Did you know that according to the Indiana Department of Insurance (IDI), the insurance industry is one of Indiana's largest employers. That being said, that means there are many insurance options for homeowners in Indiana. Because the insurance industry is so large, there must be tough regulation to ensure the protection of the consumer.
Here are some facts Indiana homeowners should be aware of when securing homeowners insurance:
If your homeowners policy is being cancelled for non payment of premium, the notice of cancellation must be in writing and sent to you at least 10 days before policy cancellation.
If your insurance company does not want to renew your policy, IDI requires the notice be sent to you at least 20 days before policy expiration. As a consumer, negotiate with your insurance company to extend the 20 days to 30 or 60 day notice. If your policy is being cancelled for a reason other than non payment, you'll need the extra time to shop around for replacement coverage.
If your policy does not cover flood damage, it must be stated prominently on the policy jacket or, you must be given written notice that flood coverage may be available through the National Flood Insurance Program.
In certain Indiana counties in southwestern Indiana along the Illinois Coal Basin, the insurance company must inform you of the availability of mine subsidence coverage (coverage for homes built over mines that may collapse or slowly settle) when they issue the policy.
IDI also regulates how much an insurance company can charge you for an inadvertent bad check. Their charge may not exceed $20 (this is in addition to the charge issued by the banking institution).
Please see our list of references below to find the lowest rate insurance quotes on the web. Along with low rate quotes this is a good source of insurance information.
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Davidson Calfee is the Owner and President of Operations, overseeing overall portfolio management, agency relations and new business generation. He has a natural ability to manage complex situations and achieve outstanding results for his clients.
Calfee is constantly looking for ways to improve professionally and has worked diligently to revamp his team’s handling of the needs and expectations of his clients.
Calfee specializes in developing, designing and implementing complex property catastrophe insurance programs for his clients. His market knowledge and client service skills have made Calfee a sought-after property resource for Massachusetts coastal residents.
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