Many boat owners assume coverage works the same way from one policy to the next. In reality, boat insurance is not always standardized like auto or homeowners insurance, and those assumptions can become expensive. A misunderstanding about winter storage, homeowners coverage, navigational limits, or settlement value can increase boat insurance cost, reduce a claim payment, […]
A trip to Maine, a winter move to Florida, or a run to the Bahamas can take a boat beyond the waters listed in its insurance policy. When that happens, coverage may depend on a navigational warranty that identifies where a vessel may operate and, in some cases, where it may be located during hurricane […]
Agreed value boat insurance and actual cash value coverage may appear side by side on a quote, but they can lead to very different claim settlements after a loss. Actual cash value coverage pays the boat’s replacement cost minus depreciation, while agreed value coverage pays an amount that the owner and insurer establish upfront. For […]
For most Connecticut homeowners asking if a new roof can lower homeowners insurance, the simplest answer is that it can, with the right policy update. A new roof also determines which carriers will write the home and how a future roof claim gets paid, and both of those may outweigh any line-item discount on your […]
Reviews of a roof’s age for homeowners insurance may begin around year 10, well before a roof leaks or looks worn from the street. Between 10 and 25 years, a Connecticut homeowners policy can move through an inspection requirement, a shift to actual cash value, and in some programs, a decline. The roof year your […]
For homeowners wondering what happens if you don’t have homeowners insurance, the most likely outcome is that some losses during the gap may be yours to pay. The longer-term homeowners insurance lapse consequences are less obvious. A gap can change which carriers will write policies on the home, what the next policy costs, and how […]
Many Connecticut food and beverage manufacturers already carry food product liability insurance because product coverage is built into a standard commercial general liability (CGL) policy. The gaps tend to surface when a retailer’s supply agreement arrives with an insurance exhibit calling for a separate product aggregate and a vendors endorsement that the current policy may […]
A house in Greenwich or Westport can carry a rebuild cost with very little relation to what the property would sell for. The homeowners policies that national insurers sell in volume were built around a median American house, which this corner of Connecticut doesn’t match. High net worth insurance is designed to underwrite the difference. […]
