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Traditional homeowners insurance policies will often cover damage related to storms, but it depends on what type of damage is done. For example, damage from wind is typically covered, such as if a ...
Liability coverage may also cover reimbursement for any visitor’s property that is damaged while at your residence. Lastly, standard HO-4 policies also include additional living expenses (ALE ...
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.
The primary reason for professional liability coverage is that a typical general liability insurance policy will respond only to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employers, public and product liability. However, various professional services and products can give rise ...
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 ...
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Umbrella insurance is a form of liability insurance that provides coverage when liability exceeds the limits of other insurance policies, such as auto insurance or homeowners insurance. It can also act as primary insurance for losses not covered by those underlying policies, distinguishing it from excess insurance , which typically only extends ...
For example, if a tree falls and causes $5,000 in damage to your home and you only have 5 percent debris removal coverage, your policy may pay up to $250 to remove the tree.