Some property doesn't fit well under a policy built around one address or one broad category. A $9,000 ring is one example. So are a plumber's tools that move to a new job site every day, and a load of water heaters riding on a truck.
About 18 minutes
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Recommended first: Who and what is covered—and what changes it, Commercial property: build the package, classify the loss. Suggestions, not required steps.
Open lesson →When water damages a home, it's tempting to ask one big question: "Does flood insurance pay?" That question is too big to answer. Break it into three smaller questions and ask them in order:
About 28 minutes
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Recommended first: Map a homeowners loss to the right coverage, Commercial property: build the package, classify the loss. Suggestions, not required steps.
Open lesson →Before you work out how much a property claim pays, answer a more basic question: does any of the person's policies cover what caused the damage? If none does, the person has a coverage gap: a kind of loss that their current insurance does not pay for. In that case there is nothing to calculate.
About 16 minutes
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Recommended first: Map a homeowners loss to the right coverage, Commercial property: build the package, classify the loss. Suggestions, not required steps.
Open lesson →A manufactured home, a boat and a farm each involve several different things the owner could lose. A manufactured home comes with a shed and the family's belongings. A boat comes with a motor, a trailer and gear. A farm combines a family household with a business. Before you can decide whether a loss is paid, ask one question: which piece of property, or which person, is this loss about?
About 23 minutes
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Recommended first: Map a homeowners loss to the right coverage, Commercial property: build the package, classify the loss. Suggestions, not required steps.
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