generally homes are not totally distroyed. part on home value is in concrete and decks
Total Comments: 27
Posted: Fri Jul 03, 2009 01:12 am Post Subject:
The wrong information I was referring to was land value being taken into account when calculating reconstruction cost. If State Farm does this then they are worse than I thought. I can't believe it though since Marshall Swift/Boechks is the only residential cost estimator available anymore.
I understand where tcope is coming from...and yes I did handle property claims and also complete valuations on dwellings and commerical buildings. Let me say that agents use land when writing a policy.. or at least indirectly. Many agents are lazy or busy...okay most of them that I have dealt with are lazy. I see time and again agents using the purchase price of a home for the policy limits. My agent did it to me and actually under valuated my home by 30K. It took numerous calls and my own valuations on the house to show that I was under insured.
So Fishman you are right land should not be considered and tcope is right it many times is considered. Everybody is correct...so its a win win for all. :D
Posted: Fri Jul 03, 2009 07:34 am Post Subject:
My question is....when the house prices are falling rapidly do we really need the inflation adjustment? Rather we can have a deflation adjustment that will lower the coverage level everytime the price of the house goes down. :D
Posted: Fri Jul 03, 2009 02:27 pm Post Subject:
I'm with you, anonymous. We don't need inflation guard right now and I wish companies would discontinue it until costs start going up again.
Until then, as a non-lazy agent, I'm working overtime to make sure my client's houses are not overinsured.
If your agent is not doing this. Make them do it.
Posted: Fri Jul 03, 2009 08:43 pm Post Subject:
My question is....when the house prices are falling rapidly do we really need the inflation adjustment? Rather we can have a deflation adjustment that will lower the coverage level everytime the price of the house goes down.
That's the whole point. The coverage for your dwelling should be based on the cost to rebuild your home and not the market price or what you could sell it for. So any inflation adjustment would be for higher re-construction costs (lumber, shingles, drywall). I finished my basement around 2004 and just looked at current 1/2" drywall costs and found that they doubled in 5 years.
Posted: Tue Sep 08, 2009 10:43 am Post Subject:
We can know that insurance companies charge some amount as a premium and reimburse the amount whenever the insured i.e. like you who insured the house.You can get insurance money. insurance company first assesses the extent of damage caused to the individual’s home or anything that is insured.
Off course someone complain that by the time the remittance is done the need for the insurance money is itself wiped out. Maybe it is fact as in a certain case in South Dakota, United States of America, the home of a person was destroyed due to a typhoon. They need some time to check it and you should wait for it.
When you get your money you can rebuild your house and decorate it.
Posted: Fri May 18, 2012 08:30 am Post Subject: cuRyzHaLifCoQZZi
If you only had liability Insurance (BiPd) your inrcsanue will cover the other party in an accident. In you case you dont have Comprehensive nor Collision coverage which is the coverage that covers your vehicle in case of an accident. Thats when you pay a deductible, but since you only have liability, you dont have a deductible so if you are getting a quote, make sure you put none where ever it asks you for coll/comp unless you want that coverage.
Posted: Tue Feb 26, 2013 12:23 am Post Subject: homeowners insurance coverage
Homeowners insurance is only required to cover the amount of your mortgage, to protect the bank from losing money should anything happen to the property. For an insurance company to "protect" the homeowner by automatically increasing coverage is a load of BS. Any recommended increase should be explained and OFFERED to the homeowner. To me, it is no different than if my cable company decided I would benefit from having premium channels, added them to my service and charged me for them without my permission. The insurance company does not know my personal financial situation better than I do, and should not have the right to decide how much coverage I should have. Obviously more coverage = higher premiums, and here in New Orleans, more coverage also = higher hurricane/named storm deductibles = lower payout by State Farm = more expenses for people in times of disasters. I have called, written letters requesting that they don't increase my coverage without my permission, and gone to my agent's office in person and filled out paperwork to keep my coverage at the amount I want it at, but every year they increase it anyway. I don't see how this is legal. And if you think "there must be other companies offering insurance in New Orleans" hahahahahahaha
Posted: Tue Feb 26, 2013 04:46 am Post Subject:
Homeowners insurance is only required to cover the amount of your mortgage, to protect the bank from losing money should anything happen to the property.
