For many years now, insurance companies have argued in court \”surface water\” is not a covered peril. How will the insurance company define \”surface water\”? Why, after all these years of \”surface water\” claims denials in homeowners policies, why do you think an insurance company would now offer the coverage? Anybody?
Taking a chance with risk evenly spread out in all 50 states is just not the same thing writing only 20% of the states for an event that is sure to produce high dollar claims.
…but they won\’t offer wind 60 miles from the coast…
Isn\’t wind already a covered peril?
For many years now, insurance companies have argued in court \”surface water\” is not a covered peril. How will the insurance company define \”surface water\”? Why, after all these years of \”surface water\” claims denials in homeowners policies, why do you think an insurance company would now offer the coverage? Anybody?
Um, because they\’ve figured out how to write it profitably? Because they now know how much money to collect to pay for claims? Just a thought…
Taking a chance with risk evenly spread out in all 50 states is just not the same thing writing only 20% of the states for an event that is sure to produce high dollar claims.
Ins Agt,
I\’ll bet that during the 60\’s, you saw a commie hiding under every bed, too.