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Last Post 08/29/2010 11:20 AM by  Ray Hall
Does any state allow co-insurance on a dwelling policy ?
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Ray Hall
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08/09/2010 10:31 AM
    Do not confuse replacement coverage requirements on a Homeowners policy with co insurance. I am not aware of any state that allows a co insurance clause(for the reduction in premium as the insured  is co insurer on each loss). I THINK you will find the answer to be "not allowed on a dwelling policy on building and contents in all states.(It was this way 50 years ago).
     
    This is another question.. Give a reason given by the insurance carriers to the consumer,s for having a deductible limit on ever peril for a stated amount or a percentage of the A, B and C coverage.
     
    (This is a high pole question)(If you climb a pole like a monkey the higher you go the more ah you show)
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    Medulus
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    08/09/2010 2:55 PM
    Ray,

    So, I am missing something here because it looks like you answered the question before you asked it. I guess I've been away too long. Was something deleted here? I actually clicked on this link because, in my mere 20 years in the industry and seven completed CPCU courses, I had never heard of a "swelling policy". From your answer, I assume this should read "dwelling policy", so I'm going to go ahead and change the title of the thread. If I'm in error in doing so, please let me know and I will change it back.

    In answer to your second question, the most obvious answer is that, if the deductible is a percentage of the limits, there is a seprate limit for coverages A, B, and C (or at least on A and C). To lump the limits of A, B, and C together as with some commercial policies and then take a percentage deductible would not benefit the insured. The chances are better that one of the separate coverages will exceed the individual percentage deductible.
    Steve Ebner CPCU AIC AMIM

    "With great power comes great responsibility." (Stanley Martin Lieber, Amazing Fantasy # 15 August 1962)
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    Ray Hall
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    08/09/2010 6:24 PM
    I am finished with CADO, ggod by, when I was typing an answer to Steve, I lost the post 2 times. I will get off this site, for good.
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    RandyC
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    08/09/2010 8:41 PM
    Ray, your internet connection may have a timer set too low. If you will copy and paste your article to a word program before you post it, even if your connection  times out, you can paste your post and send it quick with no loss. None of us want to lose you or your knowledge.
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    Ray Hall
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    08/10/2010 2:17 PM
    Thanks Randy, that makes sence to me. I really was becoming kiinda feeling picked on by "someone" and it was just a time limit Thanks. I will use Word and I can edit myself BETTER.
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    olderthendirt
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    08/10/2010 4:29 PM
    Ray at our age all our timers are running slow. Nowdays it takes me all night to do what I used to do all night. Glad your staying.
    Life is like a sewer, what you get out of it depends on what you put in it
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    host
    CatAdjuster.org Founder
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    08/10/2010 5:25 PM
    The session state for most .net applications which CADO is, is 20 minutes, after 20 minutes of no activity on the web page by the user it will close the session. However, I was not aware that this was causing problems with the forums but I guess if you have a lot to write it could cause problems.
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    Ray Hall
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    08/10/2010 8:54 PM
    OK, but I will still stir things up. I don,t have to be political correct any more. I have only one regular (direct) customer and don't mind letting my Let it all hang out post keep me from getting work. Shoot I will not live for until I am really old, If I keep doing roof inspections from hurricane IK, before the 2 year statues in 107 heat index in the Houston Area. Thanks I will go to Word.
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    Ray Hall
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    08/16/2010 1:19 PM
    It seems all states allow co-insurance on dwellings that have a deductible amount on all losses. Put it another way the only way to collect the face amount of the coverage is to have a loss that is excess of the stated amount by at least 01, more than the stated deductible amount. the .01 would be tossed and the face(stated) amount paid...... therefore if the loss is not more than total to insurance the policyholder become a CO Insuror for that instant loss(any peril) not just windstorm. I think if insurance carriers to do not want to pay 100% of the ACV loss, they should give more options like.
     
    The Deductible is applicable to the following perils or better still the 5% deductible will ONLY APPLY TO WIND losses. Are the ductuctible will be112% of the amount of loss (until it disappers).
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    Ray Hall
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    08/29/2010 11:20 AM
    This is a hypo question that I ask. But each day I see water claims with a $1000 to 1% ded. and the people live from pay say to pay day. They can not come up with a !% deductible. If I get involved before the water suckers, I can make it an event that is not that stressful on the ole budget. I use the xmate water sucker prices and "allow the insured" to be the water sucker, if you know what I mean.
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