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Jimmy Said:

if you rent an apartment do yo have to have insurance on your property?

We Answered:

You can easily check your quotes in internet, for example here - homeinsurance.awardspace.us

Marvin Said:

Flood question- Sewage backup- insurance company covers flood not sewage what do I do???

We Answered:

Do you have a flood policy? Most people only have a homeowners policy. A homeowners policy does not cover flood.

A homeowners policy might have an endorsement for back up of sewer. Check to see if your homeowners policy has that.

Please post more details.

Beth Said:

Condo flooding whose insurance cover what?

We Answered:

that would be your homeowners insurance probably, not the condo assn's

Margaret Said:

Insurance- please help! If no flood insurance, and a friend helps with the basement, does homeowners' cover i

We Answered:

Um, you are talking about two different things. A flood is an Act of God, and you can't be held liable if your friend is on your property and gets injured because a flash flood occurs.
Now if we take away the issue of flood and deal with your friend being injured on your property, you are only responsible for his injuries if it can be proven that you were even partially negligent, then you are liable. If your friend trips on loose carpetting, then you would be liable. If your friend decides to lick a wall socket for fun, then I couldn't see how you would be liable. When it comes to Liability Insurance, it all depends on what can be proven in a court of law which will determine if you are covered (subject to policy conditions). With property insurance it depends on what causes the damage and what your policy covers and doesn't cover which will determine if you are covered. The only exception to the former is that most Homeowner's policies have a coverage which will allow you to pay for someone else's injuries even though you are not liable. This coverage is limited, but it's better than nothing.

Jeff Said:

How much are you paying for homeowners insurance in Louisiana?

We Answered:

The deal is, everyone is trying to file wind claims. Because the majority of people on the Gulf coast do not have flood insurance, this is the only way they could hope to get money.

The insurance companies began to dispute these claims. Saying the damage was due to flood, not wind. The courts have now begun to mandate the insurance companies to pay, even on some claims that were blatantly flood damaged.

The insurance companies are terrified that if another disaster like this struck, they would be left to fit the bill regardless of any exclusions (flood) they have in their Homeowner's policies. So, to defend themselves from potential bankruptcy, they have begun to pull out of the area all together. Your insurance premium is very high, because frankly, they don't want your business. It's too much risk for them, thanks to your local court system.