Insurance
INSURANCE POLICIES – COVENANT OF GOOD FAITH AND FAIR DEALING
In Texas, insurance companies are afforded protection to treat consumers fairly. This is called an Implied Covenant of Good Faith and Fair Dealing. It has been established by both judge-made and statutory law. The basis of this doctrine is that you pay a premium for coverage, and the carrier must deliver on promised benefits. Insurance…
Read MoreLIABILITY INSURANCE – WHAT IS IT
Texas requires that you have liability insurance on your car with a minimum coverage of $30,000. What is this? You are in an accident and the police find you are at fault (for example: running a red light, rear-ending someone), and someone gets hurt. You can bet your bottom dollar the injured person will file…
Read MoreWHAT’S IN YOUR HOME WARRANTY INSURANCE POLICY?
Home Warranty Insurance Contracts (HWI) are all the rage. Generally, they state if a covered appliance or system breaks down, they will pay for the repair. Do not be lulled into a false sense of security. The contract will list what is covered, but more importantly, what is not covered. Typically, ¾ of the text…
Read MoreHomeowners Insurance: Think You are Covered? Think Again
Homeowners insurance policies are long, typically 30 or more pages, most of which deal with what’s NOT covered. Surprise! Before you get to comfortable thinking that you are ‘protected’ by your homeowner’s insurance lets go over the content of that stack of papers. A typical residential homeowners policy consists of three major parts: Declaration Sheet:…
Read MoreBUYING OR SELLING A HOME: HOME INSPECTIONS
In buying or selling a home, a home inspection is essential. For the seller, an inspection is important, to prevent any unexpected surprises from the buyer’s inspection that may require a renegotiation of the sale price. For the buyer, an inspection will reveal hidden defects. Even though seller may have lived in the house for…
Read MoreHOMEOWNERS ASSOCIATION ASSESSMENTS AND SPECIAL ASSESSMENTS
When considering a purchase of a home, townhome, or condominium that is part of a homeowners association (HOA), always consider the costs of the homeowners association annual and special assessments BEFORE you make an offer to buy. These can run into hundreds or even thousands of dollars a month, sometimes as high as the rent…
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NEW CAR DEFECTS?
THE TEXAS LEMON LAW
Approximately 1% of the new cars sold in the United States have warranty problems that are so severe, that even after repeated attempts they cannot be repaired. For these types of problems, the lemon laws in each of the states may offer some relief. This article will discuss the Texas Lemon Law. The Texas Lemon…
Read MoreGETTING YOUR CAR REPAIRED AFTER AN AUTO ACCIDENT
DIMINISHED VALUE CLAIM This article will discuss getting your car repaired after an accident where the other party is at fault. If the other party is at fault you are entitled to recover all of your damages. This includes recovery for the damages to your car (“property damages”), and if you were injured, damages due…
Read MoreCAR INSURANCE
UNINSURED / UNDER-INSURANCE MOTORISTS COVERAGE If you have an accident caused by a driver without insurance, it is likely, you will not be able to recover the damages to your car; your medical bills, or lost wages. What can you do? According to the Texas Department of Transportation there where over 250,000 persons injured in…
Read MoreWHAT IS A HOMEOWNERS ASSOCIATION?
Many single-family home communities and most townhome communities are regulated and controlled by Homeowners Associations (HOA), also known as Property Owners Associations. Whether you rent or own, if you live in a neighborhood that is subject to an HOA, you are bound by its terms and conditions. Most HOA’s were established by the real estate…
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