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Many commercial insurance claims are related to burglary and theft. 2. Fire. Small business owners tend to underestimate the likelihood of a fire.
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 ...
[4] [8] Through 2006, Citizens Insurance charged its customers the highest rate approved by the Florida Office of Insurance Regulation to avoid competing with private carriers. Insurance agents were prohibited from writing policies through Citizens if there was a private (not surplus lines) carrier that would write the risk. If a qualified ...
In the United States insurance market this is known as Commercial General Liability (CGL). It is the "first line" of coverage that a business typically purchases, [ 1 ] and covers many of the common risks that can happen to any type of business, such as bodily injury or property damage on the business premises or due to the business operations ...
Homeowners insurance premiums are up 300% in California since before the pandemic, insurance exec says. The uninsurable housing market: 26% of homeowners worry climate change will put them ...
In 2018, California passed a mandatory one-year moratorium on non-renewals for residential insurance policies. If your area qualifies, your insurance company cannot drop your coverage.
It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the ...
The insurance company will likely send an adjuster out to inspect the roof, at which point they will determine the extent of the damage and potentially approve the claim.