Homeowners Insurance: Disasters Not Covered
Floods
You can purchase flood coverage directly from your homeowners insurance agent. However, the policy is provided by the Federal Flood Insurance Program ( 800-427-4661, http://www.fema.gov/nfip ).
You can get replacement cost coverage for the structure of your home, but only actual cash value coverage is available for your possessions. There may also be limits on coverage for furniture and other possessions stored in your basement.
Flood insurance is available for renters as well as homeowners. You will need flood insurance if you live in a designated flood zone. But also consider buying it if your house could be flooded by melting snow, an overflowing creek or water running down a steep hill. Don't wait until the evening news announces a flood season warning to buy a policy. There is a 30-day waiting period before coverage takes effect.
Earthquakes
Earthquake coverage can be a separate policy or an endorsement to your homeowners or renters policy. It available from most insurance companies. In California, it is also available from the California Earthquake Authority ( http://www.earthquakeauthority.com/ ). In earthquake prone states like California, the policy comes with a high deductible.
Maintenance damage
It is your responsibility to take reasonable precautions to protect your home from damage. Your insurance policy will not cover damage due to lack of maintenance, mold, termite infestation and infestation from other pests.
Source: http://www.iii.org/individuals/homei/hbasics/whattype/
The Montana Standard - Tue, 06 Jan 2009 13:53:32 GMT
Crews work Monday to demolish the charred remains of an old home at 307 W. Granite St. It was destroyed in a fire July 29, 2008. The county is footing the demolition bill, expected to be $10,000 to $20,000, through the health department's community enrichment fund, after the owner said his insurance company denied the claim. The county plans to seek repayment by placing a lien on the property. ...
The Sacramento Bee - Mon, 05 Jan 2009 08:03:23 GMT
To help small businesses in the down economy, the city of Citrus Heights is considering amending its laws to allow people to work out of their homes. "Our feeling is that the big guys are getting the bailouts, but the little guy isn't," said Councilman Jeff Slowey. "It is the small business owner who makes our city run." It allow barbers, insurance agents, jewelers and others – some who may ...
Naples Daily News - Sat, 03 Jan 2009 19:45:41 GMT
Condominium owners in Florida are required to have a new type of insurance policy because of a law that took effect Jan. 1. Homeowners 6 is a personal home insurance policy that insures contents within a condo that aren’t included in condo association insurance policies. The requirement passed in the last session and was rolled into Florida’s Condominium Act.
KTUU Anchorage - Mon, 05 Jan 2009 04:11:46 GMT
Quick response by the Anchorage Fire Department minimized damage to the West Anchorage home, and the owner says his insurance will cover the repair.
The Tuscaloosa News - Tue, 06 Jan 2009 09:38:30 GMT
John Paul Faucett was a familiar face on Northport's Main Avenue.
Great Falls Tribune - Mon, 05 Jan 2009 12:02:35 GMT
A mobile home was lost in a fire late Saturday night in rural Cascade County.
Daily Record - Tue, 06 Jan 2009 09:15:40 GMT
Brian Bodkin is owner of TABB Inc. in Chester, a pre-employment background investigating company.
Tulsa World - Tue, 06 Jan 2009 08:29:16 GMT
Funeral home, church and cemetery locations are in the city under which the death notice is listed unless otherwise noted. Bartlesville — Charles Arthur Ayres, 77, retired Phillips Petroleum Co. chemical engineer, died Saturday. Service 10 a.m. Tuesday, Stumpff Funeral Home Chapel.
Daily Breeze - Tue, 06 Jan 2009 05:08:11 GMT
Torrance resident is a business owner running two after-school math and reading tutoring centers for children. RELATED » Business news DAILY BREEZE BLOG » South Bay Biz Waves
Maumelle Monitor - Tue, 06 Jan 2009 08:34:42 GMT
The recent action by the Federal Reserve to lower the interest rates has filtered down to consumers and resulted in a rash of Maumelle residents taking advantage of lower mortgage rates to refinance their home loans.