Courtesy of iii.org There's a difference between an insurance company cancelling a policy and choosing not to renew it. Learn why your insurance might not be renewed Auto insurance cancellation Insurance companies cannot cancel a policy that has been in force for more than 60 days except when: You fail to pay the premium You have committed fraud or made serious misrepresentations on your application Your drivers license has been revoked or suspended. Auto insurance non-renewal Either you or your insurance company can decide not to renew the policy when it expires. Your insurance company must give you a certain number of days notice and explain the reason for not renewing before it drops your policy (the exact timeframes and rules will depend on the state in which you live). There are a number of reasons an insurance company may choose not to renew a policy, and it may have nothing to do with you personally. For example, your insurer may have decided to drop that …
Insurance
Insurance for a Condominium Insurance?
Courtesy of iii.org Because co-op and condominium owners share their building structures, two policies—a master policy and an individual policy—are required to fully protect all parties involved. Learn more about insuring a co-op or condo. If you are purchasing a condo or co-op, the bank will require insurance to protect its investment in your home, and your co-op or condo agreement will likely require you to have insurance, as well. There are actually two different policies necessary to fully insure co-ops and condos—a master policy for the building, and an individual policy to cover you for liability, to protect your belongings and to insure any apartment structural elements that are not covered by the master policy. Here's what you need to know about each type of insurance. The master co-op or condo policy This is the policy that protects the entire apartment structure; the building management is responsible for it and its premiums come out of your maintenance fee …
Protect Your Valuable Gifts
Courtesy of iii.org The holidays are a time of giving and receiving gifts, but would you be able to replace those gifts if they were destroyed in a fire or other disaster? A home inventory is the best way to protect your personal possessions, yet only 50 percent of homeowners said they had an inventory in a 2016 Insurance Information Institute (I.I.I.) survey. That’s where Know Your Stuff®, the free, award-winning home inventory app can help. The I.I.I.’s Know Your Stuff® home inventory app allows you to enter information on mobile or desktop and syncs across all your devices so you can access it anywhere, at any time. It can help you: Purchase enough insurance to replace the items you own, if they are stolen or damaged. Get insurance claims settled faster. Substantiate losses or charitable donations for tax purposes. Keep track of items that require maintenance or repair. Declutter and organize your home. “With the average property damage and liability claim …