Insurance Companies

I dont see why they have loses, its the insurance companies that are losing. The Bank collects on the default loan and have the houses too!

Actually, insurance companies have insurance. Ever hear of reinsurance? I know, it pissed me off to learn that as well. None of them are really losing which is why they keep getting richer. Did you know insurance takes about 12% of your net income? Auto, health, dental, life, unemployment, etc.

Also, the properties that don’t have PMI are the ones where there is 20% I believe already paid up. That’s why the PMI goes away since there is enough to recover from factoring in the house, insurance, etc., etc. It’s a whole numbers game, but don’t believe that the banks lose out. They’ve been practicing the art of banking for hundreds of years, you’ve been doing it for like ten? Whoever thinks the banks will lose on more than a tiny fraction of deals is in la la land.

I have an Indepenent insurance agency in Houston, TX and I am opening a branch office in Louisiana to offer home and auto insurance for LA residents. However, I am having a hard time finding companies that are appointing agents or writing home insurance other than Louisiana Citizens. Does anyone have any suggestions on some companies that I am able to get appointed with ???? Please help!

aaron t, I found a big list of Louisiana insurance agencies. http://www.findinsuranceagency.com/Louisiana-Insurance-Agents.html I’d try visting one or two of them and see if they can assist you. A insurance agent should be able to help you.

I got hurt and broke my wrist because of my landlord neglience. He left a pipe that was out 6inch of the ground. And i trip over it. So i got a lawyer and Im now in the process of suing him/ Insurance Company. for premise liablity. Will the insurance company settle quick? If so why or why not?

No, it will not settle quickly. Just sit back and expect it to take up to 3 years with an attorney. If you were to go to the insurance company yourself and settle, they would do it immediately.

this is for home insurance in New York

Most companies offer an endorsement for extended replacment cost which will cover for replacment up to a certain percentage above the stated amount for the dwelling. Erie offers a "Guaranteed" replacement cost. The key to any of these policies is to make sure your stated amount on the policy is a close estimate to current replacement cost (it changes with inflation, labor and materials cost). Most policies include a co-insurance clause which states they will only pay full replacement if the policy holder has insured their home within a certain percentage (80 or 90%) of the actual replacement cost. Remember too that replacement cost does not include the value of your land. If something happens to your home, the land will still be there.

this is for home insurance in New York

Most companies offer an endorsement for extended replacment cost which will cover for replacment up to a certain percentage above the stated amount for the dwelling. Erie offers a "Guaranteed" replacement cost. The key to any of these policies is to make sure your stated amount on the policy is a close estimate to current replacement cost (it changes with inflation, labor and materials cost). Most policies include a co-insurance clause which states they will only pay full replacement if the policy holder has insured their home within a certain percentage (80 or 90%) of the actual replacement cost. Remember too that replacement cost does not include the value of your land. If something happens to your home, the land will still be there.

I have been told by a contractor I have hail damage on my roof, my insurance company denies it and won’t cover me. I have been with them for 25 years, the contractor wants to meet with the adjustor at my home to discuss this but they say no, what should I do?

I’ve fought claims on behalf of my clients and won. Not something like a replacement roof, however.

I would call another contractor, tell him, hey, you’re NOT going to get this job, but I’ll pay you $100 if you give me your written opinion, honestly.

Because contractors are GOING to try to tell you your roof is bad – it’s in their interest to sell you a new roof. Big question here – how OLD is your roof, and how much life do you have left in it?

See, hail damage is going to leave VISIBLE traces – sure, they might be small, but you should see SOMETHING – on siding, flashing, and asphalt shingles or tin, whatever your roof is made of. So how hard would it be to have a contractor take a picture of the damage they say is hail?? Then bring it to your AGENT, and let your AGENT fight that battle.

I am with a home improvement magazine which specializes in advertisements and we are interested in finding an underwriter that would be willing to brand a product – a home insurance policy. The underwriter will handle all daily operations regarding the insurance in itself, and in turn, we would divert all applicable traffic to you via our publications. Our magazine has an extremely large following, and is trusted and well respected. I am interested in names and phone numbers from probable companies which may be able to assist us. Please, valid answers only. Thanks!
We distribute to over 4 million homes per month, with franchises in 26 cities and growing. The people who recieve our magazine are pre-screened and meet certain qualifications and all own their own homes. We have been in business for the past 6 years.

