Law and Ordinance Coverage C Limits of Coverage—How Much to Obtain?
Posted on June 23rd, 2012
Law and Ordinance Coverage (often referred to as “Code Upgrade Coverage”) can be extremely complicated for those involved in any aspect of property insurance coverage. From a policyholder’s standpoint, Law and Ordinance Coverage is a counterintuitive riddle.
It is nearly impossible for policyholders to participate in a meaningful way in the determination of how much Law and Ordinance Coverage C should be obtained. I have always thought it is unfair that most policyholders purchase Replacement Cost insurance, which typically excludes the increased costs of repair due to compliance with building laws and ordinances.
My reasoning is twofold:
1.
Umbrella Liability Insurance Coverage
Posted on August 25th, 2011
For many policyholders, the highest-available payment limit on the liability coverage of their home or auto insurance is still insufficient. On most policies, the largest limit offered is $300,000, which would only suffice if the value of policyholder’s assets fell below that figure. Otherwise, one costly money judgment against the policyholder could jeopardize his/her assets once the liability coverage is exhausted. To avoid winding up in such a situation yourself, you might consider augmenting your auto or home insurance with umbrella insurance coverage.
The best way to explain umbrella coverage is by way of example. The following scenario is illustrative of both the nature and necessity of umbrella insurance coverage.
Tags: Coverage
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Choosing the Right Deductible for Your Car Insurance Coverage
Posted on June 15th, 2010
Check Car insurance quotes to know the right amount of deductibles on your car coverage. A deductible is the sum you pay before your car insurance company pays for any claim. Your insurance company offers deductibles on coverage in policies.
Choose a deductible that not only depends on the coverage but also the kind that you would be able and willing to pay during a claim. Choose a deductible based on your risk tolerance level. You insurance company can help you choose the right deductible for you.
The most common coverage that offers deductible is the physical damage coverage. It comprises of comprehensive and collision cover for the vehicle.
Tags: Car Insurance, Coverage
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