Not true. In fact, insuring only to the point of covering the mortgage could result in not having enough money to retire a mortgage in the event of the total destruction of the insured premises and contents.
Failure to properly insure the structure to at least 80% of its REPLACEMENT COST will invoke a provision known as COINSURANCE and reduce the amount of the claims payable in proportion to the amount of insurance that was purchased in relation to the amount that should have been purchased.
EXAMPLE: John's property replacement value is $125,000, but he insures the property for only $75,000. In the event of a loss, because the property is not insured for at least 80% of its replacement cost (minimum of $100,000), a loss will be paid in relation to the amount of insurance purchased compared to the minimum insurance needed to avoid the coinsurance provision. 75,000 / 100,000 = 75%. All property losses will be paid at the 75% rate. A $50,000 loss would only be paid to $37,500 (minus any deductible). Had the property been insured for at least $100,000, the entire $50,000 loss would have been paid (minus any deductible). The cost to insure the additional $25,000 in dwelling value -- maybe as much as $100-$150 for the year. Would you rather pay $100 or have to come up with $12,500 out of pocket (in addition to any deductible)?
For an insurance company to "protect" the homeowner by automatically increasing coverage is a load of BS
I'm not going to argue against this statement too loudly, but automatic increases in coverage are typically in the insured's best interest. The problem arises when the insurance company uses inflationary factors that are unreasonable and will not agree to a reduction in the amount of insurance provided. Consumers should be able to reject an "automatic" increase if they choose, as long as they understand the issue of not being insured to at least 80% of the replacement cost of the structure.
it is no different than if my cable company decided I would benefit from having premium channels, added them to my service and charged me for them without my permission
and
more coverage also = higher hurricane/named storm deductibles = lower payout by State Farm = more expenses for people in times of disasters
Yes, I will agree with both of those statements. Here in CA, by artificially increasing the dwelling coverage amount, it has a direct effect on both the premium and the deductibles for earthquake coverage.
One of the arguments that insurance companies like to advance is that when a natural disaster (like a hurricane, tornado, flood, or earthquake) occurs, and many properties are damaged. building materials and labor both may be in short supply and the law of supply and demand causes them each to increase in the short term. CA has enacted an anti-gouging law that prevents the prices of most goods and services from being raised significantly beyond their pre-disaster prices in the event of an earthquake and most other natural disasters.
If you want to effect a change in this situation, you have to get the state legislature to change the insurance laws. Unfortunately, the insurance companies tend to have more capital resources than the people who pay insurance premiums can commit to fighting for their cause.
Posted: Thu Jun 27, 2019 12:47 pm Post Subject: girl in russian
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Posted: Tue Jul 02, 2019 12:19 pm Post Subject: determine the value of home insurance
In order to determine the value of home insurance, you should consider the amount it would cost to totally rebuild your house at current prices. You should also calculate the value of all the personal belongings. And finally, estimate the value of all the personal assets you risk losing were someone to file and win a liability lawsuit against you.
I will recommend you to use a home insurance comparison tool insurancecheetah.com to compare home insurance quotes from different insurance companies.
Posted: Fri Jul 03, 2009 01:12 am Post Subject:
The wrong information I was referring to was land value being taken into account when calculating reconstruction cost. If State Farm does this then they are worse than I thought. I can't believe it though since Marshall Swift/Boechks is the only residential cost estimator available anymore.
I understand where tcope is coming from...and yes I did handle property claims and also complete valuations on dwellings and commerical buildings. Let me say that agents use land when writing a policy.. or at least indirectly. Many agents are lazy or busy...okay most of them that I have dealt with are lazy. I see time and again agents using the purchase price of a home for the policy limits. My agent did it to me and actually under valuated my home by 30K. It took numerous calls and my own valuations on the house to show that I was under insured.
So Fishman you are right land should not be considered and tcope is right it many times is considered. Everybody is correct...so its a win win for all. :D
Posted: Fri Jul 03, 2009 07:34 am Post Subject:
My question is....when the house prices are falling rapidly do we really need the inflation adjustment? Rather we can have a deflation adjustment that will lower the coverage level everytime the price of the house goes down. :D
Posted: Fri Jul 03, 2009 02:27 pm Post Subject:
I'm with you, anonymous. We don't need inflation guard right now and I wish companies would discontinue it until costs start going up again.
