concerns. Here are a few examples of insurers

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Posted in home improvement loans

4 Costly Home Insurance Mistakes

By Doug Sibor

For homeowners in coastal states, the 2020 hurricane season could mean financial disaster. Named storms are rolling in at a record pace, with as many as 25 expected in the Atlantic this season — twice the average number. After battering the Louisiana coast in late August, Hurricane Laura alone may account for as much as $12 billion in insured losses.

Even if you think you’re prepared, you may discover that your homeowners insurance doesn’t fully cover damage from a hurricane. To make sure you’re protected, avoid these four costly pitfalls.

Skipping Flood Insurance

Flood insurance is optional, and only 15% of American households buy it, says Mark Friedlander, spokesperson for the Insurance Information Institute.

But when a hurricane or storm hits, flooding causes more residential losses than high winds, according to a 2019 report from the U.S. Congressional Budget Office. That means most homeowners, even those with

Read More
Continue Reading 4 Costly Home Insurance Mistakes
Posted in home repair

Allstate Home Insurance Review 2020

Pros Explained

  • Wide range of coverage and policies: Allstate offers coverage to protect a homeowner’s home and belongings, including a suite of optional coverage. 
  • Available in all states: Allstate homeowners insurance is available nationwide, meaning it’s easy to find a policy that suits your needs, no matter where in the U.S. you live. 
  • Offers both in-person and online customer service tools: Allstate provides a variety of ways to contact it, including in person, online, by telephone, and via its mobile app. 

Cons Explained

  • Agent experience varies: Because Allstate employs a range of people who act as agents, customer service may vary, including factors such as responsiveness. 
  • Online quotes not always available: In some zip codes, you can’t get a quote online, so you’ll need to contact an agent for more information. 

Allstate Standard Home Insurance Coverage Plan

When you purchase a homeowners insurance policy with Allstate, rest assured that you’re

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Posted in home repair

Does home insurance cover damage from protests?

Protests have always served as a format for citizens to make their voices heard on any number of issues. In 2020, protests have sprung up across the United States, primarily fighting for social justice, but a fair number expressing displeasure with pandemic restrictions and showing opposition to political candidates during election season.  



a group of people standing in front of a crowd: High Angle View Of Crowd On Street


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High Angle View Of Crowd On Street

Unfortunately, at a number of protests this year, demonstrations have turned violent and caused destruction, including damage to businesses, cars, personal homes, city property and more. In fact, the Property Claim Services, a unit of Verisk Analytics, designated riots throughout the United States between May 26 and June 8 as a multi-state catastrophe event, according to the Insurance Information Institute. Insurance industry analysts put the preliminary estimate for insured losses between $500 million and $900 million, a number that was expected to change, per the Insurance Information

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Posted in home repair

Does Home Insurance Cover Moving Damage?

According to the U.S. Census Bureau, more than 30 million Americans move each year. Some move across the county, some move a few states over and some move across the country. To make that move, they fill their personal vehicles with boxes, clothes and furniture or they borrow a pickup from a friend. Oftentimes, they enlist the aid of professionals to help move their stuff. 



a living room filled with furniture and a large window: Indoor life portrait of a young Asian woman


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Indoor life portrait of a young Asian woman

In the process, Americans spend an average of $660 to move themselves, $910 to hire someone to help with loading and unloading, and $2,568 to handle all the labor and driving, per HireAHelper.com. The last thing they want to do is increase those costs by paying to repair or replace damaged furnishings and personal property. 

So who’s responsible for the damages? Well, that depends. If you are moving yourself and damage your

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