Many times, people are surprised to see that the check received as settlement for their home insurance claim has a line item deducting for depreciation. This can happen even if the policy is a replacement cost policy. However, if you do have a replacement cost policy the depreciation is typically...
Did you know that a federal flood insurance policy offers maximum dwelling coverage of $250,000? Moreover, the maximum amount of personal property coverage on a federal flood insurance policy is $100,000. So what are you to do if you need $500,000 in dwelling coverage or $200,000 in personal property coverage? ...
Did you know that many insurance companies have verbiage in the policy that will cap payouts from water damage at $10,000 on older homes? In this situation, we’re not talking about water back up but rather damage caused by pipes breaking or leaking, appliances leaking, roofs leaking, etc. You see...