Floods are costly. So are the flood map modernization efforts currently being concluded by the Federal Emergency Management Administration. These updates to the flood risk maps used by insurance agencies in order to calculate premiums began five years ago and were funded by Congress. They have cost about $1 billion, according to the U.S. Government … Read more
When it comes to managing home insurance payments, consumers have a variety of tactics they can use to try to save money while maintaining this crucial investment. With nearly 10 percent of the workforce still unemployed and millions of other people concerned about their long-term job stability, saving money on insurance is as high a … Read more
Jill Overmyer In the event of a burglary or disaster that destroys some or all of your personal belongings, an inventory checklist of your home can be invaluable when you file a homeowner’s insurance claim. A home inventory lists your belongings and valuables, their features and their value. According to the Insurance Information Institute, a few benefits … Read more
By Jill Overmyer What is a home warranty? A home warranty is a service contract that homeowners may buy to cover breakdowns of home appliances. The warranty company retains approved contractors and covers the repair or replacement costs associated with specified systems in the home for a period of time. Along with the cost of … Read more
Crawford Frazer The point of health, home, life or auto insurance is to protect you against a sudden disaster. If your home is damaged by a wind storm, your possessions are stolen or you cause a car accident, you want to be sure you won’t have to pay thousands of dollars out of your own … Read more
Crawford Frazer Fire. Theft. Lightning. Smoke. Any of these can quickly and thoroughly destroy all of the possessions inside your rental home. Renter’s insurance can reimburse you for thousands of dollars in damages — and, as the Insurance Information Institute notes, your costs for a policy can be less than $200 a year. Yet, according … Read more
Marcus Pickett Whether your home is an ornate Victorian or a lovingly restored farmhouse, if it’s a piece of history, it has special homeowner’s insurance needs. For some owners, the biggest priority is to protect the historical significance and one-of-a-kind qualities of the building and its environs. In this case, the owner should buy an insurance policy … Read more
Mary Lou Jay Elderly people who sell their homes and move to assisted living centers may not realize that they’re losing an important insurance protection — personal liability insurance. Liability insurance protects policyholders from financial losses when someone on their property is hurt or has personal property damaged. Policies usually cover medical expenses and costs … Read more
Marcus Pickett Imagine a tornado levels the home that’s been in your family for generations. You have home insurance for situations like these, and you decide to rebuild. But laws have changed since your old home was first constructed. To rebuild, you’ll have to comply with a slew of updated building codes and regulations. These upgrades can … Read more
Mary Lou Jay Homeowners whose dwellings include fire sprinkler systems usually get a break on home insurance — somewhere between 5 percent and 15 percent, according to the National Association of Home Builders. But are these residential sprinkler systems really worth the additional cost to consumers? A legislative battle is under way in Pennsylvania over a new … Read more