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loss of use Archives - Horan Companies - New York Insurance Agency, Baldwinsville, NY

Homeowners InsurancePersonal Insurance

The Absurd Value of Homeowner’s Insurance

The Absurd Value of Homeowner's Insurance Homeowner's insurance is one of the most common forms of insurance because similar to cars, many lenders won’t allow you to buy a home without first having insurance in place to protect it. Those lenders understand how important homeowners insurance is. When you break down everything it covers, the premiums you pay every month can seem like a steal. The average homeowners insurance premium is somewhere around $1,000 a year. This can be higher or lower depending on where you live. For the math though, $1,000 is a nice round number that will make…
November 1, 2019
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
Homeowners InsurancePersonal Insurance

Neighbor’s Tree Fell on your Property? Who Pays?

When the Neighbor's tree falls on your property...who pays? https://youtu.be/_GvsSu0afSA Have you ever wondered what would happen if that giant ash tree of your neighbor's decided to take a fall...onto your house? Trees are wonderful, grand specimens that mother nature has so generously provided to us. Unfortunately, every tree will eventually make its way to the ground. Unless, it gets stopped along the way. Then what? For those who have never had this happen, your first call might be to your neighbor to say "Good morning, your decrepit tree came down and caved in my roof last night. Let's get…
August 7, 2017
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