Archive for 'For Your Home'

When You Can’t Come Home: What Does “Loss of Use” Coverage Actually Cover?

Posted by: vpenson

Your homeowner’s insurance policy will pay to repair
damage to your home caused by a fire, windstorm or other covered cause of loss.
But when you and your family incur expenses for moving out while repairs are
made, who picks up the tab?

An often-overlooked but essential function of your
homeowner’s policy is “additional living expenses” (also called “loss of use”
or “Part D”) coverage. Additional living expenses coverage will pay the
necessary increase in living expenses required to maintain your ...

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Condos: Easy Living, Tough Insurance

Posted by: vpenson

Do you own a condominium? To you, condo ownership may
represent a feasible way to home ownership. Or maybe it represents a second
residence in some exotic location you like to visit. Or maybe it’s an
investment to generate rental income. Regardless of why you own, understand
that insuring a condo is much different than insuring a traditional home.

Statutes and Paperwork

A thorough review of your master deed (often called declarations
or “docs”) is necessary to adequately insure your condo. Unfortunately, ...

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Earthquakes: Is that covered on my policy?

Posted by: vpenson

5,000. That’s the number of earthquakes felt in the United States each year. Popular belief may consider California to be the state at most risk of an
earthquake, but since 1900, earthquakes have caused damage in all 50 states, according to the Insurance Information Institute.

In fact, Oklahoma was struck by at least 10 minor earthquakes in a two-day period in late August 2009. These were strong enough to be felt throughout the central part of the state.

While Alaska experiences more ...

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Insurance: Your 3 Biggest Questions Answered

Posted by: vpenson

Insurance comes in a wide array of choices for a variety of consumer and business needs. Even the best-educated consumer who spends time researching insurance issues will come across a topic he or she doesn’t understand.

Let’s take a look at what consumers say when asked: “What’s one thing you don’t understand about insurance?” Here are three common questions that Trusted Choice® insurance agents and brokers hear:

Q: Why do I need insurance?

Insurance is for the uncertainties of life. Accidents and catastrophes ...

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Manage the “Four C’s” of Winter Fire Risks: Chimneys, Candles, Christmas Trees and Children

Posted by: vpenson

Thanksgiving, Christmas, and New Year’s Eve—these
holidays mean celebrations, many of them in decorated homes filled with
merry-making family members and friends.

Insurance professionals know that the winter
holidays bring greater-than-usual risks of fire in homes.  The National Fire Protection Association
reports that, over the course of a calendar year, the 10 worst days for
fires in homes fall between December 24 and January 6.

Fortunately, these risks can be reduced with
safe practices that address the “four Cs” of winter fires: ...

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Is Your Home Fully Insured?

Posted by: vpenson

If you’re like most Americans, your home is your largest
investment, so you know how important it is to protect it. You probably take
safety precautions and have insurance that will cover you in case of a loss.

But are you fully
protected? Chances are, no. You probably are running the risk of having to pay
money out of pocket to rebuild your home after a loss, to replace stolen items
or to settle a liability lawsuit.

Consider the following questions to ...

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Stay Cool with Swimming Pool Risks

Posted by: vpenson

It’s summer, and thoughts of Americans everywhere turn to water. Whether it’s in the pool, on
the lake, at the ocean or in the river, water draws people almost magnetically
as the weather turns hot. In fact, swimming pool trade groups teamed up to make
May “National Water Safety Month” in the United States to make consumers “water
aware.”

Swimming pools are popular but also present a risk to a homeowner. While homeowners are welcoming
friends and family with a clear, ...

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Safety Makes Your Summer Party Memorable—In the Right Way

Posted by: vpenson

The entertainment value in a summertime get-together can be in the camaraderie and storytelling. But don’t let your next backyard barbecue
turn into a tale of woe, to be retold years from now.

One party hostess recalled a disastrous event that involved hot oil, alcohol, a paper tablecloth and fireworks:

“The oil to fry the turkey was too hot and too full (yes, we fry our turkeys in Texas). Maybe it had to do with the over-served [read: one too many alcoholic ...

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Feathering the Nest? Update Your Insurance

Posted by: vpenson

Consumers spend billions on their homes. Home improvement
projects tallied to a whopping $280 billion in 2005, according to research from
the Joint Center for Housing Studies at Harvard University. The center forecasts
that home renovations will grow at a steady 3.7% rate annually through 2015,
after inflation.

What shouldn’t be lost in the excitement of adding a
bedroom, finishing a basement or updating the kitchen is your financial
security. The risk management and insurance tools available through your
Trusted Choice® ...

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Flood Insurance: What It’s All About

Posted by: vpenson

Just seven years ago, Hurricane Katrina pounded the Gulf coast of the United States, wiping out
more than 250,000 homes.

That massive storm painfully brought to public awareness the fact that flood damage is not covered
by homeowners insurance.

Many consumers were unaware that, even though their homes were ruined in the hurricane, they were
not insured since they lacked flood insurance. Insurance against flooding
(rising water) is different from insurance against driven rain or leakage,
which often are covered. Since that time, ...

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