Virtual University

Our “Ask an Expert” service got a question this week from an agent who represents an insurer who has begun using a Functional Replacement Cost Loss Settlement endorsement on older…

A critical element in the principle of indemnity is that an insured can only collect for a loss in an amount equal to his or her insurable interest in the…

According to the experts, a majority of homes are undervalued by at least 25% on average. Magazines and newspapers are replete with articles about insureds who suffered major losses only…

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We had an insured call to advise that he was going on vacation and renting a car in his name. He has a 19 year old that he understands cannot…

Several years ago, I wrote an article called “”The Top 10 Reasons to Purchase the Rental Car Company’s CDW/LDW.” This article and a downloadable consumer version you can share with…

Although most damage waiver fees are considered outrageous, the insured is best advised to purchase the waiver for short-term rentals. This is not only in the best interest of the insured, but also the…

An insured wanted to buy a flood policy even though it was not required by the lender. The WYO underwriter said that since the policy was not required by the…

In many states, what is covered under an HO-6 and a condo association master policy is governed by state law. That may not be the case when there is a…