Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

In Depth Review of Homeowner Policy - Term Paper Example

Comments (0) Cite this document
Insurance policy is a legal contract between the policyholder and the insurance company wherein the insurer has to pay premiums to the insurer in exchange of claims covered in the policy. The policy contract describes the coverage, restrictions and the deductibles applied and the premiums to be paid…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.7% of users find it useful
In Depth Review of Homeowner Policy
Read TextPreview

Extract of sample "In Depth Review of Homeowner Policy"

Download file to see previous pages In Depth Review of Homeowner Policy

As a policy holder myself, coverage differs from one policy to another. My homeowner policy covers for several things. It includes the physical property damages. In section 1, coverage A of the policy, it states that it pays for a certain percentage of the structure of the home when physically damaged. Included in this section are the roofing, flooring, light fixtures, appliances, kitchen appliances and washers. The policy also covers for the structures that are part of the main house but are considered extensions like the garage and fences however with a small percentage which is about 10 percent of the cost of the main structure insured. Additional living expenses during the peril of fire or lightning, windstorm or hail and explosions are covered too. This is when the owner seeks for a temporary lodging. It takes 20% reimbursement from the structural coverage of the property. My personal property is also covered but scrutinizing it shows some limitations. Jewelleries when not appraised and scheduled separately in a policy will not be all covered when stolen. The amount limit to be paid only is $1000 even if the value of the jewelleries is three times the limit. In addition the policy exercises the limit in the China wares, cash, and firearms when stolen. In this connection, it is always best to protect personal properties. According to William (2007) it is advisable not to keep valuables in the bedroom because it is the most part of the house being searched by burglars. What is good in my policy is that it has an extra endorsement to cover for an expensive loss of personal belongings. However, if the insurance company pays the stolen personal properties, it is going to price it with today’s value and not the former price when you purchased that personal belonging before minus the depreciation value. However, to avail of these inclusions, the insurer has to make sure her policy has the broad form or the all peril coverage. Having this type of coverage would make the policy holder covered for everything with the exception of those within the exclusion of the policy. Most often, policyholders are tricked with this scheme where they believed there are no exceptions. Insurance companies are very tricky in their business that if there is no review done by the policyholder, he will fall into their trap. An example of this situation is the case of Ward Gen. Ins. Svcs. Inc. vs. Employers Fire Ins. Co. (CBS interactive, 2010) who went into hearing to dispute the payment of her loss regarding her data in the computer. The court found out that the loss was not included in the coverage because it was not a direct physical loss. Physical loss means material existence that is tangible (Viau & Kwasniewski, 2001). To this effect, it is clear that the insurer has also to understand the languages used by the insurance companies. The understanding of the term physical loss in the policy is not in congruent to the definition of the insurance company thus fighting the dispute in court is a disappointment on the policy holder’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“In Depth Review of Homeowner Policy Term Paper Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from
(In Depth Review of Homeowner Policy Term Paper Example | Topics and Well Written Essays - 2250 Words)
“In Depth Review of Homeowner Policy Term Paper Example | Topics and Well Written Essays - 2250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF In Depth Review of Homeowner Policy

General Electric Long Term Financing Policy

The tagline of the company is becoming “bringing good things to life” (“General Electric” n.d.).
Concerning the situation, in this paper, I would like to discuss three sections of General Electric issues. Section 1 is about the company’s long term financing; Section 2 is concerning risk management; and Section 3 is about a synergistic acquisition, which is suitable for General Electric.
In today’s business practices, investors or managements often face a dilemma. At one occasion, they need to develop their business in order to sustain growth but on the other hand they have limited budget to invest. Under such circumstances, a company should consider loan option or use their own money r...
12 Pages(3000 words)Case Study

Has Bush Pursued a Realist Foreign Policy

This discussion will address what will define the entire Bush Presidency, not simply the foreign policy aspect; the illegal, immoral and unrealistic decision to invade Iraq.
The ‘War on Terrorism’ as it is commonly referred to, was a phrase coined by United States government officials and is primarily used to justify the military initiative de jour. It is generally defined as the current conflict between the U.S. and radical Islamic factions with Great Britain being somewhat allied in the effort (Gallington, 2004). Immediately following and as a reactionary response to the 11 September 2001 terrorist attacks on America, Bush stated the country’s intent to initiate a ‘War on Terrorism.’ He charact...
9 Pages(2250 words)Assignment

