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Replacement cost means that the policy will pay for the cost to replace your contents rather than pay what the items are worth now. This endorsement has some conditions on it as well. The policy will pay actual cash value first, then it will pay what it costs to replace the items if and when you actually replace them. You just send the receipt to the company as you replace the items and the company will send you the difference.
What else can I help you with?
Does homeowner insurance cover renters fall?
No, the property owners coverage does not provide coverage for a tenants property or liability.
Does arbella insurance provide good coverage?
Arbella provides personal insurance coverage including homeowners, fire, watercraft, bodily injury, or property damage. It also offers business insurance for business owners, automobiles, and crime.
What percentage of home contents does the insurance pay?
If this is a standard homeowner's policy, insurance companies typically cover between 50% and 75% of the Coverage A Dwelling. In other words, if your home is insured for $100,000 (Coverage A) and the insurance company provides an additional 70% for your personal property (Coverage C), then your contents are covered for up to $70,000. Renters and Condo owners must specify exactly how much coverage they want on their policy. *Note: Most policies use the following descriptions for their coverages- * Coverage A: Dwelling * Coverage B: Other Structures * Coverage C: Personal Property * Coverage D: Loss of Use/Additional Living Expenses * Coverage E: Personal Liability * Coverage F: Medical Payments to Others
I rent a home with a detached shop that I run a business out of. If my car damages the building and my business contents will my comprehensive pay for my assets and the landlords building?
Renters InsuranceNo. Your renters Insurance Policy is personal lines residential tenants coverage. It should provide coverage for your "Personal Property" and may have some liability and personal injury coverage as well. Your Renters or "Tenants Policy" would not cover your business property nor the property of another person. Your landlord is expected to have his own property coverage.If you need coverage for your business property you would need to pick up a business owners insurance policy. Your personal lines residential rental policy would not cover your business property.AnswerYou'd have to examine the contents of your vehicle insurance policy to determine what would be covered.
What is the minimum car insurance requirement in Florida?
The state of Florida requires a bare minimum coverage which is $10,000 personal injury protection (PIP). Also the State of Florida requires that Florida Car Owners have coverage for $10,000 property damage liability (PDL).
Will liability insurance pay for company property in a private vehicle if the vehicle is destroyed by fire?
usually no, but your homeowners MAY, and your employers might as well....most auto policys specifically exclude any and all personal property, and homeowners (under personal property coverage) will exclude some property 'while in or upon a land motor vehicle'.....then there is another twist because it is 'company property' .... i'd file the claim with all, but would bet that none on auto, might have some minor coverage, (with a limit) on your home owners or renters policy, but may need a denial under your employers coverage first before they can pay...... and should find coverage with your employer........
If there is a battle over ownership of a mobile home can i get insurance on my personal belongings without the current owners permission?
A Tenant's form will cover you own property and liability regardless of the ownership on the premises. It will not provide any coverage on the mobile home or liability as owner of that property.
If the Home Owners Association for a condominium community hires a roofer to make repairs to the common area and there is damage to a unit owners personal property who is responsible for the damages?
It all depends. Depending on the insurance policy you carry on your personal property, and depending on the insurance carried by the association and the insurance carried by the roofer, there would be some number of possibilities for who ultimately pays. If I were you, I'd document the loss of my personal property and include photos. I'd verify the association's insurance coverage (carrier name, policy # if available) and the roofer's insurance coverage (carrier name, policy # if available). Then I would file a claim with my insurance carrier and pass the other coverage details along with the claim and let my carrier decide who should pay.
Is it possible to obtain Individual Property Insurance Coverage if I am only one of two owners of a property?
yes that is possible. this matter depends on the situation and the claim you are doing. if you have valid and genuine reason to prove for your claim they do provide you coverage.
Does personal injury protection on home owners policy cover lawsuits for property line disputes?
Personal Injury ProtectionNo, Personal Injury covers bodily injuries. It would not invoke over a property line dispute.AnswerA confusing question. Homeowners insurance will protect in a general sense for any negligence against an 'insured'. The action brought would need to meet certain criteria under the homeowners policy to trigger coverage - namely an "occurrence" causing bodily injury or property damages - property line dispute is fairly vague - if a fence building on incorrect spot for example - homeowners would coverage damage caused by improper placement of fence (landscaping repairs, etc)
What is Bailees Coverage?
Inland marine coverage on property entrusted to the insured for storage, repair, or servicing. It is typically purchased by businesses such as mini storage owners, jewelers, repairers, etc.
Will home owners insurance cover a moccasin snake bite on rental property?
It depends on what coverages you selected when you purchased your insurance and who was bitten by the snake. If you selected medical coverage option when you bought your home insurance policy you may have coverage if you were bitten by a snake on your own property. If the tenant was bitten then no. Your medical coverage does not extend to a tenant. There would also be no coverage for a tenant being bitten by a wild animal under the owners liability because the property owner is not liable for acts of wild that we do not own.