Until then, as a non-lazy agent, I'm working overtime to make sure my client's houses are not overinsured.
If your agent is not doing this. Make them do it.
Posted: Fri Jul 03, 2009 08:43 pm Post Subject:
My question is....when the house prices are falling rapidly do we really need the inflation adjustment? Rather we can have a deflation adjustment that will lower the coverage level everytime the price of the house goes down.
That's the whole point. The coverage for your dwelling should be based on the cost to rebuild your home and not the market price or what you could sell it for. So any inflation adjustment would be for higher re-construction costs (lumber, shingles, drywall). I finished my basement around 2004 and just looked at current 1/2" drywall costs and found that they doubled in 5 years.
Posted: Tue Sep 08, 2009 10:43 am Post Subject:
We can know that insurance companies charge some amount as a premium and reimburse the amount whenever the insured i.e. like you who insured the house.You can get insurance money. insurance company first assesses the extent of damage caused to the individual’s home or anything that is insured.
Off course someone complain that by the time the remittance is done the need for the insurance money is itself wiped out. Maybe it is fact as in a certain case in South Dakota, United States of America, the home of a person was destroyed due to a typhoon. They need some time to check it and you should wait for it.
When you get your money you can rebuild your house and decorate it.
Posted: Fri May 18, 2012 08:30 am Post Subject: cuRyzHaLifCoQZZi
If you only had liability Insurance (BiPd) your inrcsanue will cover the other party in an accident. In you case you dont have Comprehensive nor Collision coverage which is the coverage that covers your vehicle in case of an accident. Thats when you pay a deductible, but since you only have liability, you dont have a deductible so if you are getting a quote, make sure you put none where ever it asks you for coll/comp unless you want that coverage.
Posted: Tue Feb 26, 2013 12:23 am Post Subject: homeowners insurance coverage
Homeowners insurance is only required to cover the amount of your mortgage, to protect the bank from losing money should anything happen to the property. For an insurance company to "protect" the homeowner by automatically increasing coverage is a load of BS. Any recommended increase should be explained and OFFERED to the homeowner. To me, it is no different than if my cable company decided I would benefit from having premium channels, added them to my service and charged me for them without my permission. The insurance company does not know my personal financial situation better than I do, and should not have the right to decide how much coverage I should have. Obviously more coverage = higher premiums, and here in New Orleans, more coverage also = higher hurricane/named storm deductibles = lower payout by State Farm = more expenses for people in times of disasters. I have called, written letters requesting that they don't increase my coverage without my permission, and gone to my agent's office in person and filled out paperwork to keep my coverage at the amount I want it at, but every year they increase it anyway. I don't see how this is legal. And if you think "there must be other companies offering insurance in New Orleans" hahahahahahaha
Posted: Tue Feb 26, 2013 04:46 am Post Subject:
Homeowners insurance is only required to cover the amount of your mortgage, to protect the bank from losing money should anything happen to the property.
Not true. In fact, insuring only to the point of covering the mortgage could result in not having enough money to retire a mortgage in the event of the total destruction of the insured premises and contents.Failure to properly insure the structure to at least 80% of its REPLACEMENT COST will invoke a provision known as COINSURANCE and reduce the amount of the claims payable in proportion to the amount of insurance that was purchased in relation to the amount that should have been purchased.
EXAMPLE: John's property replacement value is $125,000, but he insures the property for only $75,000. In the event of a loss, because the property is not insured for at least 80% of its replacement cost (minimum of $100,000), a loss will be paid in relation to the amount of insurance purchased compared to the minimum insurance needed to avoid the coinsurance provision. 75,000 / 100,000 = 75%. All property losses will be paid at the 75% rate. A $50,000 loss would only be paid to $37,500 (minus any deductible). Had the property been insured for at least $100,000, the entire $50,000 loss would have been paid (minus any deductible). The cost to insure the additional $25,000 in dwelling value -- maybe as much as $100-$150 for the year. Would you rather pay $100 or have to come up with $12,500 out of pocket (in addition to any deductible)?