Putins Foreign Policy Changes during His First Presidential Term

Our world, since its ‘origination’ has been a ‘hotbed’ of activity. Activity in the sense, we humans have been showing activeness both mentally and physically, which have transformed our globe from a primitive one to an advanced one. The activities are normally carried out by humans, organizing or segregating themselves into different countries or nations. It is common knowledge that for a country to reach the top echelons, its leader has to be very capable and strong. That is, a capable and strong leader will only be able to provide a better life and future for his/her country and its citizens. From time immemorial, the success or failure of a country depends on the role, the leader plays. The leader is th...
82 Pages(20500 words)Dissertation

Has Austria Abided by the Austrian State Treaty and Its Neutrality Policy on Bosnia and Its Entry to the EU

With the evolution of humans and territories, new political setups or governance came into being with set rules and regulations, to rule cities, provinces or states and important countries. Most or some of those set rules and regulations to govern countries are brought out as a result of treaties. So, a treaty (an agreement officially signed by countries, international organizations, etc) allows certain actions and restricts certain other actions for the effective functioning of the countries. So, this paper will analyze whether Austria has abided by the Austrian State Treaty and its policy on neutrality while dealing with the conflict in Bosnia, and during its entry into the European Union and its aftermath.
In the post Seco...
6 Pages(1500 words)Term Paper

EU Telecommunications Policy

Although the policy conducted by the European Union in telecommunications involves a broad set of political objectives, the key motive underlying the majority of reforms in the sector is the liberalization of the telecommunications industry.  The role of the state in the European telecommunications sector has traditionally been immense because of the importance of telecommunications for internal and external security. The provision of facilities that ensure communication over long distances was reasonably perceived as an unalienable function of the state: some authors used to address this function as a key element in the ‘logistics of power’ of the state (Mann 1986). Consequently, the sphere of telecommunications...
10 Pages(2500 words)Term Paper

United States Foreign Policy from 1945-1991

American Presidents presiding over some key events in history, such as the Cuban Missile Crisis, The Cold War, The Vietnam War, etc., were hindered from acting as public representatives due to pressure from the military-industrial complex. John Kennedy, Lyndon Johnson, Ronald Reagan, George Herbert Walker Bush, and George W. Bush – all of them were subject to these opposing interests. But eventually, the corporate-government nexus proved too powerful; and in this sense, American Presidents after the Second World War were largely restricted and powerless to uphold their higher personal values. Most of the strategic moves on part of the United States after the end of the Great War were directly in response to an anticipated th...
11 Pages(2750 words)Essay

Infrastructure Application and Review: France

Referring specifically to the country’s water network, Jacobson et al. (1995) notice that ‘although waterworks facilities in France are predominantly government-owned, private firms operate and manage most systems under an array of contracting and leasing arrangements’ (Jacobson et al., 1995, online article). The above study describes the general terms under which the development of infrastructure systems in France is progressing. It should be noticed at this point that in France, the government’s policies regarding the development of infrastructure systems were not always effective – moreover, they were rather limited. Indeed, in a report published by the OECD in 2005, it is noticed that ‘in 19...
9 Pages(2250 words)Case Study

Information Security Policy of Organization

In the modern age of information technology, there are many threats created for organizational information. Organizations need a security model that has the capability to handle and secure our information reserves. Technical administrative safety /security measures like security plans, actions and procedures are the general practices for the organizational information security procedures. The attentiveness of producing actions is concerned by the organizations to an appreciably smaller level, on the other hand at the same time these are weighed up as being further efficient organizational actions than technical administrative ones. Information security encompasses organizational features, officially authorized aspects, institution...
6 Pages(1500 words)Research Paper

Critical Review of Goth: Identity, Style and Subculture by Paul Hodkinson

The allure from this standpoint is seen by the author. This report measures mainly the methodology that Hodkinson uses, which is grounded theory research, and the report also examines questions of fixed vs. flexible research. The findings of the research are briefly presented before the current research investigation concludes.

The Goth subculture is founded on principles of viewing some of what society outside this subculture, or mainstream culture, views as abhorrent or negative. There is some fetish tendency in this subculture towards the macabre and death, with face-paint style makeup and mourning clothing being prominent features of belongingness, which are certainly not reflective of mainstream fashion and makeup....
6 Pages(1500 words)Book Report/Review

Comparative Review of Welfare System

In order to compare the welfare system of the three proposed countries, it is important to first develop a comparative method that would guide in comparing the three states. For the purpose of this paper, a binary comparison would be conducted. The implicit comparison would deal with Britain while the explicit comparison would explore the USA and Canada. Thereby a small N’ study would be used, that is, of three countries.
The three countries selected to share a similarity in the form that these countries are a welfare state. This is when welfare is mainly funded by the state. While the USA and Canada focus on the liberal welfare state, the welfare state of the UK is not quite defined.
The comparison of the welfare...
8 Pages(2000 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic In Depth Review of Homeowner Policy for FREE!

Contact Us