Archives: Home Owner’s Insurance

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When Does Business Personal Property Become Personal Property?

Although they typically insure personal property owned or used by insureds while it is anywhere in the world, most homeowner insurance policies contain a special limitation of liability for “business” personal property. For example, under the 2011 edition of the ISO Homeowners 3-Special Form, property on the residence premises used primarily for business purposes is … Continue Reading

Snowmageddon 2014: Are You Covered?

Snowmageddon buried western New York this week with the lake-effect snowfall. Winter storms are the third-largest cause of catastrophic losses in the United States (after hurricanes and tornadoes). The good news for homeowners is that in most cases their claim for snow-related damages will be covered under the standard homeowners insurance policy.… Continue Reading

Water Damage Exclusions: What’s Excluded and Not Excluded Under the Standard Homeowners Policy is Often a Contentious Issue Between Insured and Insurer

Standard homeowners policy language excludes losses caused by water, however what is meant by this is not always clear. Water damage generally includes flood, sewer backup and seepage from water below ground. Despite these categories, disputes often arise regarding whether damages caused by water are covered.… Continue Reading

Does People’s Trust Recognize It Can’t Handle a Hurricane?

Just before the start of the 2014 Hurricane Season, People’s Trust Insurance Company, an unorthodox company, is now pulling insurance away from thousands. Last year, the company was awarded the 2013 Governor’s Innovators in Business Award for being a company that has set a standard for entrepreneurship and creativity. But this year, People’s has turned … Continue Reading

Another Outrageous Insurance Claim Denial by People’s Trust Insurance Company, Part II

You don’t have to have a law degree or be an insurance guru to see through one of the recent arguments People’s Trust has been using when denying insurance claims. Buying insurance with People’s Trust is very different than the way insurance is purchased with other Florida carriers. The basic process is different because People’s Trust … Continue Reading

Homeowners Policy – If You Don’t “Live” There, Are You Covered?

On August 18, 2010, Insurance Commissioner Steve Poizner issued a press release encouraging California homeowners to review their homeowners’ policies and to consider their options regarding vacancy protection. His reasoning: As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties. Frustrated home owners who must relocate for a new job … Continue Reading

California Insurance Code Section 530 May Protect Policyholders Who Suffer a Covered Peril that Causes Mold

People across the country are becoming increasingly educated regarding the health risks associated with mold exposure. The insurance industry implemented many wording changes in the late 1990’s and early 2000’s after an increase of mold damage submissions in conjunction with covered water damage claims.… Continue Reading

A Call for Homeowners Insurance Reform

Professor Daniel Schwarcz has called for regulatory reform of the homeowners insurance market as noted in yesterday’s post, "Insurance Regulators and Lawmakers, Judges and Insurance Consumer Advocates Should Study Professor Daniel Schwarcz’s Work." Unlike many who point out problems with no suggested solutions, Professor Schwarcz offered simple solutions that would dramatically improve consumer protections in … Continue Reading

Senate Bill 12-038 May Have Unintended Consequences for Colorado Homeowners and Public Adjusters

Among the new proposed legislation making its way through the Colorado legislature this year is Colorado Senate Bill No. 38, “Concerning Measures To Protect Consumers Who Engage A Roofing Contractor To Perform Roofing Services On Residential Property.” The bill is sponsored by Democratic Senator Lois Tochtrop and Republican House Representative Glenn Vaad.… Continue Reading

Florida Supreme Court Holds that the Presumption Favoring Insurers Created in Florida Statute 627.7073(1)(c) (2005) Does Not Apply in Litigation

The issue of whether the 2005 Florida Statute sections 627.7065, 627 .7072, and 627.7073 (2005), which affected sinkhole database information, testing standards, and reporting requirements, created a presumption that shifted the burden of proof to the homeowner in litigation to disprove an insurer’s expert’s opinion that damage was not caused by a sinkhole has been … Continue Reading

Draconian Property Insurance Bill Filed in Florida Senate

Senate Bill 408 proposes new Florida insurance laws that harm all policyholders. Florida businesses and homeowners will receive fewer benefits, and insurers will be encouraged to delay, deny and defend claims if this bill becomes law. It takes away a lot of financial peace of mind that insurance currently provides.… Continue Reading

Is Mold Covered Under my Texas Homeowners Policy?

Oftentimes after a windstorm, flood, or plumbing leak, mold develops in a home. There are several standard insurance policies issued in Texas, and they all have some language that deals with mold. For example, a standard Texas Dwelling Policy—Form 3 specifically excludes mold damage, but covers an “ensuing loss” caused by water damage. These clauses … Continue Reading

Ordinance or Law–An Additional Coverage Available Under Many Florida Residential Policies

Many residential insurance policies in Florida have additional coverage for “Ordinance or Law” or code upgrade coverage. I wanted to write about this additional coverage in the context of the Hurricane Law series because it is important to understand how this additional coverage kicks in during a typical residential hurricane claim. In South Florida, many … Continue Reading

Insureds in Pennsylvania Win the Late Notice Battle but Bad Faith is Denied.

Usually, I write about cases involving public adjusters, but here is an interesting case where the insurance company’s adjuster helped the insureds. Recently, a frequent allegation raised by the insurance companies seems to be “too little…too late.” Insurance policies typically include a condition that requires losses to be promptly reported. Jeremy Tyler and Shaun Marker … Continue Reading

Sinkhole Proposed Law Only Pays Policyholder 25% of Available Coverage–Lessons of How the Insurance Lobby Spins a Message

The poor policyholders whose homes cracked, popped, and dipped as a result of sinkholes induced by citrus farmers spraying their crops to prevent freezing damage should be happy it happened to them this year. Newly proposed anti-consumer sinkhole legislation would limit policyholders to 25% of their coverage limits for the most common sinkhole problems.… Continue Reading

Proposed New Senate Bill Filed: Policyholders Lose Prompt Replacement Cost Payments and Older Roof Insurance Coverage

If you are a policyholder, don’t expect prompt payment of replacement cost benefits and payments for damage to older roofs if Florida Senate proposed legislation passes. A proposed bill filed as a substitute that will be heard in the Florida Senate and Banking & Insurance this Wednesday was just released this afternoon. I have not had … Continue Reading
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