Homeownership is about more than just a roof over your head; it’s about safeguarding the things that make your house a home. While a standard homeowner’s policy offers a solid foundation, sometimes, it simply doesn’t stretch far enough to cover everything you cherish. That’s where a home insurance floater comes into play. What Exactly is a Home Insurance Floater? Think of a floater as an extra layer of protection, designed specifically for those valuable items that exceed the limits of your primary policy. We’re talking about those easily movable treasures – the jewelry that sparkles with sentimental value, the high-end tech that keeps you connected, the artwork that tells a…
-
-
Preventative Dryer Maintenance to Reduce Fire Risks
Clothes dryers cause numerous fires every year. These fires start for various reasons. They can be due to an electrical malfunction. More commonly, they are due to poor maintenance. Your home insurance will not cover damage related to poor maintenance. It also does not cover damage related to normal wear and tear. For this reason, homeowners need to be vigilant about maintaining their dryer. When you do, you reduce the risk of a fire occurring. Know the Risks Besides fire risks, dryers can also cause risks related to carbon monoxide poisoning. If the vent on the dryer fails, this might allow these dangerous gasses to enter into the home. They…
-
Good Credits Saves Homeowners On Insurance
It’s no secret; having a good credit score has many benefits. It can help you get approved for loan and get lower interest rates, but there’s even more. News 13’s Jeff Platt shows us an unexpected way good credit can save you big money. Homeowners and homebuyers alike have a lot to worry about; making mortgage payments, keeping the house clean and the yard trimmed, and on top of that they need to buy insurance. Cheryl Gillum, direct at the Wyoming Community Development Authority said, “All of WCDA’s loans require that a homebuyer have homeowners insurance and that’s part of their house payment.” For those financing homes the cost of…
-
5 risk factors for homeowners insurance policies
Customers buy insurance to minimize their risk and make them whole should a covered loss occur. What many may not understand is that a number of factors can cause their premiums to skyrocket before a covered peril even occurs. Adjusters and claims managers handling the ensuing claims also need to be aware of these possible red flags and their impact on any settlements. An up-to-date home inventory complete with photos can be a major asset to any claim. Encourage owners to take a digital tour of every room to record furniture, electronics, antiques, works of art, family heirlooms and other irreplaceable items in the home. After a fire or major flood, it can…
-
Insureds Rarely Have Home Inventories Despite Benefits
Despite big storms and wildfires highlighting the need, home inventories are rare, say insurance industry experts. A recent Allstate Insurance survey of Atlanta homeowners found that while than more than 90 percent of homeowners are concerned about protecting their homes, only 41 percent had ever documented or valued their contents. According to Jay Straughan, Enservio’s vice president of claims, almost none of the insureds he encounters have property inventory lists. “It’s very, very rare. In fact, I’m not aware of a claim where a policyholder was able to say, ‘Here’s my pre-loss list, and I’ve checked off the items that were burned up in the fire or that were stolen.’…
-
How to Assess Your Home Insurance Policy
Home insurance plans tend to get ignored until they’re needed, and that can be a costly mistake for homeowners. “Most homes in the U.S. are underinsured, and it gets worse if you’ve renovated or upgraded your home,” says Mary Boyd, division president at ACE Private Risk Services. Home insurance will help protect your finances in the wake of a natural catastrophe, accident or unexpected event that damages or destroys your home. Being properly insured and knowing the value of the home and your possessions can provide some peace of mind during a stressful period. “People will insure for what they think their outstanding mortgage amount versus what their home costs. They…
-
3 Things Dog Owners Need to Know About Homeowners Insurance
Up to 47% of American households have a dog, and for insurance companies, these households represent a risk. In 2013, homeowners insurance policies paid out some $483 million in dog bite liability claims. Obviously, insurance companies would rather not be shelling out hundreds of millions of dollars over dog bites. But what are they doing to cut costs and how does this affect dog owners? Homeowners insurance protects homeowners from liability claims. In the case of dog owners, this means your policy could cover the costs if your furry friend harms someone. “As much as we love our pets, dogs are unpredictable and can act aggressively with seemingly no warning and…
-
Hosting a Super Bowl party? Watch out for these 3 risks
Revisiting some old Super Bowl party tips that should still apply to this year…. The clock is counting down to kick-off time for this year’s Super Bowl , and you’re in the midst of party planning. But have you added reviewing your insurance coverage to the checklist? Most people probably haven’t, even though there are some risks to be aware of — and that they can plan to avoid, says Janece White, North American underwriting and jewelry specialist for Chubb Personal Risk Services. Although White provided these tips with Super Bowl parties in mind, they apply to any party at your home, at any time of year:
-
Celebrate the Season of Light Safely
Candles, lights and decorations are an essential part of the holiday season. Unfortunately, they also increase the risk of fire and injury. Each year fires occurring during the holiday season injure nearly 3,000 individuals and cause over $900 million in damage.* To have a safe and healthy holiday season, the Insurance Information Institute (I.I.I.) recommends following these important safety tips: Christmas trees Decorations and lights Fireplaces Entertaining Children and pets Candles Give your family the priceless gift of safety this holiday season. Prepare for the New Year by getting into good safety habits and teaching family members what to do in a fire or other emergency. Print a list of…
-
The Santa Clause: Insurance Tips for St. Nick
Santa may know who is naughty and nice, but does he know how to keep his global gift giving enterprise running on all cylinders? Presents break, elves get sick and even Santa’s sleigh may get into a crash, but according to the Insurance Information Institute (I.I.I.), having the proper insurance can help pay for the unexpected and keep the holidays merry and bright. In the spirit of the holidays, the I.I.I. suggests that Santa consider insuring the following: Santa Claus Is On His Way…: Transportation (Sleigh and Reindeer) Santa’s made this trip countless times, but in case there is an accident, aviation insurance would cover damage to the sleigh. And…
