I never had a claim before and the insurance adjuster is coming today. What exactly does an adjuster do and what should I expect?

There are two types of adjusters. The first is an independent, licensed professional hired by your insurance company to investigate your claim. Independent adjusters typically specialize in a certain type of loss, for example, business income, liability, fire, and have the expertise in settling those claims. The other type of adjusters work for the insurance company and are called staff adjusters.

I have been paying for insurance for decades and I’ve never made a single claim. Last week my porch steps gave way and it is going to cost a lot of money to repair. The insurance adjuster says it is not covered by my policy since it’s considered ‘wear and tear’. Why do I have insurance at all if I pay all this money all these years and I can’t use it when I need to?

Who do you know who is a tenant in an apartment or home and thinks they don’t need tenant insurance?

A tenant left his bedroom window open for fresh air and came home after work to find some pipes in the nearby wall frozen. The pipes burst and the result, of course, a big mess. The landlord’s insurance paid for the building repairs but subsequently his insurance company came after the tenant for the cost of repair, $8,600.00 because the tenant had been at fault. The tenant’s insurance company paid the liability claim.

The cost to the tenant for his insurance $149.00 annually.

Small business insurance, whether you operate out of your home or at an outside location does not have to be expense. Some small business packages are less than $30.00 per month and coverages are many. Business tools and equipment, computers, transportation, loss of business income due to an insured peril, the biggie liability and even tenant legal liability if you need it are all included.

Some insight on purchasing insurance and how important it is to build a trusting business relationship with your insurance professional/provider.

Insurance is such a unique product. Just think about the process of actually buying it. Is it anything like purchasing groceries, the latest DVD or a new pair of shoes? Absolutely not!

I have replacement cost on my policy. The insurance company is going to replace my camera. Right?

Everyone who has an insurance policy knows about Replacement Cost. Everyone thinks it is as simple as that. You have a loss and the claim is paid in replacement cost terms. Well, most claims are paid as replacement cost terms. But you should be aware of the full insurance wordings on this important clause and I quote: