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July 19, 2007


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Gotta love those insurance companies.

Not sure about the rental cars around here as I haven't rented in a while. Howeer this is one option that I like about my home insurance. When I was purchasing the home the information was sent to my Lawyer as the replacement value as listed was $1,000,000. We called assuming it was a type-o since on the phone they calculated my replacement value on my square footage at just under 180K.

Turns out they have a policy in place that the replacement cost is calculated at the time of a loss based on the most recent available home data in the area up to the $1,000,000 listed. So no need to keep looking over policies year after year.

I still will be reviewing the policy and comparing providers yearly, just to be sure I'm still getting a good deal, but it's just one less thing on my mind, so I'll probably stick with them a while.

@ "Having lived in Florida, I have witnessed how the insurance companies look for any little violation to deny a claim. Numerous homeowners in Florida were denied a claim after the slew of hurricanes hit in the last few years."

Just to throw this out there: it is my experience that companies offering homeowners insurance are not "look(ing) for any little violation to deny a claim". You buy a policy, if the policy does not cover xyz problem, then you will not be reimbursed for xyz if it happens. Lesson: buy the right policy for your needs.

re hurricane damage: Basic homeowners insurance does not include flood damage. You must buy additional flood coverage. Your ins. company administers the plan, the federal government determines the limits/benefits of coverage.

The bast part of the guest post "You need to review your policies"

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