Consumer advocates say you should hire repair and remodeling contractors who are “licensed, bonded and insured.” What do those terms mean? And why are they important to you as a homeowner? Triple protection These three provisions protect both the consumer and the contractor. State law often requires licensing. Electricians and plumbers, for example, are required… Read more »
Insurance provides financial protection against the possibility of loss. Over your lifetime, your obligations shift, and the types of losses you could suffer change. That’s why it’s crucial to make sure your insurance continues to meet your needs. Here’s our guide to your changing insurance needs. Life insurance Life insurance protects a surviving spouse, family… Read more »
Several types of insurance can come into play if you own a home. One of them is mortgage protection insurance. What does this insurance cover? Should you buy it? Here’s what you need to know. Paying off the mortgage The purpose of mortgage protection insurance (MPI) is to pay off the homeowner’s mortgage should he… Read more »
We welcome clean fresh water in our kitchens and bathrooms, but sometimes water arrives uninvited and causes damage. Will your homeowners insurance pay for damage from unwanted water in your home? Like many things in life, the answer is: It depends. What insurance covers In general, homeowners insurance covers water damage that is “sudden and… Read more »
To paraphrase an ancient riddle, if a tree falls on your house or car, it definitely makes a sound. But whose insurance pays for the damage? When your neighbor’s tree falls If your neighbor’s tree falls on your house, your homeowner’s insurance policy should cover the damage just as if it were your tree, subject… Read more »
When figuring how much house they can afford, homebuyers with little or no experience may focus solely on the principal and interest portion of their monthly payment. But house payments also include the cost of homeowners insurance. It’s important to research the cost of insuring your home early in the process to avoid unpleasant surprises… Read more »
If you’ve rented a car, you’re no doubt familiar with the “loss damage waiver” car rental companies offer to relieve you of liability for damage to the vehicle in an accident. Rental truck companies also offer such coverage when you rent their vehicles for a move or to carry cargo. Insurance coverage is also available… Read more »
In the aftermath of a storm, it’s important for homeowners to have a game plan. Here’s a step-by-step guide to insurance and FEMA claims that will save you time, money and aggravation. Before the storm The first step to handling weather damage should occur long before the first wind blows. While life is normal, take… Read more »
If your home is significantly damaged by a storm, you will likely feel overwhelmed and confused just when you are faced with making several major repair decisions. Take a deep breath and let us walk you through the mess. Judge your home’s livability. Can you live in the home while it is being repaired? Is… Read more »
Homeowners insurance policies can be difficult to read, but the information is crucial to your financial well-being, especially when tragedy strikes and you’re forced to make a claim. Note: The coverages described here will vary from state to state and company to company, so be sure to research your policy diligently. What is covered. First… Read more »
You never want to skimp on homeowners insurance, but there are ways to save money on those premiums without putting you or your home at risk. Here’s a handy guide to getting excellent coverage at a reasonable price. Your credit score. In most states insurance companies use customer credit scores as one factor in determining… Read more »
One of the biggest players in any real estate transaction is the title company. The title company serves multiple roles, all of them crucial to the closing process. Primarily, title companies exist to protect the parties involved, particularly the buyers and their mortgage companies. Here is what you need to know. A title company issues… Read more »
