The Expert Podcast

This is not the first time and it won't be the last time we're going to hear about this. More and more homeowners are finding that they do not have insurance coverage. Their insurance carriers or insurance providers are dropping coverage. Doesn't matter where you live. Doesn't have to be in a hurricane state like Florida or South Carolina. It doesn't have to be in California with wildfires. There are now insurance companies dropping policies all over the country. In the Midwest because of hail and tornadoes in um parts of the country that have fires, earthquakes in the Pacific Northwest, there are insurance companies that are dropping coverage left and right.

So, what do you do? Well, the article here says homeowners are scrambling. You have a few options, and you can get more information at the link below. One of the options is to adjust your coverages so it fits in what's called the appetite of an insurance company. Every insurance company has certain appetites they're willing to take on and you can fit that.

You can also look at what's called parametric insurance and this is a type of insurance that's trigger-based that doesn't have to do with any kind of amount of damage amount of you will be back in your video in just a few seconds. In the meantime, remember that actualhum.com offers you live one-on-one private video consultation with an expert in this exact subject. We want to listen to your story. We want to hear your questions. We want to give you expert advisement of your options and tell you what we know about your particular situation. Now, back to your video.

Underwriting. It has to do with strictly with a a trigger event that just pays you a flat fee. And you can find out more about parametric insurance also from our website. It's a way that people who are having difficult time finding other types of insurance can at least get some coverage for your house, some coverage for a catastrophic disaster. Maybe you're going bare, not having any insurance. Parametric at least will give you something that will offset losses.

The other thing you want to do is look at your deductibles. Sometimes if you go with a higher deductible, the insurance company will take on the risk because you're more invested in it. But if you do that, it's more important to have a parametric policy.

In addition, there's ENS or excess and surplus lines. Surplus lines insurance are policies that aren't standard coverages for typical homeowners. They're written exclusively specifically for unusual type coverages. And many carriers have ENS uh policies available when a standard admitted carrier doesn't. So that you have options. Don't panic just because your particular agent is not aware of it. Many agents are are uh captive uh retailers that deal only with one company. An independent or somebody that has other access to markets might be able to help.

Thank you for watching another episode of Actual Human Advisory on Describe TV. Remember, we have live one-on-one consultation appointments available at actualhum.com where you can book a one-on-one undivided attention live call with a licensed investigator, a licensed insurance broker, a licensed mortgage broker, real estate broker. Uh I'm also a certified real estate title examiner, a certified civil court mediator. along with having developed and started over 15 businesses, several of which were sold for millions of dollars. So, if you do have questions in any of those categories, you can arrange a one-on-one live video consultation. Use the link below and we'll see you on the next