A Type of Homeowner 3 – Special Form for the American Association of Insurance Services, Inc. (AAIS) – HO 00 03 01 06 is included as the basis for this analysis. Samples are available here. The following is an analysis of the important parts of the basic homeowner's insurance. Unlike the standard fire insurance policy, homeowners 3 are written in "easy-to-read" language rather than exact legal wording. The following analysis is presented to help the insured to read the insurance but is not a substitute for actually reading the entire wording of the insurance with regard to facts about the loss that the insurance may apply to.
See the full video at https://youtu.be/F3CkR-98xWk  The Insurance Contract
This insurance, subject to all its "terms and conditions", provides the described insurance coverage during the insurance period. In return, you must pay the required premium. Each of the principal coverages described in this policy applies only if a "limit" appears on the "declarations" for that cover. . Regardless of the coverage provided by the basic wording unless stated on the declaration page, there is no coverage for that risk.
© 2020 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his practice to employment as an insurance consultant specializing in insurance coverage, insurance claims handling, infidelity and insurance fraud almost equally for insurers and policyholders. He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims lawyer and more than 52 years in the insurance industry. He is available at http://www.zalma.com and firstname.lastname@example.org.
Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
For the past 52 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurers and their claims staff to become insurance claims staff.
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