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insurance: Should I lower the amount I insure my home for? - 04/15/09 11:19 AM
Since housing prices have dropped, I've been getting more and more inquiries from homeowners about whether they should lower the amount they insure their home for. Great question.
The price that most homeowners see going down is the market value of their home. The 'market' value of the home is really the value the house and land together can fetch if it were sold to a buyer on the open market.
On your insurance policy, your home is normally insured to its replacement cost. This price is considered to be the amount it would cost to rebuild the home if it … (3 comments)
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insurance: NC Beach Insurance Plan Update - 12/17/08 10:54 AM
Finally, the NC Department of Insurance has decided to take on the mounting financial problem facing North Carolina's Beach Plan. A second major carrier has withdrawn from the home insurance market and more are getting ready to follow. Our newly appointed, er, elected commissioner, Wayne Goodwyn vows to take the bull by the horns. The problem is that the only solution entails raising premiums and lowering coverages. Not good choices when you're an elected official.
But here's the good news: since the election is over, he can push through any unsavory elements and still have enough time before the next election … (1 comments)
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insurance: Two Fortune 100 Insurance Companies In Trouble - 11/03/08 01:38 PM
This week, TWO FORTUNE 100 INSURANCE COMPANIES are out looking for capital to shore up their books. Both companies suffered losses in their investment portfolios and now need cash infusions to remain solvent. This is a pretty scary situation given that insurance companies are supposed to be the most risk-averse and conservative when it comes to investing their money. I can't say this any more clearly: Make sure you look at the most recent financial rating of any insurance company you plan to purchase insurance from. If they've been recently downgraded, that is a warning sign to all investors and customers.
I'll … (0 comments)
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insurance: NC Beach Plan in Peril - 10/24/08 09:48 AM
Have you ever seen the series 'Planet in Peril' on CNN? Well, we've got our very own perilous situation right here in North Carolina. Our insurer of last resort along the coast, 'The Beach Plan' is in trouble. A new independent study performed by The Property & Casualty Insurers Association of America finds that the Beach Plan is not financially prepared to handle even a single severe storm.
What does this have to do with you? Well, nothing if you don't live in North Carolina. But if you are lucky enough to call The Old North State home, then it has … (0 comments)
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insurance: Insurance Purchasing Basics - 09/05/08 11:20 AM
Finally, a mainstream news article that tells it like it is about buying insurance. Although the article is written specifically for purchasing auto insurance, you can quite easily translate the advice into home insurance buying or any kind of insurance purchase for that matter. The two most important points in the article in my opinion are:
1.) Insurance shouldn't be treated as a commodity like buying gas where you look for the best price no matter what.
2.) Always buy from a reputable agent who offers all lines of coverage.
I can't tell you how many prospects we come across who … (3 comments)
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insurance: Why not buy it online? - 06/30/08 03:19 PM
Let’s face it, we live in an online world. It seems like every other purchase we make nowadays takes place with a virtual vendor: Movies, music, computers, electronics, books, clothes, etc. The list goes on and on.
Obviously, the two main reasons people buy online are convenience and price. But there are many hidden disadvantages for buying online.
As service oriented industries, real estate and insurance are very similar. In both fields you have to get to know your customer by discovering their specific needs. Only then are you able to make educated recommendations regarding their purchase.
Is there a … (8 comments)
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insurance: North Carolina Homeowners Insurance is not flood insurance - 06/20/08 04:27 PM
For anyone who's been watching the floods in the midwest (and that should be everyone), I wonder if you've asked yourself if your homeowner's policy would cover that type of loss? If you live in North Carolina the answer to that question is NO. The peril of flood is explicitly EXCLUDED from standard homeowners policies.
So if you live near a river, stream, creek, pond, lake or other body of water, I highly recommend that you get a flood insurance quote from a local insurance agent. The prices are THE SAME with every carrier. The rates are set by … (0 comments)
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Cameron Bagherpour ~ North Carolina Insurance
Cary,
NC
More about me…
Cary & Raleigh, NC Insurance
Address: 150 Cornerstone Dr. #202, Cary, NC, 27519
Office Phone: (919) 460-0606
Email Me
Home Insurance, Auto Insurance and other associated insurance info related to the buying and selling of real estate.
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