RCV
What is a Proof of Loss?
By Wesley J. Farrell, Esq. After a loss, an insurance company will sometimes request that you complete and sign a form called a Proof of Loss. A proof of loss is a statement of the amount of money being requested in your insurance claim and it must be signed and notarized. A Proof of Loss is…
Read MoreUnderstanding Different Types of Homeowners Insurance Policies
By Jesmany Jomarron, Esq. Homeowners coverage provides financial protection against loss due to disasters, theft and accidents. Most standard policies include four essential types of coverage: Coverage for the structure of your home; Coverage for your personal belongings; Liability protection; and Coverage for Additional Living Expenses. Depending on your home and which insurer you choose,…
Read MoreAdditional Living Expenses: What You Need to Know
By Wesley J. Farrell, Esq. One of the most valuable portions of a residential insurance policy is often overlooked when an insured purchases the policy. Living Expense coverage provides compensation to you when you are unable to live in your dwelling or home due to an insured loss or claim, while your home is being repaired. Most…
Read MoreWhat is Law and Ordinance Coverage?
By Mario E. Lopez, Esq. Even if your home is insured for replacement cost value, if you do not have Law and Ordinance Coverage, you probably do not have the protection you think you have. A standard replacement cost policy will pay to replace “new for old,” but only if the building codes (ordinances or…
Read MoreTop 5 Insurance Claim Tips
By Mario E. Lopez, Esq. When disaster strikes, stress and the feeling of being overwhelmed and unfamiliar with the process can make your property damage claim a lot worse. After all the years of paying your home insurance premiums, you expect to be covered for all of your losses. Here’s five insurance claim tips: 1.…
Read MoreReplacement Cost Value vs Actual Cash Value
By Jesmany Jomarrón, Esq. Terms like Actual Cash Value and Replacement Cost Value are seldom used outside of the property insurance industry. However, they determine how much an insurance company will pay you for your property insurance claim. After your insurance company determines that an insurance policy provides coverage for a loss, the insurer has…
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