What does my homeowners insurance cover? Water is known for penetrating structural cavities and creating growing pockets of saturation without the knowledge of the homeowner. Unfortunately, it often requires sophisticated tools and technology to find the source of such water damage. If the moisture remains undetected, it causes damages that eventually lead to an expensive…Read more
What is Subrogation?
You’re stopped in traffic when another driver plows into you from behind. Your company is a contractor working on a renovation project. An employee of one of the other contractors bumps a ladder, sending one of your employees to the floor with broken bones. Workers are welding on the property next to yours on a…Read more
How Vehicle Values and Claim Awards are Determined
When it comes to determining a car’s value for insurance purposes, there are several guidelines to help. Vehicle owners and insurers can use books such as Kelley Blue Book to help determine an accurate value. Insurance companies usually refer policyholders to a claims adjuster when they file claims. In addition to verifying the loss, the…Read more
Does Homeowners Insurance Cover Water Damage?
One of our clients recently had a pipe break that caused substantial water damage to their finished basement. Sudden and accidental water damage – like burst pipes – are generally covered by your homeowner’s insurance policy. However, it is important to know that not every type of water-related damage is covered. A few tips to…Read more
Insurance Fraud Impacts Everyone
This year, Governor Terry McAuliff declared May 11-17th as Insurance Fraud Awareness Week in Virginia. You may be thinking, “Does insurance fraud really need an awareness week?” or “Is insurance fraud really that big of a deal?” After learning the facts about insurance fraud, your answer to both of these questions will likely be, “yes.”…Read more
Know Your Insurance Deductible
Several states experienced the first catastrophe of 2014 when temperatures fell into the single digits. Pipes froze, burst and caused substantial water damage. Insurance claims were filed but policyholders didn’t realize they had a deductible or how much the deductible was and how it effected the policy. State Farm, the leading property insurer in the…Read more
Insurance Library
Have you ever had a question about insurance but you weren’t sure who to ask? Insurance Library was recently launched to help fill this need. Insurance Library is an online community of licensed insurance agents who will answer any question you have about insurance. Simply submit your question and receive an answer. If you have follow up questions…Read more
Sandy’s Affect on Insurance Rates
Hurricane Sandy will have an tremendous impact on the U.S. insurance market place, especially for Homeowners insurance. The market conditions were not great before and now with damage estimates between 5 – 10 billion Sandy will certainly have a negative affect on the insurance market. Some companies will fair better than others but small to mid-size companies…Read more
Should I file a claim on my homeowners insurance? It depends on the circumstances. Homeowners insurance is designed for a “sudden and accidential loss” but it is not a maintenance policy. Filing too many claims will cause your rate to increase or in some situations your policy will be cancelled. Use common sense. If your…Read more