LOTS of companies underwrite and brand homeowners insurance policies.

You can’t start your own company, though, without permission of the insurance commissioner in every state you want to write business.

What you REALLY want to do, I think, is do "program insurance" kinda like AARP and AAA do. They have arrangements with carriers, to write business with them.

What you CAN’T do, is make any money off of referrals. See, that’s heavily regulated in each state, and if you’re not licensed to sell insurance, you can’t receive "kickbacks" or "finders fees" or "commissions" on policies.

Keep in mind, homeowners insurance is a loss leader. A PROFITABLE company pays out about $1.10 in homeowners claims, for every $1 they take in, in premium. Policies are underwritten in a very cookie cutter manner.

So, I’m not sure what you’re really looking for here, or how large a "book of business" you’re willing to offer. Or, the QUALITY of the book of business. Can you promise 100,000 owner occupied, single family homes without pitt bulls, that have been completely updated within the past 25 years, and have owners with credit scores over 650? Or are you trying to find a market for substandard business?

You need to be A LOT more specific.

Of course when the amount of insurance in increased, the insurance premium also increases. I have only $125,000 left on the mortgage and insurance company has increased the insurance to cover a value of $305,000. Real estate value of the home is $450,000. My credit rating is excellent and I have not had any insurance claims

Yes. Part of the policy condition is that you insure the home to either 80%, 90%, or 100% of the replacement value, on a standard HO3 Homeowners form. So, if you want the type of policy that is NOT a replacement policy, you’ll have to get a whole different kind of policy.

Of course, a FLAT RATE policy costs about ten times as much as a standard policy.

Real estate value, or market value, has NOTHING to do with the cost to rebuild. If the house burns to the ground, the insurance company does NOT have an option to "buy" it from you for the face amount – they are required to rebuild.

So, you can do it your way, and pay a way, way, way lot of money for a small amount of coverage, or you can do it the insurance company’s way, and insure to full replacement value, for less money.

Or, what most people like you prefer to do, is just get a personal loan for the balance of the mortgage, so you can pay off the mortgage, and not insure the house at all. Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

I used to have The Hartford. They were the worst ever. Now I have Nationwide, and I’m happy with them.

If you are fortunate enough to either have been in the military or have been a dependent of someone who was, you can get USAA coverage. They are, without question, the best. Lowest rates, best customer service, most variety of products.

Everything I’ve heard from friends bears this out. Unfortunately, you have to have that US military affiliation to get their coverage.

I’m going to try to keep this short.. just know that, this is for my dog and I’m trying to save him… he’s a 10 year old Akita.
A year ago, our family dog bit someone. They sued for an insane amount of money, but it wasn’t our fault completely, so our home insurance and their health insurance settled out of court for a lot less. Still, the settlement was expensive, and our home insurance didn’t like covering a 6-digit figure claim because of the dog so they dropped us.
Since then, all home insurance companies don’t want to cover us, "even if we don’t have a dog", this information is by my father who doesn’t like the dog already.
There is only one house insurance that will cover us, according to my father, but they will only cover us if we don’t have a dog, and even then they will charge 4 times as much.
I’m not old enough to completely understand how insurance and claims and contracts work, but I’m just trying to save my dog, because my father is going to put him to sleep by the end of this month. I just need a good starting point or phone numbers that could maybe discredit what my father has been saying, or anything that could help. We live in Southern California. Apparently Akitas are listed as vicious, but at the age of 10, he’s old enough to be mellow, but still too young to put to sleep. Any help would be appreciated.
Thank you all very much for the quick responses, although not the greatest news :-\
I guess I’ve just heard from others that insurance companies can offer a liability waiver, sort of like car insurance companies do. In that way, owners and insurance companies agree that the animal will not be covered.
He’s a nice dog, we refuse to put him to sleep, worst case scenario is that he will live with someone else. Thank you all again.

Sorry but yes they can justifiably deny coverage to you due to the previous bite. He now has a ”history". He’s also considered one of the ”potentially dangerous breeds” by most insurance companies, so he now has two strikes against him. I know not fair I suffer the same problem with my pit/chow mix.