Please ensure that you have answered each question and each part of the question. If you have any questions, please ask your lecturer. Topic: Insurance Steve has taken an insurance policy to cover his...

Answer 1.
In the USA no one can buy a house without homeowner’s insurance policy. It's the
homeowner’s insurance policy which provides financial security and is a part of the
property and casualty insurance. In the above case as per the law Steve can claim
from the insurer even though he had unknowingly misrepresented the fact that the
house was made of concrete blocks but actually it was made from straw bale in
concrete. As per the USA laws once the policy is issued the insurance company is
liable to pay the insurer even in case of a misrepresentation or incomplete
documentation. In the case study the insurer needs to come and inspect the property
first and send his report to the central office of the insurance company who then takes
a call on the claim. There is a possibility that the insurance company denies the claim
stating that the individual misrepresented the material facts such as the material from
which the house has been constructed but in order to win the case the insurer needs to
prove the fact that misrepresentation was done purposely so that the insurer need not
pay the insured. Opinion filed on April 30, 2013: 
Universal Property and Casualty
Insurance Company v. Johnson. As per the given case law above Steve is not very
well aware of the technicalities of the house and therefore as not filled in the
Structural integrity of the house. The insurer must look into the incompleteness of the
application form and make sure that the form is satisfactory and duly filled. First and
foremost to start of the process of claiming Steve needs to inform the insurance
company about the loss, make the property available for inspection and then prove the
loss and all of this has to be done in a timely manner. If Steve exceeds the time limit
provided by his insurance company in the policy to notify them of their loss then
Steve shall be denied his claim. The insurer has a right to cancel the homeowner’s
policy within 60 days of issuing the same but provided the letter for cancelation has
http:
www.haaslewis.com/pdfs/clu-050713.pdf
http:
www.haaslewis.com/pdfs/clu-050713.pdf
eached the insured and 10 days have passed on such receipt by the insured then
insurance claim can be denied. Steve can surly rely on the insurance policy to claim
for damages. As per the National Storm Damage center on can refer its case to at least
3 insurance adjusters. Incase Steve is denied the insurance claim by the first insurance
adjuster then he can take a second or a third opinion. It generally seen that if the
insurance is denied for the first time the insured generally do not fight back only 5 %
try following which 50% of those 5 % land up getting their claims. The insurance
policy in case of Steve would try and deny the claim due to misrepresentation and
incomplete information by if Steve fights for the same he can make a definite claim.
The claim amount may differ keeping in consideration that the insurance premium
amount was less as the claimant said that the house was made of concrete
icks
which are more structurally stable as compared to Straw bale in concrete. Insurance is
a matter of good faith between the insurer and insured and...