May 15, 2008, 5:51 pm
by: Christine Zafra
New Year comes (or any celebration for that matter) and so do fireworks. In fact, most households do not feel that New Year is in fact complete without lighting even a couple of fireworks. However, do you think people need to worry about getting insurance for their homes in case stray fireworks land on their porches? The truth is, some insurance policies cover bonfires and fireworks on their list. Some of them even cover third party liabilities in case someone got hurt when you lighted that firework. However, you have to read between the lines. Mentioning the word “some” means a lot. It means that not all insurance companies do cover such. You have to check with then if they do, but in case they don’t, and you don’t want to spend more on your insurance, all you can do is to stay safe.
Photo taken from http://static.howstuffworks.com
May 13, 2008, 5:29 pm
by: Christine Zafra
This is perhaps the most hilarious, not to mention unbelievable, incident that happened with regards to an insurance claim. Certain kids named Sarah and Devon Ruscoe has a home party. They indicated in their invitation that it was an “all welcome” party and they even had it announced over the radio. The problem was, there were a lot of gatecrashers—in fact, a total of 2,000 people gatecrashed the party, more than what the house could hold. Some of the parts of the house were damaged, and the parents of the children filed a claim. The insurance company said that they do not cover damages due to irresponsibility, however, if the child held a party without your knowledge, you have pretty high chances that you might be covered.
Photo taken from http://newsimg.bbc.co.uk
May 8, 2008, 4:50 pm
by: Christine Zafra
There was a flood last year in United Kingdom that ruined a lot of lives, making a lot of families miserable and homeless. Gerry Tyack, one of the founders of the Wellington Aviation Museum, felt devastated when the whole museum he built was destroyed by the flood. Although the building was not scathed, some of the memoirs in it were destroyed. The insurer of the building, NFU Mutual, paid a total of 60,000 pounds to replace everything inside. It was reported that insurance companies paid a total of 3 billion pounds for the settle claims. The losses for the uninsured totaled up to 2 billion pounds, making the homeless families live in caravans and temporary housing projects as of the moment.
Photo taken from http://www.buildingconservation.com
May 6, 2008, 4:09 pm
by: Christine Zafra
There are different kinds of home insurance policies now, giving the people the options of what will suit them best, not to mention, the budgetary constraints too. But the truth is, there is actually only one “kind” of insurance policy. This policy is actually the most basic of all policies which covers the most basic causes of home loss: fire and lighting. Some insurance companies do have add-ons that allow the insurance company to cover a much wider cause (such as burglary, earthquake etc.), but of course, the person has to pay the consequences of paying a much higher price.
Photo taken from http://realestatebuyandsell.net