It’s an interesting question isn’t it?! Some may think it’s gender based and guess men pay more than women. Others may think it’s location based and guess people in big cities pay more than people in rural communities. While both of guesses are correct, they’re not the right answer. Teen drivers, or their parents, pay more for car insurance than any other group.
The Dallas Fire Department arrived at a home in east Dallas about 10 days ago. The home was on fire, yet they were able to put the fire out within 30 minutes. The good news is no one was hurt as the family wasn’t home when it started. It turns out the fire started in the attic. Some overloaded older wiring shorted, sparked and started the fire. What overloaded the wiring raises an interesting question about whether or not the home insurance will cover this fire claim.
The internet of things and connected cars made a splash in Dallas area media last week. Of course, it doesn’t hurt that AT&T is headquartered here! Connected cars are here and they are growing rapidly, even without a “killer app.” While AT&T has over 100 million customers using wireless, video, broadband, and even land lines services, the big growth potential appears to be connected cars.
Most people don’t think about insurance fraud, yet it does exists and is a problem for insurance companies, as well as you and me. Last week, I introduced this topic by looking at car insurance fraud (see https://wiseinsurancegroup.com/car-insurance-fraud/) using two examples that were in the news. Here, I continue the theme by examining it by looking at fraudulent home insurance claims.
Have you ever heard of Andy House or Ted Lilly? You may have heard of Ted Lilly if you follow baseball closely but most people may not recognize Andy House’s name. Here’s a clue, they have something in common, and it’s not sports, the schools they attended, or where they were born. Still not sure? The answer is they both committed insurance fraud with their vehicles.
Last Sunday, the Dallas Morning News published an article about Kristen and Wade Lair. The article related the issues the Lair’s have faced working with city hall on a home they bought to rehab in east Dallas. Their story outlines some of the issues homeowners face when buying a home in a historic district. It also provides an excellent backdrop on home insurance for homes in historic districts.
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