What is the cost of homeowner’s insurance on a $100k property ?
I am a single, first-time homebuyer and am curious how much I should expect to pay per month for homeowner’s insurance. My home budget is $100k and under; I will likely purchase a foreclosure and/or condo/townhouse. I have been steadily employed at the bank where I work for 3 years, have no debt aside from credit cards which I usually pay in full every month, and my FICO is 719. I know the rates will vary but if you can help with a realistic ballpark that would be helpful. I would also like to know which types of properties will have lower insurance rates. Helpful answers are appreciated.
It can be anywhere from $400 to $5,000 a year, depending on coverages, location, your credit score, and claims history, and the age/condition of the house.
For cheaper rates, stay away from houses more than 25 years old, or more than 5 miles from a fire department, or made from wood, or in the states of TX, LA, FL, or CA, or anywhere coastal, or near a large body of water.
Condos LOOK cheaper, but catch you on the fees.
I think you really need to talk to a local real estate agent. When you look at properties, one of the things on the sheets is insurance and taxes cost.
Filed under Home Insurance by on Feb 27th, 2010. Comment. 
Medical professional liability insurance is another name for medical malpractice insurance. There are two types of medical professional liability insurance, claims-made and occurrence policies. There are advantages and disadvantages to each of these types of policies.
Claims-made insurance policies are one year long policies that are renewed each year without interrupting the coverage. Any claims made during the claims-made policy period will be covered, no matter when the incidence actually occurred, as long as the incident occurred after the original purchase of the claims-made policy. This means coverage is retroactive back to the first policy. This type of medical malpractice insurance is cheaper in the first few years of coverage as it is less likely claims will be made in the first few years of coverage. Premiums increase each year up to five years, when the reach the approximate cost of the occurrence policies.
Once a claims made insurance policy is cancelled, no further claims are covered. However, tail coverage can be purchased to cover any claims that occur for a certain amount of time after cancellation.
Occurrence medical professional liability insurance covers all claims that occur during the coverage period, regardless of when the claim is made. Because there is no way of knowing how many claims will eventually be made due to actions occurring any given year, the premiums for occurrence medical malpractice insurance are not necessarily cheaper in the beginning like they are with claims-made policies. This type of insurance covers the doctor forever against claims that result from the period in which the policy was in effect.
Both of these forms of medical professional liability insurance are very expensive, so there are currently a lot of organizations working on proposals to solve the problem of compensating any patients with legitimate medical malpractice claims without doctors having to pay huge premiums for liability insurance.
Some of the proposed solutions for the medical professional liability include capping non-economic damages, trying medical professional liability cases in a tribunal system outside of the main court system, use a no-fault system for compensation, using alternative dispute resolution methods like arbitration and medication, and using screening panels to review cases and determine whether or not cases should proceed to court.
Doctors need to have medical professional liability coverage in order to protect them from medical malpractice claims, which could otherwise bankrupt them should they occur. Doctors can lose a lot of money even on medical malpractice claims where they are not at fault, as they have to prove this.
In order to get the best deal on medical professional liability insurance doctors should check around with the different insurance companies to see which offers the best policy at the best price. The cheapest medical professional liability policy is not always the best, as different policies cover different things. Source: Medicalmalpracticeaid dot com
Get free medical malpractice information about medical malpractice insurers, settlement, expert witness and interrogatories at Medicalmalpracticeaid dot com
Filed under Home Insurance by on Jan 25th, 2010. Comment.
Generally, most people have a misconception about their insurance agent. They believe that because they have been paying their annual premiums that the agent is concerned about doing what is right for them. While that may be true for a small number of agents, most agents on the other hand know their loyalty is to the insurance company for which they work.
When the adjuster comes out to examine your damage, he or she wants to save the boss as much money as possible. And that means they will do whatever it takes to minimize the value of your claims.
Of course, you won’t be thinking about all of these issues at the time. You will be worried and stressed because of the accident, the fire, the storm, or whatever may be the cause of your claim. And that is why it is important for you to use an insurance claims specialist.
What Does an Insurance Claims Specialist Do?
Insurance claims specialists work with people like you who need assistance in filing their claims and in handling all of the other responsibilities that may entail. The specialist can come into the picture and help you answer questions from the insurance company and deal with all of the other professionals who will be involved in making you whole again. You won’t have to deal with the phone calls, emails and letters from the insurance company, the contractors, or anyone else. All of that will be handled by your claims specialist. You just work on getting your life back together.
Another important service is that an insurance claims specialist can help you interpret the fine print of your policy. Most of us don’t understand the jargon insurance companies use to explain our coverage, the policy exceptions and other elements. They can step in and help you make sense of all the details so you will be armed with knowledge.
Specific Services from Insurance Claims Specialist
As soon as you need to make an insurance claim, you should call in your specialist. Because you will need to make sure your story is coherent, you can work with the specialist before you start answering questions from your agent. Additionally, if you need a temporary place to live or a rental car or even cash to hold you over until you can begin receiving funds from your policy, your insurance claims specialist can take care of all of these areas for you.
Once your basic needs are taken care of, your specialist will start assessing your damages. He or she will be able to provide a true estimate of what you have lost as a result of the accident, fire, or other destructive event. They can also examine your policy and decide what you can expect to receive based on those damages.
After the wheels of the claims process are set in motion, your representative will work with the professionals on your behalf and will help to negotiate the type of settlement you desire and for the amount you deserve. Remember they will be working for your interest not the insurance company’s.
Derek Rogers is a freelance writer who represents a number of UK businesses. For Loss Assessor Consultants and Insurance Claim Specialists, he recommends Morgan Clark.
Filed under Home Insurance by on Dec 25th, 2009. Comment.