Archive for October, 2015

Three Home Insurance Mistakes You Are Making

Tuesday, October 27th, 2015

rsz_thinkstockphotos-475902405The most common mistake a homeowner can make is assuming what is and isn’t covered by their home insurance. Getting to know your home insurance can save you a lot of big expenditures in the future. Make sure to avoid these common mistakes so that you won’t be surprised by a hefty bill!

Underinsuring

Many homeowners are surprised when disaster strikes and they don’t have enough home insurance to cover the damage. A common mistake that many homeowners make is that they buy only enough home insurance to cover the mortgage on the house, which is 80-90 percent of the value of the house, or less if the house has appreciated in value over time. The best solution to this is to ask your insurance agent how much to insure your house for. You can also ask your insurer about automatic inflation provision to adjust your insurance if your home appreciates in value over time. You can also consider “extended replacement coverage”, which covers your home for 125% of your policy limit, or “guaranteed replacement cost coverage”, which covers your home completely, no matter what the cost. (more…)

5 causes of homeowners insurance claims

Thursday, October 22nd, 2015

homeowners-insurance

Did you know for many Americans their biggest asset is owning a home? As one of your most valuable assets, it is important for your financial well-being to have the right homeowners insurance for your needs. To find out which homeowners insurance is best for you, you need to get familiar with the most common causes of homeowners insurance claims and how to avoid the problems which lead up to those causes. Here are the most common causes of homeowners insurance claims:

  1. Hail damage happens every year for homeowners throughout the United States and no state is exempt from hailstorms. In Maryland hailstorms are most worrisome for farmers as the storms lead to crop damage and most hailstorms happen from late spring to the end of fall. How does hail form? It comes from high moisture blending with freezing temperatures in the cloud. Fortunately homeowners insurance can cover hail damage when you are looking at the average financial cost of $10,000 from hail damage. With hail damaging the roof and siding of a home, being proactive about having homeowners insurance as more than a maintenance policy is important. When you use your homeowners insurance as a maintenance plan, you’ll find yourself paying surcharges when filing insurance claims. Keep up on your roof maintenance and contact your insurance agent about any hail damage. (more…)

Steps to Take to Prevent Credit Card Skimming

Wednesday, October 14th, 2015
Credit Card Skimming

What causes credit card skimming and how can you prevent it from happening?

When you go out of town on vacation or on a business trip, it’s common sense to be careful to keep your credit or debit card information safe. However, what happens when you get home and realize that your card has actually been compromised? What causes this and how could you have prevented it from happening?

These days, a method known as “skimming” is becoming more and more common to steal your credit card information and PIN. Thieves attach devices known as “skimmers” to legitimate credit or debit card readers. They’re frequently found in restaurants, gas stations, and even ATMs. After a skimmer has read your information, it’s easy for thieves to use it to make purchases or get cash out of the ANTM. Since you still have your physical card, it may take days or even weeks for you to realize that unauthorized purchases are being made. (more…)

Three Reasons Why You Need to Get Life Insurance

Wednesday, October 7th, 2015
Life insurance

If you’ve been wondering the answers to some of the following questions, you might want to start thinking about your life insurance policy.

Nobody ever likes thinking about it, but it’s essential to start thinking about your family’s future well in advance to help keep them financially stable and protected after you’re gone. If you’ve been wondering the answers to some of the following questions, you might want to start thinking about your life insurance policy.

  • If you died tomorrow, how would your family be impacted financially?
  • Will your family be able to afford the cost of daily living and your own final expenses?
  • Will your family be left in debt or financial risk without you? (more…)