Flood Insurance 101 888011000 110888 MoneyTipsThe National Flood Insurance Program is a government program run by the Federal Emergency Management Agency (FEMA). If your house or company lies within a 100-year flood zone as identified by FEMA, you will be required to acquire flood insurance coverage to get a home loan or service loan. Flood insurance coverage must be bought as a different policy due to the fact that flood damage is omitted from the standard insurance coverage. You can purchase a policy for simply the building, just the contents or for both building and contents. If you do not have a loan or home mortgage you do not need to acquire flood insurance. Nevertheless, lots of companies today will not offer house or company insurance coverage to someone who remains in a flood zone however picks not to buy flood insurance coverage. If your house or organization is not in a flood zone you can still purchase flood insurance coverage via a “preferred policy” which is significantly less expensive and consists of coverage for both the building and contents. There is a 30-da …

by admin November 12, 2013, 7:08 am 1.2k Views

The National Flood Insurance Coverage Program is a government program run by the Federal Emergency Situation Management Firm (FEMA). If your house or company lies within a 100-year flood zone as figured out by FEMA, you will be required to buy flood insurance to get a mortgage or company loan. Flood insurance coverage must be bought as a separate policy since flood damage is excluded from the basic insurance plan.

You can acquire a policy for just the structure, simply the contents or for both building and contents. If you do not have a loan or home mortgage you do not have to acquire flood insurance coverage. Nevertheless, lots of companies today will not sell house or business insurance to somebody who is in a flood zone however picks not to acquire flood insurance coverage.

If your home or business is not in a flood zone you can still purchase flood insurance coverage through a “favored policy” which is substantially less costly and consists of protection for both the building and contents. There is a 30-da …

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Comprehensive Loss Underwriting Exchange 101 888011000 110888 MoneyTipsIf you are acquiring or offering a house, a mortgage broker might recommend that you get a HINT. That’s not an insult; rather, it’s a reference to a report from the Comprehensive Loss Underwriting Exchange, otherwise referred to as CLUE. What is the CLUE Insurance Coverage Report? The IDEA report remains in essence an extensive insurance declares history over the previous seven years that includes info on when money is paid on a claim, when claims are denied, and when files are produced for future possible claims. Insurance provider pool their personal effects claims histories into a collective database, and a CLUE report enables specific parties to pull a report to show cumulative insurance activity that crosses several insurance companies. Reports can focus on the history of people or on specific residential or commercial properties– homes or vehicles. Within real estate, CLUE reports can be utilized to check the history of a home and ensure that there are no concealed insurance coverage claims …
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