The AJC reports on a ruling that awards homeowner insurance claimants the ability to receive payment for permanent loss of value (i.e.
, damages that need to be disclosed at future closings and therefore can affect resale value), in addition to just for repairs:
"This is a big deal for homeowners," said former Insurance Commissioner John Oxendine, who supported the rule change. "It's a major sweeping case that's going to give a lot more rights to the insurance consumer. It's one of the biggest cases for consumers that's come down in years."
It works like this: A homeowner whose foundation was damaged by a storm may get money to repair the house, but the home's value could still plummet because owners have to explain its troubled past to potential buyers. . . . continue reading @ AJC