My Property Insurance Was Cancelled
So you just received a cancellation or a nonrenewal from your insurance carrier – now what should you do? We recommend that you follow these steps:
My Property Insurance Was Cancelled Read More »
So you just received a cancellation or a nonrenewal from your insurance carrier – now what should you do? We recommend that you follow these steps:
My Property Insurance Was Cancelled Read More »
New Business Full payment by check or money order with a new application or 25% plus $5 to use the quarterly payment plan. Payment Frequency Options Annual. 100% of the annual premium with no service fee. Quarterly. This plan requires 25% of the premium plus a $5 service fee for each payment. The Iowa FAIR Plan
The Iowa FAIR Plan Association does not guarantee policy issue. Non-acceptable dwelling or commercial risks include any property that: is vacant or unoccupied or; has one or more open claim(s) or; has unrepaired damages from any previous claim(s) or; is noncompliant with local building codes and/or condemned. Additionally, properties are ineligible for the Homeowners 8 Program
The DP-1 and HO-8 policy forms do not define ACV and that can leave it to case law. Some courts have interpreted ACV to mean fair market value, i.e., the amount a willing buyer would pay a willing seller in an arm’s length transaction. Other courts have upheld the insurance industry’s traditional definition: the cost to replace
Actual Cash Value (ACV) Read More »
The Iowa FAIR Plan Association uses an independent inspection firm to inspect all properties, and such inspections are done at the expense of the Plan. All properties written by the Iowa FAIR Plan are subject to inspection for eligibility and pricing. Inspectors usually will not go inside the property unless there is evidence of a
Property Inspections Read More »