People who live in coastal states need to consider their hurricane deductibles, which may be found on a homeowners insurance policy. This type of deductible determines how much policyholders must pay upfront before the insurer picks up the rest of the tab. Hurricane deductibles are listed in clear wording on a homeowners policy.
In the upcoming year, home improvement activity is expected to rise. For those who plan to be a part of this rising number, it is important to have the right type of insurance and the right amount of coverage. Insurance should be in place during and after construction. Anyone considering a remodeling project should contact an agent before the process begins. Many people must alter their coverage or add more. Waiting until the project starts or is finished can be an expensive mistake, so take the following four important steps to avoid an expensive problem.
When you take out a mortgage, part of the agreement is that you will purchase adequate homeowners insurance coverage. Adequate coverage usually means that you are insured for the replacement of your home to 100% of replacement value or that your home has enough coverage to address the amount of the loan. While the latter may mean that the mortgage company wants enough coverage to pay the outstanding loan balance, most homeowners policies do not cover the loan amount, just the rebuilding of a home. In a nutshell, the mortgage company wants to make sure that they are protected if your home suffers an insurable loss such as fire or water damage. If you are in a flood zone, they will require you to get separate flood insurance, as regular homeowners policies exclude damage caused by flood and ground water.
With the average vehicle on the road being about 10 years old, it is apparent that Americans are keeping their cars longer these days. There are benefits associated with owning an older automobile. Drivers with older cars do not have to worry about making loan payments, and insurance costs are much lower. However, there are also disadvantages. Unexpected expensive repairs can drain a savings account. In some cases, the repairs may cost more than what the car is valued at. There are several Web sites with helpful resources for evaluating repair estimates.
They may not make engines the way they used to – but they’re making cars safer and more crash-proof per pound than ever before. Innovations in materials, GPS technology and microchips have made a wide variety of potentially life-saving technologies cost-effective and affordable for the car buyer.
Carfax is a commercial service offering vehicle history reports to businesses and consumers. The company serves both the United States and Canada. Carfax was founded in Missouri in 1984, and the company is now headquartered in Virginia. One of the original purposes of the company was combating odometer fraud. The latter part of the company’s name came from their signature reports, which were sent quickly via fax machines. However, the most popular way to obtain reports today is over the Internet. To this day, Carfax is still a trusted name among consumers and used auto dealers.
The Insurance Information Institute released a free mobile disaster preparedness app that provides safety tips, communication tools and checklists for common disasters. This helps people prepare for severe winter weather, wildfires, earthquakes, hurricanes and other types of disasters.
A free new mobile app released by NAIC lets people protect their property and their identities after experiencing a traffic accident. Research shows that very few people know what steps to take after an accident. In addition to this, the majority of the population does not know what information to share and what information to avoid sharing following a collision. By giving too much personal information to another party, people may put their identities at risk.
When warm weather arrives, so do crooked contractors wanting to steal from homeowners. They provide bogus repairs that are not even necessary. In some cases, no work at all is done. These dishonest contractors love the warmer months when hurricanes, tornadoes, hail and severe storms are more common. After such disasters pass, they are happy to swoop in on unsuspecting homeowners who are desperate for quick repairs.
While every couple hopes their wedding day will be perfect, there are many cases each year where disasters happen. Unfortunately, most disasters become what they are because couples do not have wedding insurance. This type of coverage protects couples financially and covers their wedding arrangements against various mishaps and bad weather. Wedding insurance is affordable enough to fit into almost any couple’s budget. With policy price tags starting around $125, couples planning expensive weddings cannot afford to go without coverage. Even if couples do not have to make claims against their policies, the investment is worth the peace of mind at such a hectic time.