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Loss assessment coverage can help pay if you are assessed for a covered claim, which is a fee assessed to all units to cover the deductible and other amounts paid by the association. For example ...
Earthquake insurance is a separate endorsement or policy, depending on the state, for coverage from damages caused by an earthquake to your home and belongings. Typically, earthquakes aren’t ...
Please keep in mind that this kind of coverage is for catastrophic loss, not minor repairs. ... an Oklahoma homeowner can expect to pay $50 to $300 per year for earthquake coverage. Earthquake ...
Another method is the use of HAZUS, a computerized procedure for loss estimation. As with flood insurance or insurance on damage from a hurricane or other large-scale disasters, insurance companies must be careful when assigning this type of insurance, because an earthquake strong enough to destroy one home will probably destroy dozens of homes ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Extended coverage is a term used in the property insurance business. All insurance policies have exclusions for specific causes of loss (also called "perils") that are not covered by the insurance company. An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning.
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