Luxury Home Sub-Limits Explained
Consumers don’t realize there are sub-limits built into most “main street” homeowner policies. I did my best to explain it in a quick one-minute video here:
Owners of luxury or affluent homes need specialized coverage
Consumers don’t realize there are sub-limits built into most “main street” homeowner policies. I did my best to explain it in a quick one-minute video here:
Many homeowners don’t realize that their insurance limit on their home just isn’t the figure in Coverage A. Coverage A id what is stated on your homeowner policy of what your home is covered for. Many “main street” insurance companies…
Why you may have inadequate home insurance coverage. Inside every homeowner policy is what is called “sub-limits” of coverage. Like jewelry for example, maybe $1,500 maximum per piece, $5,000 total coverage. Or could be $5,000 for sewer/water backup in your…
No. Rates are not like car insurance where they get surcharged for an accident. Insurance companies can either renew the homeowner policy or non-renew due to claims activity.
No. Rates are not like car insurance where they get surcharged for an accident. Insurance companies can either renew the homeowner policy or non-renew due to claims activity.
Tom’s Thursday Thoughts: Insurance can often be confusing & misunderstood. When a national insurance company says they have a 128% loss ratio, that means they are losing $28 for every $1 they take in. The bottom line result – raise…
Who else has done some sort of remodel to their basement? Recreation room, TV room, Theater room, wine room? Did you know that most all homeowner insurance policies carry a “sub limit” on water/sewer back up? On some it may…
When it comes to commercial property risks, not all insurance companies want or can insure a mixed-use building. Mixed-Use means there is some commercial space and some apartment space in the same building. It could be a retail store, an…
Cute doesn’t exactly explain how the coverage’s apply. Is the “other structure” (in this case a garage called “other structure” on your homeowners insurance, could be a shed too) covered in this fire loss – yes. But what about the…
Were you surprised with a new puppy this holiday? With 70% of households owning dogs, homeowner’s often do not think about dog bites or being sued. This has been an ever increasing liability issue & lawsuits from aggressive dogs. In…