You'll first pay your homeowners insurance deductible, say $1,000. Then your homeowners insurance will pay the next $299,000 of the judgment, which gets you to that policy's $300,000 maximum.

Flood insurance is a type of property coverage that protects homeowners from water damage to the structure and contents of their property. ... Flood Insurance: Definition, How It Works, Coverage, ...

Although it may seem strange at first, the recent ruling by the California Fourth Appellate District Court in Thee Sombrero, Inc. v. Scottsdale Co., (2018 EL 5292072), holding that an insurer must ...

Casualty Insurance Definition And How It Works. Audited & Verified: Dec 22, 2023, 4:13am John Egan ... Home insurance policy’s property coverage: Break-ins and theft: ...

What is a High-Risk Property? “Unfortunately, there is no one defining characteristic for a high-risk property,” Susman says. “Every carrier has its own definition and guidelines to follow.

Talk to your insurance broker annually to review the valuation of the insured elements of the HOA complex, and make sure there is enough insurance to cover a catastrophic loss. 5.

Insurance brokers are one of an HOA’s most important vendors, yet they are often ignored until claims arise. This mistake can be costly.Insurance is a contract in which the insurer accepts a … ...