insurance

Love Your Dog, but Beware of Your Homeowners’ Insurance

“We’ll say, ‘He is strong, but he’s sweet. He walks well on a leash,’” Nancy Haynes, the shelter’s behavioral expert said of the animated Louie, a mixed breed who stood to her shoulders as he awaited a treat. “It’s not about the breed. It’s about what we know about him. What we’ve seen.”

Pit bulls, mastiffs, Rottweilers, King Corsos, Dobermans, German shepherds and Chow Chows are surrendered more frequently, and stay longer, than the poodles and retrievers, the shelter staff said. The breeds’ prevalence in low-income households is a factor, particularly as many dog owners lost jobs during the pandemic. Their reputation as dangerous fighting dogs also makes them less adoptable.

“Unfortunately, these bully mixes aren’t the dogs everyone is looking for because of this myth that they are aggressive. Then, when pet owners need to surrender an animal, we don’t have space,” said Ashley Jeffrey Bouck, chief executive of the shelter, which euthanizes animals only with debilitating and painful medical conditions. “When people do want to open their homes to our dogs, insurance can be a reason not to.”

More than a decade ago, Karen and James Porpeglia, of Schenectady County, adopted Cole and Duke,

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June 21, 2022 by INSURANCE

Increasing home, construction costs could impact insurance coverage

Estimated read time: 2-3 minutes

SALT LAKE CITY — Rising prices could hit you hard if disaster strikes. Skyrocketing home values and construction costs are leaving gaps in some homeowners’ coverage.

A lot of this varies by policy — most are written in terms of what’s replaced rather than the current cost of materials. But at least one disaster cleanup professional is finding that some mishaps may have limits that are not set to today’s high prices.

What happened in the Parsons’ home could happen anywhere.

“When I got out of bed, I felt like wetness on the ground,” said Josh Parsons.

He made the discovery.

“I came rushing in here, and there was probably about an inch, inch and a half of standing water,” he said.

A toilet leaked all over the floor and down below.

“I went to put some things out in the garage, and when I opened the door, it sounded like a light river in our garage,” said Jeramie Parsons.

Three levels were impacted as water came through the rafters and behind walls and cabinets.

“All of the flooring has to be removed because we have trapped moisture,” said Ryan Marriott, owner of Floodsmen Disaster

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June 14, 2022 by INSURANCE

TN flood insurance to increase by up to $100 a month

NASHVILLE, Tenn. (WKRN) — Tennessee homeowners could soon pay more out of pocket for flood insurance. 

FEMA recently changed the way it calculates flood risk. For some, this will mean paying less, but the vast majority of residents living in flood zones will pay more, according to LendingTree.  

“We have seen a 163% increase in the last 20 years in the number of natural disasters, and a lot of those have been floods. So even if you don’t believe in climate change, that doesn’t matter, your insurance company does,” said Nick VinZant, Senior Research Analyst at QuoteWizard by LendingTree.  

Although this new system will mean some will pay more, VinZant said it’s ultimately a more equitable way of determining rates.  

“What FEMA is really doing is they are shifting the burden of flood insurance. Before, everybody kind of paid for everybody equally. Now people who have the riskiest properties are going to be paying the most. And if you’re not facing a lot of risk, you’ll be paying a lot less,” VinZant said. 

Unfortunately, VinZant doesn’t see Tennessee flood insurance costs going down anytime soon. He added that Tennessee has

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June 7, 2022 by INSURANCE

California Earthquake Insurance: Requirements, Coverage, Cost

  • While earthquake insurance is optional in California, home insurers must offer it to new homebuyers. 
  • Earthquake insurance covers your dwelling, personal property, and provides loss-of-use coverage.
  • You can purchase earthquake insurance through your homeowners insurance provider. 

California has a well-earned reputation as the earthquake capital of the US. Yet only 10% of California residents have earthquake insurance, according to the Federal Emergency Management Agency (FEMA). Many homeowners are underprepared for financial losses associated with earthquakes, which are not covered by standard


homeowners insurance

 policies. If you’re a Californian living near a major fault line, you can protect yourself with earthquake insurance.

Is earthquake insurance required in California?

California homeowners are not legally obligated to buy earthquake insurance, and


mortgage lenders

 don’t require it, says Glenn Pomeroy, chief executive officer of the California Earthquake Authority (CEA), the nation’s largest earthquake insurance provider. However, California law makes it mandatory for providers like State Farm and Allstate to proactively offer earthquake insurance in conjunction with a homeowners insurance policy to new homebuyers, according to Pomeroy.

Homeowners insurance will not cover earthquakes. You must purchase a separate policy to get coverage. Given the large number of damage-causing

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June 5, 2022 by INSURANCE

Mine collapse in Providence raises insurance concerns

HENDERSON, Ky. (WFIE) – After a mine collapse in Providence was reported on Wednesday, 14 News sat down with an Insurance agent to discuss how mine-related home damage can be covered.

James Roll with Vaughn Insurance in Henderson said if you live near that mine, it’s time to check out your existing insurance policies.

“See if they have mine subsidence listed on their declaration page,” he said. “That will tell them if they have the coverage and they can read through their policy and find the form that will actually describe the coverage and how it affects their policy.”

Subsidence insurance was also recommended a few weeks ago when surveys in McLean County showed subsidence risks.

Roll said that in many counties throughout the commonwealth, subsidence coverage is required, unless you fill out a waiver.

He said that can be risky.

“If you don’t have the coverage on your home insurance policy, and you have a mine subsidence issue, then you have to go through the legal recourse of trying to sue the mining company and try to get your home repaired that way,” Roll said.

He said even getting the insurance can have its drawbacks.

In particular, Roll said

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June 3, 2022 by INSURANCE
May 2024
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