Insurance lawyers may know the difference between the two above types of policies but most people do not know the difference. Property insurance may be issued on either: An “all risk” basis, meaning that all risks of physical loss are covered except for excluded perils. The 1998, San Antonio Court…
People will speak of “sticker shock” in reference to buying automobiles. The term is also used when seeing hospital bills. But the biggest shocker of all can be the bill for an air ambulance. The Claims Journal published an article in February of 2018. The article is titled, Appellate Court…
Attorneys handling auto insurance problems will see situations where a person has their insurance raised after a claim. This is sometimes done in violation of Texas laws. The Washington Post published an article in February 2018, that deals with auto insurance rates. It is titled, Auto Insurance Rates Have Skyrocketed…
An “insurable interest” exists when the insured derives a pecuniary benefit or advantage by the preservation and continued existence of the property or would sustain a pecuniary loss from its destruction, according to the 1993, Dallas Court of Appeals opinion, Jones v. Texas Pacific Indemnity Co. In the 1986, Tyler…
Insurance lawyers will tell you that a person must have an insurable interest in the insured property to recover under an insurance policy. This is also stated in the 1993, Dallas Court of Appeals opinion, Jones v. Texas Pacific Indemnity Co. The purpose of the requirement of an insurable interest…
Commercial property insurance includes all forms of insurance covering property loss exposures of both business and non-profit organizations. The most common commercial property coverages are provided under standard forms developed by Insurance Services Office, Inc. (ISO) or the American Association of Insurance Services (AAIS). In many instances, an organization’s property…
One of the primary duties of an insured under his insurance policy is to cooperate with the insurer’s investigation of a claim. As an example – The Texas Auto Policy provides: A person seeking coverage must (1) cooperate with us in the investigation, settlement, or defense of any claim or…
Here is some general property insurance information and personal property insurance information. Property insurance involves the indemnification of the insured by the insurer for the oss of, or damage to, identifiable property described either specifically or by general language in the policy. That is what was stated in the 1973,…
The wrongs committed by insurance companies would surprise most people. A person pays his premiums and maybe has friendly conversation with their agent and they figure that when they make a claim, the claim will be properly paid. While most insurance claims are handled without the need for lawyers to…
All parts of an insurance policy are important. An insured needs to understand what is contained in any policy he has. Texas laws assumes a person has read and understands the contents of his insurance policy. The insuring clause of a policy in the insurance company’s agreement to provide coverage…