Insurance
Home Value Protection Insurance Not Worth The Cost
Home value protection insurance might not be worth the cost when property prices are the lowest they have been in decades. Several weeks ago, we were asked a question about whether someone should buy insurance on their property value that …
Condominium Insurance Requirement Set By The Board
If you live in a condominium building, you should have insurance coverage for your personal property and for the interior of your condominium. Requirements are usually set by the board of your condominium association. Q: We live in Virginia and …
Preventing House Fires
This past Summer, our friends’ beautiful 100-year old home was hit by lightning and caught on fire. The house was a total loss and it will take them two years to rebuild. While lightning strikes can set a house on …
How To Buy Earthquake Insurance
Q: Who sells earthquake insurance? I have insurance through a national insurance carrier but they no longer carry it as an extra option. Can you get earthquake insurance from a central location and still keep my current insurance carrier? A: …
Insurance Coverage For Lightning Strikes: Are You Prepared?
I learned two interesting things this past weekend. The first is that lightning can strike at any time and it can hit close to home. The second that you need to make sure your insurance policies are up to date …
Nuclear Accident Insurance Coverage, Price-Anderson Act Protection
Do you have nuclear accident insurance coverage? The Price-Anderson Act Protection is already in place for all US homeowners and renters but you still may want to educate yourself about nuclear accident coverage. Japan’s nuclear reactor crisis brings about questions about nuclear accident insurance coverage and Price-Anderson Act Protection. If there were a nuclear accident, would you be covered? Price-Anderson Act protection provides for $12 billion in reserves for damage claims caused by a nuclear incident. Nuclear accident insurance coverage is already available in the form of Price-Anderson Act Protection.
Recovery After a Fire: Hiring Preferred Insurance Contractors
In recovery after a fire home insurers recommend hiring preferred insurance contractors. Hiring preferred insurance contractors during recovery after a fire can be complicated. Some preferred insurance contractors are better than others during recovery after a fire. Check the Better Business Bureau before hiring preferred insurance contractors during recovery after a fire. Hiring preferred insurance contractors may not be the best option when recovering after a home fire.
Renter’s Insurance: Do You Need It, and What Does It Cover?
What does renter’s insurance cover and do you need it? Do you have renter’s insurance? Are you thinking about getting renter’s insurance but don’t know what it costs and what it covers? Renter’s insurance covers your liability. A landlord’s insurance does not cover a renter, so consider buying renter’s insurance. Talk with an insurance agent to better understand what renter’s insurance covers and if you need it.
Flood Insurance May Be Required By Your Mortgage Lender
Flood Insurance may be required by your lender. Check the fine print of your mortgage to find out how much flood insurance you are required to buy. Some flood areas have been redesignated and you may be required to buy more flood insurance now. Consult a real estate attorney to help you understand the fine print in your mortgage contract and to determine how much required flood insurance you have to buy.
Title Insurance Policy May Not Save You If You Bought The Wrong House
We always say that you should make sure that you obtain a title insurance policy when you purchase a home. That protection is usually quite valuable. However, if you do not use a real estate attorney and think you are buying one thing when you actually are buying another, you may be out of luck. When you are purchasing the most expensive thing in your life, you should probably hire a real estate attorney. And if you are not going to hire a real estate attorney, you should make sure you have a pretty good understanding of what you are buying before signing on the dotted line.
