Insurance Companies Favored in Chinese Drywall Decision

Louisiana homeowners harboring dangerous Chinese drywall in their homes received a disappointing blow last week when a federal judge overseeing litigation in New Orleans dismissed their claims against 10 insurance companies. While the judge found in favor of homeowners on some issues, overall it was determined the cases pursued against the companies would be dismissed.

The Chinese Drywall Issue

Well over a year ago, homeowners in Louisiana began to complain of rotten egg smells coming from the walls, corroding pipes and even ill family members as a result of defective Chinese drywall that needed to be removed.

Homeowners began to contact their companies and make home insurance claims only to be turned down, or worse, dropped from their companies for making claims that could cost tens of thousands of dollars.

A group of homeowners later came together to file against companies that refused to pay for drywall replacement and time lost in homes. T

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Tags: Chinese Drywall, Drywall

Posted by Lisa Wilson 12 22, 10
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Christmas Tree History, Safety, and Decorating Tips

The Christmas tree is a decorated evergreen coniferous tree, real or artificial, and a tradition associated with Christmas. The Christmas tree is often brought into a home and can be decorated with lights, ornaments, garlands and tinsel during the days around Christmas. An angel or stars often placed at the top of the tree, representing the host of angels or the Star of Bethlehem from the Nativity.

Tags: Christmas Tree, Tree

Posted by Lisa Wilson 12 18, 10
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Deductibles in Property Insurance

Aggregate deductible, straight deductible and others.

The following deductibles are commonly found in property insurance contracts:

• Straight deductible

• Aggregate deductible

Straight Deductible

With a straight deductible, the insured must pay a certain number of dollars of loss before the insurer is required to make a payment. Such a deductible typically applies to each loss. An example can be found in automobile collision insurance.

For instance, assume that Ashley has collision insurance on her new Toyota, with a $500 deductible. If a collision loss is $7000, she would receive only $6500 and would have to pay the remaining $500 herself.

Aggregate Deductible

Commercial insurance contracts sometimes contain an aggregate deductible. An Read all post…

Tags: Insurance, Property Insurance

Posted by Lisa Wilson 12 18, 10
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Understanding the Difference Between Cash Value, Fair Market Value and Replacement Cost Insurance

There’s no lack of insurance out there, but how do you know if you’re buying the right policy to insure your valuables? Three of the most popular types of insurance include cash value, fair market value and replacement cost. If you’re not sure of the difference, you’re not alone. Here’s what you should know to prevent a headache–and heartache–should you need to file a claim.

What Is Cash Value Insurance?

A cash value insurance policy insures an item such as a house based on the item’s actual cash value at the time of loss. An item’s cash

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Tags: Cash Value, Fair Market, Insurance

Posted by Lisa Wilson 12 17, 10
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National Title Companies Issue Tighter Guidelines

Stricter guidelines have been issued by national title companies in the U.S. with regards to whether they will offer insurance to titles of homes that have been under foreclosure. According to these companies, their primary concern is tied up with the recent controversy surrounding lenders’ alleged use of questionable affidavits in foreclosing residential properties.

Following U.S. attorney generals’ investigation of lenders’ foreclosure proceedings, insurance title providers became worried about covering foreclosed homes. The concern is rooted in the fact that a defective foreclosure will not give the buyer a good title or even worse, will not provide any property title at all. Read all post…

Tags: Guidelines, National Title, National Title Companies, Title Companies

Posted by Lisa Wilson 12 14, 10
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What you need to do for getting a cheap home insurance quote

Cheap home insurance is affordable through voluntary excess, the improving security at home, no reduction in claims and neighborhood watch. These simple changes can save money. Policy holders can benefit from the cheap home insurance and economize money. While home insurance is essential, the cost can be reduced by an excess of voluntary payment, enjoying a discount for lack of claims, participation in neighborhood watch or improving home safety.

At the same time, you should also look in the package you decide to choose. Consider that different home insurance quotes offer different benefits and systems. The insurance premiums are based on a risk assessment. Read all post…

Tags: Cheap Home, Cheap Home Insurance, Home Insurance, Insurance

Posted by Admin 12 09, 10
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Changing Homeowners Insurance Policy for Better Coverage

Changing a homeowners insurance policy often results in better coverage, and sometimes, savings. This can be done whenever the value of a house changes.

Whenever the value of a private home (and its covered contents) changes, a change in a homeowners insurance (HOI) policy can help save money, and lead to better overall coverage. This means that reevaluating a policy and its cost, and the amount of coverage provided by it can be very worthwhile every so often, as changes in the value of a home and its contents means a change in the cost and value of a homeowners insurance policy.

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Tags: Better Coverage, Coverage, Homeowners Insurance Policy, Insurance Policy

Posted by Lisa Wilson 12 08, 10
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