From flooded basements, to burst pipes and to leaky faucets, water damage is one of the most common reasons people make claims on their home insurance. However, not all types of water damage are covered by a standard homeowners policy. Here’s what’s covered, what’s not...
Any reasonable expenses incurred because you lost the use of your home are covered under the “loss of use” provision of your homeowners policy. Covered expenses may include: temporary housing for your family, emergency replacement of essentials like clothing, medicine, food, rental cars, or gas...
Water damage is one of the most frequent types of property damage and property loss insurance claims. According to the Insurance Information Institute, water damage comes in second place for insurance claims frequency, and in fourth place for homeowner losses ranked by claims severity. Even a...
The Michigan Insurance Code mandates that all homeowner's insurance policies issued in Michigan have to provide, at minimum, coverage for the "actual cash value" of the lost property. Initially "actual cash value" or "ACV" was equivalent to market value. This sort of interpretation was later overturned...
Electrical fire risk is real. Every year, an estimated 28,000 homes have a fire of electrical origin. That represents about 14% of all fires, and property damages costing close to 1 billion. See more statistics about electrical fire, and what to do after an electrical...
According to the US Fire Administration, each year, there are about 26,000 home fires resulting in close to $1 billion in property losses, and more than 1000 injuries and deaths. The leading cause of electrical fires is wiring and its components, including old wiring, faulty...
After suffering a property loss, homeowners and their families need time to adjust and regroup. As difficult as this time is emotionally and financially, dealing with the property loss is still, an immediate concern. Having a public adjuster company on their side throughout the insurance...
Filing a loss claim with the insurance company is often not an easy, straightforward task. Is the insurance claim process gamed against the policy holder? Not in the strictest sense of the word, however...
For business owners, dealing with any fire, flooding, storm damage or vandalism, it’s usually a real nightmare. Even a week or two out of the market can have a huge negative impact and cause serious business loss. A quick restoration and reimbursement for the business...
Even a small fire can create big odor issues that are very difficult and expensive to get rid of. Slowly burning furniture or carpets release a thick, black smoke, containing hundreds of toxic compounds that will cover all exposed surfaces in your house, and enter through...