Talk:Home insurance

Latest comment: 8 years ago by Cyberbot II in topic External links modified


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There are different types of policy forms used in the state of Texas: the HO-A, HO-A+, and the HO-B. Shouldn't these policy descriptions be added here? TobyzMama 22:24, 17 October 2007 (UTC)TobyzMama, Cheryl CarrollReply

Language

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"intentional injuries for guests" is an amusing way of putting it.

NPOV Question

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Is the use of "highly recommended" for some of the types of coverage indicative of a non-NPOV? Avi 15:40, 13 January 2006 (UTC)Reply

I added the "highly" reference to help the reader understand what that kind of insurance is best suited for. Not all level of HO insurance are applicable to all types of domicile. An adjective does not necessarily mean that an sentence is no longer neutral.Piko 22:18, 23 January 2006 (UTC)Reply

Underinsurance

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Perhaps the most common problem that insurers face is underinsurance, and the industry hasn't done all that great of a job at tackling it, as illustrated by survey finding 60% underinsured by an average of 17%. There was a time when I was working in this area (no longer), so I can't say I'll be that tuned in - but I have a bunch of resources from earlier research if anyone wants to pick it up and work on it:

II | (t - c) 20:39, 17 January 2016 (UTC)Reply

Lender liability for underinsurance

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Interesting subtopic. In theory, since insurers have calculators and recommend a valuation, there has been an argument that they should be at fault if there is underinsurance. But it hasn't turned out to be the case. My notes point to this publication:

  • Collateral Replacement Cost Risk: What Every Lender and Investor Needs to Know by Silvia San Nicolas. It says that in 2005, Fannie mandated the Uniform Residential Appraisal Report (URAR) and removed the Cost Approach to Value and required lender to "be able to recreate the appraisers cost approach calculations" which also notes that the "issue of collateral replacement cost is significant given that the latest industry statistics indicate that 59% of homes are underinsured by an average of 22%". Cites Gibson v. Geico (1984) 162 Cal.App.3d 441, 447 with the statement that "insurers have successfully litigated the industry wide position that they do not have liability for coverage amounts they recommend to a homeowner".
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Cheers.—cyberbot IITalk to my owner:Online 13:28, 4 July 2016 (UTC)Reply