VU Resources

Whether agents should be reviewing any kind of contracts for insureds is an issue without an absolute solution. It depends on many factors, from the type of contract to the…

Many homeowners are just now being assessed by their homeowner or condo associations for losses that occurred in 2005 due to master policy exclusions, deductibles, or inadequate limits. Some insurers…

Most likely, many of you have insureds who own a vacation home or condo that is rented out much of the time. Most of you have insureds who might buy…

The VU “Ask an Expert” service has been made aware of a number of requests from the lenders of condo unit owners who want to be named as mortgagees on…

Vacant land presents two problems. First, most people find it hard to believe that they could be sued because they own a piece of vacant land. Second, the characteristics that…

The definition of “insured location” in the HO policy includes any premises “used in connection with” the residence premises. Exactly what does that mean?

Can a condo association assessment for a deductible be paid by the HO policy without the entire association being assessed? An agent reports that one company will not pay unless…

It’s very unlikely that many purchasers of a townhome or a stand-alone home in an association ever consider the insurance implications of such purchases. Only when it’s time for the…

After a fire damaged an insured’s home, the HO adjuster offered to pay only part of the repair bill, stating that he was taking depreciation off the total. The agent…

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…