know insurances law,rights and obligations
Fire insurance is a contract of insurance against the loss/damage by accidental fire or other occurrences customarily included under a fire policy. Types of Fire Policies 1.Standard Fire and Allied Perils Policy The “Standard Fire and Allied Perils Policy” popularly known as SFSP, covers the following perils: More covers can be added( Add-on Covers) by…
Homeowners insurance is one of the most important purchases that you can make to protect your home — and by extension, your family — from unexpected expenses that you would otherwise need to cover yourself. If you’re in the market for homeowners insurance, you probably have a lot of questions. How much coverage do you need? How much…
Whether your home was destroyed or partially damaged in a fire, the experience can have a long-lasting mental and financial impact on you and your family. In the aftermath of a house fire, it’s important to ensure family members, including pets, are safe and have temporary shelter if needed. You should file a claim with…
A house fire can be devastating. While usually, thanks to devices such as smoke and heat alarms, everyone gets out safely, possessions and valuables can be destroyed. This is why it’s so important to have home insurance. While you can’t get the items themselves back, you’ll be covered for any financial loss, and this could be…
Practical Items to Have in Your Car for Convenience and Safety Having a well-prepared car equipped with essential items can significantly enhance your convenience and safety, especially in unexpected situations. Whether you find yourself in an emergency, such as an accident or a breakdown, or simply need to manage everyday tasks, certain items stored in your…
Documents to Keep in Your Car: Vehicle Registration Vehicle registration is a critical document that verifies your vehicle is officially registered with your state’s motor vehicle department, confirming you have fulfilled all necessary taxes and fees for your tags/license plates. It is mandatory for your vehicle to be registered before it can legally be driven…
Regulation State-based insurance regulatory system Historically, the insurance industry in the United States was regulated almost exclusively by individual state governments. The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. Prior to this period, insurance was primarily…
HISTORY INSURANCE The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contribution ship, which is the nation’s oldest insurance carrier still in operation. Franklin’s company was the first to make contributions…
Navigating Auto Insurance Requirements in the United States Crash In the United States, automotive insurance covering liability for injuries and property damage is compulsory in most states, but different states enforce the insurance requirement differently. Penalties for not purchasing insurance vary by state, but often include a substantial fine, license and/or registration suspension or revocation,…
Loan/lease payoff Loan/lease payoff coverage, also known as GAP coverage or GAP insurance, was established in the early 1980s to provide protection to consumers based upon buying and market trends. Due to the sharp decline in value immediately following purchase, there is generally a period in which the amount owed on the car loan exceeds…
