The homeowners insurance industry has a rich history that is continuously evolving. From the time the first policy came about in the 1730s until now, the market has greatly changed, becoming increasingly detailed and more focused on data and risk mitigation.The Beginning of Homeowners Insurance
The initial homeowner insurance policies created were simple and protected against the most basic of elements: fire.
In the 1730s, the first fire insurance policy was underwritten in the United States. Twenty years later, Benjamin Franklin’s Philadelphia Contributionship was the first insurer to underwrite fire protection for its customers. The initial government [...]
As the last of Hurricane Harvey’s rains pelt an already waterlogged Houston and its surrounding communities, homeowners are no doubt taking the first steps in filing insurance claims on their damaged homes and property. Exactly how homeowners should navigate this claims process is information that’s more pertinent now than ever, so we’ve reached out to experts to find out five solid tips you should keep in mind as you begin the claims process.Your Insurance Agent Should Be Your First Call
Lisa Lindsay has been in the insurance industry for more than three decades and she’s the executive director of Private Risk Management Association, a collaborative [...]
Insurance is paramount for homeowners because it allows you to protect your residence and personal belongings against natural disasters, theft and other risks. At the same time, homeowners insurance can be a tricky topic for first- and long-time property owners alike. If you don’t purchase the right coverage, you may put your home and personal belongings in danger.
Ultimately, homeowners insurance can raise many questions for property owners. Lucky for you, we’re here to help you find affordable homeowners insurance that matches or exceeds your expectations. Now, let’s take a look at five questions that every homeowner needs to ask their insurance [...]
Evaluating risk remains an ongoing challenge for many homeowners. Ultimately, homeowners are responsible for safeguarding their property and family members against a wide range of potential dangers. Home insurance offers a package policy, but if you fail to add the right coverage, you may be putting your property and family members in a precarious position.
The Insurance Information Institute (III) points out that a typical home insurance policy offers coverage in four areas:Home Structure: Protects a homeowner against property damage or destruction due to a fire, hurricane or other disasters. Personal Belongings: Covers a homeowner for the costs to replace any [...]
Home insurance serves an important purpose: to provide financial protection against destruction or damage to your home and personal belongings. As such, you’ll want to do everything possible to avoid a home insurance lapse, as this problem may leave you without a financial safety net if your home is destroyed or damaged.
A home insurance policy lapse might last only a day, but a hurricane, tornado or other natural disasters can cause significant damage in seconds. If you lack home insurance at a time when your home is destroyed or damaged, you won’t be covered for any of your losses. Plus, you’ll be forced to pay any costs to repair or replace your residence [...]