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Most umbrella policies are going to require their own minimums for the underlying policies that you have.
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Feb 2, 2023 20:08
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| # ¿ May 12, 2024 23:43 |
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Here's a good general overview, but like with all insurance related questions, check your specific policy and ask questions of your agent if you're not clear. https://www.allstate.com/resources/personal-umbrella-policy/what-is-umbrella-insurance "Meanwhile, a personal umbrella policy typically provides greater liability coverage for situations covered by your underlying policy, as well as protection for other risks. For example, umbrella insurance can help pay for a libel or slander judgment against you, while a standard homeowners liability coverage, even if you have excess liability coverage, probably will not."
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Feb 17, 2023 04:06
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Your insurance is almost certainly not going to cover anything other than the actually damaged cabinets. What does your policy actually say? That's your answer. Ask the insurance rep to tell you where you can find the policy language to review. I feel like the contractors are filling you full of poo poo because they know if they do it they'll get paid regardless, whether that's you or insurance having to foot it.
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Apr 27, 2023 16:58
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So when I had some roof damage from a storm a few years ago, my contractor wanted to replace the whole half of the roof while the insurance initially only wanted to replace certain sections. The contractor called the claim rep and explained why they felt the whole portion of roof needed replacing and the claim rep agreed and covered the whole thing. It's worth a shot.
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Apr 27, 2023 17:12
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Also it's not.just your own personal loss experience that affects your rates. If the insurance industry as a whole has a bad year they will likely file an overall rate increase for your state and it will impact you!
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Jun 16, 2023 04:16
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H110Hawk posted:No, that part is speculation on my part. I just called yesterday to get a quote on a house we were thinking about putting in an offer on and got referred out. We have an old fixed deductible policy ($1k) that they stopped writing a bit back as well. Well yes, that would be new business if you are buying a new house. Renewals refer to renewing your current policies with your current properties.
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Jun 20, 2023 16:32
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You can't really fight against a rate increase. Your insurance company has already filed those rates and the rating algorithms they use and had them approved by your state. All you can do is take your business elsewhere if you can find a place that has cheaper rates for you.
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Jul 22, 2023 00:15
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Boris Galerkin posted:I saw my doctor in December but didn’t get an official bill for it until 12/25. I got an explanation of benefits for this in 2023 from my insurance I believe. By the time I got around to paying it it’s January (this week). It's based on the date of service, not the bill or pay date So it goes toward 2023 deductibles, etc.
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Jan 8, 2024 22:25
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Insurance industry as a whole not having good results, especially in the auto sector, so everyone's rates go up. Your personal driving experience isn't the only thing that goes into eating algorithms.
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Jan 20, 2024 06:56
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You can change carriers whenever you want.
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Mar 6, 2024 18:02
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It might. It might not. It's hard to say it, each insurance company has different rating algorithms and things that feed into them that it's hard to make a general statement. And they generally don't share this information publicly so you really don't know. What's the deductible on your renter's insurance policy? Does your renter's policy cover it at replacement cost or at actual cash value? I'm guessing it's not going to be much over your deductible to buy a new TV.... In which case I wouldn't bother filing a claim.
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Mar 10, 2024 20:06
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Literally Lewis Hamilton posted:Nah, this is bad advice. Yes, I spent a few years of my life handling auto claims and this is exactly correct.
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Apr 29, 2024 16:42
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DangerZoneDelux posted:That’s most likely good to be for a bodily injury liability claim not property damage Nah, the insurance company, if their insured isn't at fault, will absolutely try to recover any money they pay out, regardless if it's for injury or property damage. They have whole departments dedicated to this.
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May 3, 2024 14:03
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| # ¿ May 12, 2024 23:43 |
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I Don't work in claims any longer, but I still work in the property and casualty insurance industry and we have a 500,000 combined single limit for our auto policy, a similar limit on our homeowner's policy, and an umbrella policy over the top of that just because I know how quickly poo poo adds up these days with claims.
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May 3, 2024 16:17
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