Home Insurance Approved?

July 25th, 2008

Factors That Can Interfere With Being Approved for Home Insurance

Date July 24, 2008

by Amy Nutt

Individuals who seek out home insurance can actually be denied. This denial isn’t a discrimination issue or a lazy insurance company. There are simply aspects of a home or the land the home sits on that an insurance company will not cover based on their own rules and regulations. They are also not able to make exceptions due to the fact that they may only be authorized to carry certain types of insurance for certain types of properties. That is what makes insurance companies so different from one another. What one may cover, the other may not. That is why it is important to shop around for home insurance and not be disappointed if your application for home insurance is denied.

Conditions that can result in a denial

Read more here–>


Technorati Tags: , ,

(0) Comments | Flood Insurance, home insurance

Flood Insurance, Check If You Are Covered

June 13th, 2008

MADISON, Wis. - About 50 Wisconsin communities, including flood-damaged Lake Delton and La Valle, have dropped out of the federal flood insurance program, making residents ineligible for federal aid, state and federal officials said.

Residents in communities lacking the insurance won’t receive federal disaster assistance even if a federal disaster is declared in their area, said Philip Clark, a spokesman for the Federal Emergency Management Agency regional office in Chicago.

But, communities can rejoin the program within six months of a disaster declaration, allowing residents to file claims for past damage, said Roxanne Gray, state hazard mitigation officer with Wisconsin Emergency Management.

The state will work with FEMA and local communities to get them back into the program, Gray said, adding that that process could take several months.

Along with qualifying residents for disaster assistance, the National Flood Insurance Program lets home and business owners buy federally subsidized flood insurance that pays out even if no federal disaster is declared after a flood, Clark said.

Homeowners in frequently flooded areas that dropped out of the program may find it extremely expensive or impossible to get private flood insurance, Gray said.

Read more here from the Chicago Tribune

Technorati Tags: , , ,

(0) Comments | Flood Insurance