If you have upgrades to your house that needs to be disclosed and paid for in your premium. Question any coverage you don’t agree with before finalizing the policy. The burden is on you.
The bottom line is you will not know how good your coverage is until you file a substantial claim. Small claims will increase your premiums and/or get your coverage non renewed.
As far as insolvency, this should cover it.
The Florida Insurance Guaranty Association establishes and maintains a service-oriented operation for processing covered claims of insolvent members. FIGA is a nonprofit corporation created by the Florida Legislature in 1970. FIGA services pending claims by or against Florida policyholders of member insurance companies which become insolvent and are ordered liquidated.
FIGA’s membership is composed of all Florida licensed direct writers of property or casualty insurance. Property and casualty insurers with a certificate of authority issued by the Florida Office of Insurance Regulation (OIR) are members of FIGA. In the event of insolvency, member company claims for covered lines of business are eligible for FIGA coverage.
Last edited by Babubhat; 12-06-2024 at 09:49 PM.
|