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condo Archives - Horan Companies - New York Insurance Agency, Baldwinsville, NY

Blog-Homeowners-PolicyHomeowners InsurancePersonal Insurance

My Homeowner’s Policy Covers Fire, Right?

As a personal lines insurance agent for many years, I cannot say I have seen it all. However, I have seen a lot. I think the more important thing is what I have not seen, but very easily could have. I apologize if this seems cryptic, so I’ll explain. For most homeowners, their initial response is, “Yes, my house is insured if it catches fire!” and usually they would be correct. This is not about the usually. This is about the unusual that I’m beginning to see more and more frequently. “The House is for Sale! We’re out of here!”…
January 22, 2021
Personal Insurance

Escrow paid?

Question 64 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/Pc2_qQzW1vQ If you are first time home buyer, a lot can be lost in the shuffle as you move through the process of closing. One item is how your home insurance is paid. Most times, when your homeowners policy comes up for renewal the following year, the payment will be made by your lender. Watch this video for further explanation.
October 9, 2017
Homeowners InsurancePersonal Insurance

Loss of Use, is it Worth it?

Question 9 in 100 Insurance Questions in 100 Days! https://youtu.be/JX3wtXdju3I There is a portion of a New York Homeowners Insurance Policy that is often forgotten about. It is called Loss of Use or Additional Living Expense coverage. It's the amount of money your insurance company will provide to you for expenses incurred due to living elsewhere after a claim. If you were to have a fire loss, and the home were to be uninhabitable, you would still be responsible for property taxes, insurance, and of course, any loan payments on the property. Yes, the bank will expect to be paid…
August 16, 2017
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