Archive for the ‘General Topics’ Category

Property Insurance 101 A

Thursday, November 27th, 2008

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Property insurance protects a wide range of matters. It includes a business’s physical structure, the building and everything in it like money and securities, records of accounts receivables, inventory, machinery, furniture, supplies as well as intangible assets like trademarks when theft, loss or destruction happens. Other insurance companies sell property insurance by named peril like fire or theft. There are also policies that cover several perils like fire and theft but nowadays, business owners can also buy extra coverage if they think they need it like snow, ice or sleet damage. Some even buy an earthquake insurance plan when they think their place of business could be hit by an earthquake.

Farm Insurance

Thursday, October 9th, 2008

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Farm insurance, also known as agricultural insurance saves those engaging in agricultural business, like farmers, from losses caused by fire, flood or hurricanes. They also protect you from injuries you got while doing farm work like, burns, falls and pesticide poisoning or during natural disasters. This kind of insurance is created to safeguard the homestead and its needs. It is very important to small farmers because, their farm is also their home. If their farms are destroyed, they will be left both homeless and penniless. Farm bureau insurance may help a little but there is nothing like a comprehensive agricultural insurance. The ideal farm insurance should cover all the needs of the farm in the event of a catastrophy. But, the usual farm insurance only covers two or three out of a number that should be covered by the insurance. Examples would be crop insurance, homestead insurance and vehicle insurance.

Saving A “Bundle”

Monday, September 29th, 2008


Almost everybody is feeling the economic crunch these days. We can no longer afford to be frivolous, and any savings, however small, should be undertaken. One way to save money is to lower your insurance premiums. You can do this by “bundling” your policies through a single company. Bundling is purchasing your homeowner’s policy and car insurance coverage from the same insurance company. Many insurance companies will offer discounts to policyholders to opt to bundle. In fact, recent studies have shown that more than 70 % of property owners have bundled their insurance. Aside from the savings, the convenience of paying just one monthly bill for your insurance is another advantage as well. Policyholders who bundle are also more likely to be happy with their provider and often establish a long-term relationship with the insurance company. To find out more about the savings you can get, you’ll need to shop around with different insurance companies, to find out which of them can offer the best “package” for your needs.

Hard Insurance Fraud And Soft Insurance Fraud

Thursday, August 14th, 2008


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Insurance fraud is any act committed with the intent to fraudulently obtain payment from an insurer.

Insurance fraud can be classified as either hard fraud or soft fraud.

Hard fraud occurs when someone deliberately plans or invents a loss, such as a collision, auto theft, or fire that is covered by their insurance policy in order to receive payment for damages. Criminal rings are sometimes involved in hard fraud schemes that can steal millions of dollars.

Soft fraud, which is far more common than hard fraud, is sometimes also referred to as opportunistic fraud. This type of fraud consists of policyholders exaggerating otherwise legitimate claims. For example, when involved in a collision an insured person might claim more damage than was really done to his or her car. Soft fraud can also occur when, while obtaining a new insurance policy, an individual misreports previous or existing conditions in order to obtain a lower premium on their insurance policy.

Flood Insurance

Wednesday, July 2nd, 2008

1.jpgMost, if not all, home and business insurances do not include flood losses in their policy coverage. The good news is, if your place is a member or participant in the National Flood Insurance Program (NFIP), your home or business insurance can be covered. Floods can happen anytime, anywhere, not just in places like near coasts, or along rivers. Even in the deserts, small or large sizes of tows and cities can be greatly affected by floods and flash floods. When there is flood in your area, you can not just be content on Federal Disaster Assistance only. Since a lot of people do not qualify for grants, you should consider a flood insurance which could come in handy when needed.

Finding out about fire

Monday, May 26th, 2008

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A survey conducted by Liberty Mutual and the Internation Association of Fire Fighters of revealed interesting results about fire safety in America. Although most respondents were concerned about home fires, many are negligent and lack awareness and education in such situations. It was found that 90 percent of Americans had a basic understanding of the importance of fire safety measures, 7 million have no smoke alarm, 37 million have no fire extinguisher, and 50 million Americans do not have a fire escape plan. Risky behaviors are also common: 26 percent reported leaving food that was cooking unattended, 16 percent said they have disabled the smoke alarm while cooking, 32 percent reported having holiday lights on when they were not home; and 12 percent said they have left candles burning unattended. Many other misconceptions were brought to light by the survey, showing the need for a better understanding of the causes of fire and what can be done to prevent it.

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Texas Windstorm Insurance Association

Saturday, May 24th, 2008

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The Texas Windstorm Insurance Association (TWIA) is a pool of property and casualty insurers in Texas. It was established in 1971, after Hurricane Celia forced insurance companies in the region to cease writing business. Its goal is to give Texans wind and hail coverage when it is unavailable in the marketplace and to pay claims in case of losses. It is therefore the provider of “last resort”, not a for-profit company or a state organization. TWIA runs agent workshops from April to June that are approved for continuing education. Learn more about the TWIA and visit their informative FAQs section on their website at www.twia.org.

Earthquake!

Tuesday, May 20th, 2008

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With casualties from the magnitude 7.9 earthquake in Sichuan, China continuing to rise, the reported 99% probability of a magnitude 6.7 or greater earthquake in California within the next 30 years is cause for preparation. These earthquake forecasts, called Uniform California Earthquake Rupture Forecasts, or UCERF, are sponsored by various bodies such as the U.S. Geological Survey, the California Geological Survey, and the Southern California Earthquake Center. The southern San Andreas fault is being eyed as most likely to generate a strong quake magnitude 6.7 or greater on the Richter scale. As scientists predict a 46% chance of a quake with magnitude 7.5 or higher in the same timeframe, most likely in Southern California, planners, officials and citizens can start working on safety precautions before the next big one hits the state.

Homeowner’s Insurance

Monday, April 28th, 2008

8.jpgFor everyone’s awareness, let me emphasize that there is no law that requires homeowners to apply for an insurance policy program. In contrast to this, if a homeowner borrows money from a banking or loan company to buy a house, the lending company will need to take a particular deed of trust or mortgage to be able to protect its interests that will stretch up to the day where the loan has been fully repaid. This certain mortgage will require homeowners to have an adequate amount of insurance to cover the reconstruction or repair of the house that was bought.

Cypress Property and Casualty Insurance Company

Tuesday, April 22nd, 2008

6.JPGWhen we speak of great property insurance policies under a local and independent group of insurance agents, the Cypress Property and Casualty Insurance Company comes to the scene. Residents of Florida State depend on the reliable coverage of property insurance of the Cypress Property and Casualty Insurance Company. This company has built the trust of thousands of local residents. It has received an ‘A’ in the Financial Stability Rating provided by Demotech. Inc. and it is very well relied upon by thousands of agents and policyholders. If you are from the State of Florida and you are looking for the company that is trusty and has served a lot of people, try considering Cypress Property and Casualty Insurance Company.