Do you have to pay taxes on a settlement? Like most things related to taxes, the answer isn’t easy. You may have to pay taxes on certain types of settlements, while others are tax-exempt. The IRS generally considers settlements taxable. […]
Tag: Avoid
What is force-placed insurance, and how can you avoid it?
What is force-placed insurance? Force-placed insurance is a policy purchased by a lender to protect its investment in your home if you fail to obtain the required coverage. Lenders require insurance as part of the mortgage contract. Typically, the lender […]
How to Avoid Bad Faith Setups
Insurance companies are in the business of providing important financial and logistical assistance when customers experience some kind of event or incident covered by a policy. Those things—often unexpected, and almost always unwanted—can also happen to insurance companies, so they […]
Don’t Like the Appraisal Award? Here’s Why That’s Not Enough to Avoid Its Finality
The recent decision in Briarwood Office Center II Condominium Association v. West Bend Mutual Insurance Company 1 highlights a critical lesson for anyone involved in the insurance appraisal process about the finality of an appraisal award. Allegations alone are not enough to […]