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Property damage: Umbrella coverage could apply to property damage that you cause to others. Like liability claims, coverage would also only apply if the damage exceeds your underlying policy ...
Umbrella insurance extends your liability coverage. Here’s how to buy it.
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).
Excess insurance is similar to umbrella insurance in that it pays after an underlying primary policy is exhausted. The critical difference is that excess policies are normally "follow form" policies that conform exactly to the coverage of the underlying policy, except that they add on their own excess limit which is then stacked on top of the primary policy's limit.
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Insurance rates for some condo projects in Hawaii have soared by as much as 1, 000 %, according to the governor, due to global insurance industry dynamics tied to more catastrophic events around ...
After builder risk coverage expires, due to sale or occupancy, the new owner typically obtains permanent property insurance on the building such as a home owner's policy or a commercial property policy. Insurance costs generally run between one and four percent of the construction cost, depending upon the type of insurance purchased and ...
A Honolulu City Council resolution wants state lawmakers to address what it deems are “drastic ” increases in property insurance premiums paid by homeowners across Oahu, particularly for those ...