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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Wonder why insurance premiums are going up instead of down during recession?

The rising price of oil and gas, the unemployment rates and the uncertainty of the economy; what do these things have in common? They can all affect the insurance industry and the rates you pay for your auto and homeowners coverage. Actuarial science is a field that uses math and statistics to assess risk in the financial and insurance industries. There is a professional group of people called actuaries that use actuarial science and apply it to property and casualty insurance risks. This group of experts has noticed a connection…

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