Standard homeowners insurance policy may not cover short term rental damage

standard homeowners insurance broken window vandalism

Property owners taking part in short term rental programs are often unaware of their lack of coverage. Property owners considering using their homes as a source of income may want to review their standard homeowners insurance policy before getting started. Many don’t realize that renting out their homes through services such as Airbnb and Kid & Coe stops their coverage as long as the renters are there. The reason is that a typical home insurance policy is meant to cover the homeowners as residents and their guests. This has become…

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Sinkhole insurance lacks among homeowners despite threat

Homeowners insurance claims from sinkholes rising in Florida

In Florida, two homes were recently swallowed up and several others had to be evacuated. Sinkhole insurance remains a rare thing among homeowners, even when they have seen other homes swallowed up by these occurrences. The reason for nearly all of them is exactly the same. That said, this wasn’t good news for the property owners whose lives have been devastated after losing their homes to a rapidly growing Florida sinkhole. The coverage isn’t without its appeal but it comes with a price tag many feel they cannot afford. Unfortunately,…

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Holes in Homeowners Insurance Policies

Homeowners Insurance Rates

Homeowners insurance is something that every owner has to have. Your home might be your biggest asset and is probably the biggest purchase you will ever make, so it would stand to reason that you would want to protect it from unforeseen events that might harm it causing expensive damage. And you’re not the only one who wants to protect your home, at least while it’s still partially owned by the bank. While you are paying off your mortgage, you are also required to have homeowners insurance to protect the…

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What consumers should know about buying earthquake insurance

The number of earthquakes in states that are not known for tremors – such as the recent 5.6 point quake in Oklahoma and the earthquakes in Colorado and Virginia this summer – have underlined the fact that flooding, severe weather, and fires are not the only types of natural disaster that can cause damage to a home, no matter where you live. Though California is the state that is at the highest risk of earthquakes, and it is also long overdue for another major tremor, states that consider quakes to…

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