Understanding the basics of condo insurance

Condo owners, similar to owners of houses, can greatly benefit from the coverage provided by insurance that protects them from damage to their property, as well as from liability. Many condo owners do have questions about condo insurance, however, as it is slightly different from the typical homeowners policy. Though they remain quite similar, there are some ways in which they differ due to the nature of the condo itself. In order to find out what types of insurance are available to your condo, speak with an insurance provider. Many…

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U.S. Nuclear Plants…how exposed are we?

The people of Japan knew they were at risk for a large scale earthquake, and even a tsunami. They took painstaking measures to prepare for this possible, “once in a lifetime” event.  We watched the tragedy and devastation that was taking place, in one of the most prepared countries in the world.  One hundred twenty seven million people experienced an event of historical proportions. All the planning and scenarios had been done for a “worst case disaster.” But as one disaster turned into two, and then two turned into three,…

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Flood map errors costing consumers thousands!

The Federal Emergency Management Agency, also known as FEMA, is in charge of mapping out areas for high risk flood zones, but are some of these maps wrong? Banks require flood insurance on homes in these flood zones and many are paying steep prices for what could be old information or even human error! These maps are used to determine insurance rates and with the wrong information premiums can go (on average) from $300 a year to $3500, depending on your area and loan requirements. With no warning you have…

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