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According to a recent article in The Insurance Journal, a major insurance company announced plans to drop their North Carolina homeowers insurance clients who didn’t bundle, or combine, their automobile insurance policy with the same company. As many as 45,000 homeowners insurance customers were due to be non-renewed unless they bundled insurance coverages for their home and automobile insurance from this carrier by December 15, 2011.
The most important part of purchasing homeowners insurance is not the price of the policy, it’s the replacement / reconstruction cost estimate. This becomes your policys Coverage A or Dwelling Coverage amount. Without the proper Dwelling Coverage, you put yourself in the position of having to self-fund part of the reconstruction cost of a damaged home at 140% on the dollar. Why 140%?… Continue reading
And the sad part? These two should-have-never-been-able-to-conceive excuses for parents would demand their insurance company provide the best care for their infant. As the child grew, they would demand the public school system provide the best possible education for their child. They would probably also demand their state and local legislators change existing estate planning laws re: Special Needs Children just so their child would benefit from greater access to lifelong services and funding.