Buying homeowners insurance is just like buying peace of mind for what is probably your biggest investment. While it is optional if you are paying cash for your new home, its required if you are obtaining financing. In fact, your mortgage company won’t allow you to close on your new home until you have an …
Following the Oakland Hills fire in California in 1993 and Hurricane Andrew in Florida in 1992, many people found themselves to be under-insured because of the ordinance and law exclusion in their HO policies. As a result of this exclusion, losses that occur as a result of laws or ordinance are not covered. Many of …
Exclusions for Losses Caused by Ordinance or Law Read More »
Homeowners insurance is the second largest line of personal insurance for property-liability insurers, behind auto insurance. Most insurers writing homeowners policies are multi line insurers who also sell personal auto and life insurance. Over 500 companies sell homeowners insurance across the United States, and the market shares of the leading insurers within each state generally …