For an insurance company to "protect" the homeowner by automatically increasing coverage is a load of BS
I'm not going to argue against this statement too loudly, but automatic increases in coverage are typically in the insured's best interest. The problem arises when the insurance company uses inflationary factors that are unreasonable and will not agree to a reduction in the amount of insurance provided. Consumers should be able to reject an "automatic" increase if they choose, as long as they understand the issue of not being insured to at least 80% of the replacement cost of the structure.it is no different than if my cable company decided I would benefit from having premium channels, added them to my service and charged me for them without my permission
andmore coverage also = higher hurricane/named storm deductibles = lower payout by State Farm = more expenses for people in times of disasters
Yes, I will agree with both of those statements. Here in CA, by artificially increasing the dwelling coverage amount, it has a direct effect on both the premium and the deductibles for earthquake coverage.
One of the arguments that insurance companies like to advance is that when a natural disaster (like a hurricane, tornado, flood, or earthquake) occurs, and many properties are damaged. building materials and labor both may be in short supply and the law of supply and demand causes them each to increase in the short term. CA has enacted an anti-gouging law that prevents the prices of most goods and services from being raised significantly beyond their pre-disaster prices in the event of an earthquake and most other natural disasters.
If you want to effect a change in this situation, you have to get the state legislature to change the insurance laws. Unfortunately, the insurance companies tend to have more capital resources than the people who pay insurance premiums can commit to fighting for their cause.
Posted: Thu Jun 27, 2019 12:47 pm Post Subject: girl in russian
russian ladies
what makes the doll then eye-catching and in addition exactly what are the good threads with chat by the ? several ideas to express it fantastic conquer along with the of spain!
normally, this special appeal of is probably hereditary. our Russians woman are the ideal disappear rrn between japan and european. the foreign appeal ended up being detected additional hand focuses on associated with fashion periodicals of personal. all their moms are generally marvelous furthermore fathers, to be sure, sorts of women have taken the very best of their guardians.
Single may be conditioned the specific prefer of predominantly knowledge since discovery. numerous amounts even say a word an estimated two other languages, especially those on their 30. After the alterations in hmo's Soviet union in early 90s all these young women keep headed to another country because well read in traditional western colleges and universities. those perception as well valuable experience that brings about unique travel companions.
her or his passions aren't the same as literary mastery for you to fine. situation you read more about russian document, several surprised by the levels attained through this community.
have got some down time, to make use of russian mail order looking for one of the company's hard work and look it. concerns struck by the power of reactions, that they can manage to mix. try not to be afraid to talk about your opinions as part of your little princess!
you're information will be very satisfied hot russian girls if i hear you ask your loved one's whatever they popular the beneficial that when was already little. confer with your child is always a good method to reach a cardiovascular system. remember, rrt is best to get ready to conquer her with the name of Eduard Uspensky men of the ussr and the like for little ones.
your knowledge of russian document without a doubt amaze your court and you'll be halfway during his or cardiovascular. youth want to music so russia experiences numerous skillsets. starting from Tatu, that you are transition their debate towards Ruki Vverh (Both widely used within just russian federation and bands perhaps another country).
as well as there's a lot of cuts as well as,while flavors, to be able to interested all your company's child enjoys. talk about to ship particular tracks or to describe best places to saving. despite leaving the experience, So you can communicate her wedding and reception first evening out has ended.
a family work very important role in all the memories of every woman. all these women of all ages inside as well as her caregivers and it is able to actually possible to fail to let you down. often, all the companies deliver case studies in technological know-how, hormone balance or even a physics, only so i can make the dad or mom perfect. you may notice her which one seemed like a mannequin, it would not be unfamiliar if it possesses a great master's certification when quantum insides, if at all russian.
Posted: Tue Jul 02, 2019 12:19 pm Post Subject: determine the value of home insurance
In order to determine the value of home insurance, you should consider the amount it would cost to totally rebuild your house at current prices. You should also calculate the value of all the personal belongings. And finally, estimate the value of all the personal assets you risk losing were someone to file and win a liability lawsuit against you.
I will recommend you to use a home insurance comparison tool insurancecheetah.com to compare home insurance quotes from different insurance companies.
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