The One Definition That Decides If Your Homeowners Policy Actually Pay
Monday, September 28
Most owners size up a homeowners policy by looking at the numbers on it. Dwelling limit, liability limit, deductible. Those are the visible parts, and they're the parts everyone talks about at the kitchen table.The part that actually decides whether the policy responds at all is a definition sitt...
Named Perils Versus Open Perils, and Why It Decides Your Claim
Monday, September 21
Almost every property insurance policy comes down to one of two sentence structures. It's a short sentence, it sits right at the top of the coverage section, and I'd bet almost nobody reading this has actually read it on their own policy.Named perils reads something like this. We insure for direc...
Landlord Insurance Is Actually Three Different Contracts
Monday, September 14
Ask ten property owners what they carry on a rental and almost every single one says landlord insurance. Here's the thing. That phrase doesn't appear anywhere in the actual contract. What's actually printed in there is a form number, and it's one of three. DP 00 01, DP 00 02, or DP 00 03.DP stand...
The Five Insurance Forms Your Rental Can Be Written On
Monday, September 07
I ask every host the same two questions when we start an audit. Who's your carrier, and what's your premium. Almost everyone answers both in about four seconds flat.Then I ask what policy form they're on. Almost nobody knows.That form is the part that actually decides whether a claim gets paid. N...
Two Wildfire Insurance Gaps That Cost One Host $101,000
Monday, August 31
I had a host reach out after a wildfire tore through her mountain community last summer. Her cabin survived, technically. Partial loss, salvageable, but the deck burned, the roof and one wall took heat damage, smoke filled the whole interior. Total damage came to $284,000. Her insurance paid ou...
The Insurance Gap That Water Damage Always Finds
Monday, August 24
A housekeeper walks into a basement on a Monday morning to prep for a Thursday booking. She calls the property manager fifteen minutes later. The basement smells like mildew. Water staining runs along the bottom of the north wall. Mold has already taken hold in two corners. There's standing water...