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Category : Property

When spring arrives each year, many homeowners are reminded that flood damage is not covered under a homeowners policy. However, water damage is covered under a homeowners insurance policy. It is important to understand the difference between water damage and flooding. Water damage is defined as damage that comes downward from the top. Although this is not completely accurate in all situations, it is a good rule to remember. If the water is above ground level, the incident is probably covered. However, there is an exception. If damage is caused by a pipe that is letting water drip slowly into the home, it is not covered.

It is important for homeowners to take the right steps to prevent mold and mildew growing in the home. If there is already mold growing, it is important to remove it immediately. Moisture in the basement, attic, kitchen or bathroom creates an ideal place for mold to grow and spread. If mildew is left untreated, it can ruin furniture, fabric and walls. It can also trigger allergic reactions and other physical illnesses in family members. Battling mold growth is an ongoing challenge, but there are a few helpful steps homeowners can take to keep their living spaces free of this annoying fungus.

Many factors contribute to the longer average life spans of today’s world, and car safety is one of the major factors. With new advances in safety features, less people die in accidents today than they did several decades ago. Cars that drive automatically may seem futuristic, but so did many of today’s features several decades ago. Car safety technology is advancing rapidly.

Hurricanes are destructive and potentially deadly storms that can cause a tremendous amount of property damage and, occasionally, people’s lives. Longtime residents of coastal Florida, the Carolinas, Texas, Mississippi,Alabama and Louisiana are familiar with the drill – but there are always new people and always procrastinators every year. Hurricane preparedness takes time! Don’t leave it to the last minute.

Repairing versus improving a rental property considerations go beyond initial cost considerations; it also can reduce or increase your tax burden. The Internal Revenue Service (IRS) offers guidelines to determine whether work done to real estate rental property is considered a repair or an improvement.

When it’s hurricane season in the Gulf states and Hawaii, it’s also wildfire season throughout the west. Earthquakes are always in season, and flooding never goes out of style. Are you ready for the next disaster, whether natural or man-made? A few inexpensive preparations you can do in just a few hours can pay big dividends when disaster strikes.

Big changes are coming to the auto insurance industry. These changes will result in enhanced pricing sophistication, increased profitability, better control of claim costs and differentiation between policyholder services and products. In addition to these changes, the outcome will result in a much better ability to improve the behavior of drivers. That will lead to a great reduction in the frequency and severity of accidents for policyholders.

More than 30 percent of homeowners insurance claims result from dog bites. In 2011, insurers paid out more than $450 million for dog bite claims. Research shows that the average payout for a dog bite claim was about $29,000 in 2011. That number reflects more than a 12 percent increase since 2010. Between the years of 2003 and 2011, the average cost of a dog bite claim increased by more than 50 percent. This increase was due to rising medical costs and larger settlement award policies. However, awards have risen far above the normal rate of inflation. This information should have every homeowner who owns a dog concerned.

Inattention, driving under the influence of alcohol and excessive speeding are all reckless behaviors that have bad outcomes. Such drivers ultimately cause accidents, which may end the lives of innocent people. In addition to the expenses and punishments stemming from legal trouble, reckless drivers also experience higher auto insurance rates. Before this happens, their licenses may be suspended for a period of time. To have a license reinstated, a driver must usually take classes and pay a fee. Auto insurance following such a reinstatement is much more expensive than traditional rates.