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9 Reasons Homeowners Insurance Claims Are Denied

Year after year, you send that premium payment for your homeowners policy. When accidents happen, you expect the insurance company to cut a check for the full extent of the damage to your home, no matter the amount or what caused it. It doesn’t always work that way. What you think you’re entitled to under your policy and what the carrier believes they owe you are often two very different dollar figures. Don’t take it personally. Remember, carriers have to price your coverage based on statistics, probability and risk. They can only pay to the extent a claim is based in cold, hard facts, policy language and evidence. If your claim falls under one or more of the criteria below, there’s a good chance it will be reduced or denied altogether. But alas, insurance companies don’t take claims personally, either. We’ll follow with ways to ensure your property is covered…

Renting Cars Through an App and How It Impacts Insurance

Most cars stay parked more than they roam the road throughout most of their lifetimes. Seems like a waste. What if, simply by using an app, you could not only get additional use from your car, but also make a little money on the side? Perhaps to help finance the payments or insurance, take a trip or just to save some extra cash? Copying business models similar to those of Uber and Airbnb, peer-to-peer car-sharing services use apps to make this happen for folks across North America and the world. What do you need to know about any rules, regulations and insurance before trying to turn your extra vehicles into cash cows? Why Peer-to-Peer Sharing Appeals to Users Peer-to-peer car-sharing companies such as Turo and Getaround appeal to customers for reasons of convenience, value, variety and location. Peer-to-peer renters can bypass busy airport counters and all of the paperwork processing…

3 Reasons Why Location Influences Home Insurance Rates

Location. Location. Location. We’ve all heard this common phrase in real estate and understand it can affect the market price of homes. What many don’t know is location also impacts home insurance rates. When determining your homeowners’ insurance rate, insurance companies take many factors into consideration. Each insurer has its own underwriting criteria and factors that influence rates. While some criteria are standard, some vary from one company to the next. For example, one insurer may prefer new construction. Another may choose not to insure homes built using certain materials, such as log homes. The insurer is assessing risk. Each factor reviewed helps the insurance company determine your home’s risk level. This directly correlates with your home insurance rate. So, how does location play a role in risk? According to Bradley Rynearson, a sales manager at SelectQuote, everything from state regulations to weather to your home’s proximity to a fire…

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