Archive for April, 2009

Can a home insurance company increase the amount of insurance on your house without your request?

Of course when the amount of insurance in increased, the insurance premium also increases. I have only $125,000 left on the mortgage and insurance company has increased the insurance to cover a value of $305,000. Real estate value of the home is $450,000. My credit rating is excellent and I have not had any insurance claims

Yes. Part of the policy condition is that you insure the home to either 80%, 90%, or 100% of the replacement value, on a standard HO3 Homeowners form. So, if you want the type of policy that is NOT a replacement policy, you'll have to get a whole different kind of policy.

Of course, a FLAT RATE policy costs about ten times as much as a standard policy.

Real estate value, or market value, has NOTHING to do with the cost to rebuild. If the house burns to the ground, the insurance company does NOT have an option to "buy" it from you for the face amount – they are required to rebuild.

So, you can do it your way, and pay a way, way, way lot of money for a small amount of coverage, or you can do it the insurance company's way, and insure to full replacement value, for less money.

Or, what most people like you prefer to do, is just get a personal loan for the balance of the mortgage, so you can pay off the mortgage, and not insure the house at all.

what kind of insurance do i need for a property that is zoned commercial and used as a residence? HELP!!!?

You're going to have a challenge. First you need to work on getting it zoned properly.
If you try to get strictly commercial insurance and you have a claim and they find out it was because it was being used as a residence, it may void the policy.
You will need a homeowner's policy that might have some commercial provisions in them….a 'combination' policy so to speak.
Since there are plenty of home based businesses that need a combination policy, an experienced personal lines insurance agent will be able to help you.

Why do American fail to read and understand their insurance policy?!?

I work in Claims for a major auto insurance in the US, and it really pisses me off when our insureds call in asking for a tow or a rental and found out that they are not covered. And they would make an excuse that they thought that they have that coverage or that it would apply on that particular situation. Cant they just read and understand it so they wont have problems on the future?!? I mean I am not in America but I understand their insurance system better than most of them. And I am not boasting or anything – its just true.

I work in health insurance, so I know where you are coming from. But I also know that the reason I did not read my auto insurance is because it was delivered to me in a small novel. I don't have time to sit and read it over and over, reading through the rhetoric until I find the parts I want to know. It is just easier to call my agent and ask them what I have and what I don't have when I need to know. It would be easier for all if auto insurance coverage was listed like this:
you are covered under this policy for the following:

24 hour road side assistance, free towing, and list people that are listed as covered if driving the vehicle.

You are NOT covered for the following:

hail damage, cracks in the windshield caused by road debris, a broken taillight or headlight that was not the result of an accident….and so on.

This would make things SO much easier. You know….cut and dry.

Can anyone recommend (based on positive experience!) an online travel insurance company?

I live in America so it must be an American company.

Try squaremouth.com. It is a comparison engine that is extremely easy to use:

US Residents

http://www.squaremouth.com

Worldwide Residents

http://www.squaremouth.com/visitors-insurance

UK Residents

http://www.squaremouth.co.uk

Do you want to buy life insurance online?

go to www.RBCTERMLIFE.com

No thank you.

how do I set up an on-line Insurance business?

I want a second income and would like to set up an online Insurance Broker business. How do I go about it?

you need a professional web site/domain name
www.sdhinternet.co.uk can provide you with both,

drop me a mail shaun@sdhinternet.co.uk

before you do this you need to get in touch with insurance companies to get their permission to be a broker for them.

Can anybody give me a list of Insurance companies that give No Claims to named drivers?

see http://car-insurance.moneysavecenter.com/carins.html?id=mar20

Affordable homeowners/auto insurance company that includes liability insurance for home daycares?

If anyone knows a good company for homeowners and auto insurance. It has to be able to accept home daycares in the liability. Everyone I try wont accept you if you have a home daycare. I have farmers and I have been told it is very high. If anyone knows please let me know. Serious answers only please. Thanks in advance! (O:
I have a business policy attached to my farmers but I guess most of the insurance companies that I have talked to wont let me have them both. Either they have it or not.

Home insurance is actually very flexible. I don’t understand all the details of my homeowners policy, but my home insurance agent is always helpful. Try calling your agent or a agent in your area. http://www.usinsuranceadvisor.com/Home-Insurance.html They will be able to help you.

non-owner auto insurance provider in Canada?

Does anyone know a good source for non-owner liability and collision insurance in Canada? Basically this covers a driver for rental cars as well as while driving someone else's car. I know that you can purchase it as an add-on to existing auto insurance, but is it possible to get if you do not own a car? Thanks

The agency that rents you a car should be able to provide you with an insurance policy.

If you want to buy an independant insurace, it will depend on where in canada you are. Some provinces have government insurance (British Columbia – I.C.B.C. for example) and some have private insurance (Alberta – Co-operaters insurance for example)

You might also be able to arrange it through a travel agency, or CAA.

Can you make a living selling insurance for bankers life?

You can make a great living with them. However, initially it tkaes time to build rapport with people and develop a client base. Like all good things, it takes time to do it right. You are given three months to produce, for free. After that, if you don't you are out on the street after another couple. Been there worked for them. Now I own my own company.