homeowners insurance

Gazette, The (Colorado Springs) - Hiring career firefighters may lower home insurance

admin — Mon, 08 Feb 2010 01:35:59 +0000

A fire department’s reliance on volunteers is one of many factors companies use to set home insurance rates, said Carole Walker, director of the Rocky Mountain Insurance Information Association.
Whether a department uses volunteers, career firefighters or a combination affects the ISO rating assigned to each property, which is a measure of the risk of an insurance claim.
Hiring career firefighters to supplement volunteers, as some departments have done, might lower the cost of insurance. Although many volunteer firefighters have as much training and skill as career firefighters, rates could be lower in an area served by career firefighters because of the greater likelihood that the fire station will be manned 24 hours a day.

Loans: How Much Will I Pay in Equity Loan Fees?

admin — Sat, 09 Jan 2010 06:31:04 +0000

Equity loans come with many fees and costs. Therefore, homeowners or borrowers are wise to select a loan that has the cheaper rates. Over the course of any loan, a borrower will pay a deposit on a equity loan. The deposit is a contracted agreement exchanges between seller and borrower. The deposit is usually a percentage of the home value, which extends as much as ten percent, or more.

Other fees, such as the legal cost and conveyance fees will cover the legality of the agreement. This is important to understand, since lenders will often hire in a solicitor to inspect the home. The homeowner has the right to request his own inspector, thus potentially saving costs and fees.

The valuation and surveying fees are also inspectors that guarantee that the home equity is worth the lending amount. Again, the borrower has a right to select his own inspector to save costs and fees.

Stamp duty is unavoidable, since this is the tax that goes to the government. The indemnity guarantee is a form of insurance if the home purchased has a high LTV Ratio. This means that the home is worth the amount of the loan, but not much greater than the amount borrowed. Therefore, you are paying for insurance and premiums, which may be optional for reducing costs

if you select the best value.

Insurance of course is not optional in most instances, but is optional for cutting costs, since the homeowner can select his own choice of coverage in most instances. The Arrangement costs are applied to the wages of the lender, since he took the time to find you a loan. This fee may be optional for including in the repayments. Finally, many lenders will obligate borrowers to lifeinsurance polices. This is also an optional charge that you can select to cut costs on equity loans.

Protect Your Pushbike as Cameron Falls Victim to Bike Theft…Again

admin — Fri, 04 Dec 2009 05:21:05 +0000

As David Cameron falls victim to bicycle theft for the second time, Confused.com encourages owners to check that home contents insurance policies offer adequate protection against the crime. With summer fast approaching, many cyclists may be looking to dust off their bikes.

Darren Black, head of home insurance at Confused.com said: More often than not, bikes are easy pickings for thieves as people often leave them unlocked while they quickly pop into shops. It doesnt take a long time for a thief to spot an unattended target and ride off on it. As people, including David Cameron, continue to fall victim to bicycle theft, there are several pointers that cyclists should follow to limit the risk of falling victim to the crime.

Preventative advice from Confused.com includes:
When cyclists are away from home and need to leave their bikes, it is important to make use of bicycle parking racks available in city centres, as well as always locking their bikes regardless of how long they will be away from them
Using racks situated in busy areas of towns and streets is advisable
When cyclists bikes are at home they should keep them locked away, either inside the house or in a secure outbuilding
Cyclists are advised to use ultraviolet marking pens to mark their postcodes on the bike. This will make it easy to identify, if recovered by the police
Photographing the bikes for insurance purposes
Cyclists should double-check their contents insurance polices. Some policies offer cover as an add-on, whereas others offer the cover as standard. It is important that the cover is adequate for the bike and the value of it
For providers who offer bike cover as standard, it is important to ensure that it insures the bike when away from the home
-ENDS-

For further information please contact:
Press Office, Confused.com: 02920 434 398

Notes to editors
About Confused.com:
Confused.com is one of the UKs biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include house insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com has a panel of 60 home insurance providers and can save customers over 180.74* on their annual home insurance policy.

Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.coms service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.

* Based on 24% of customers who received a home insurance quote in the first quarter of 2009 and provided a best alternative price saved over 180.74

Market Wire - Thousands of Home Owners Risk Safety With DIY Firework Displays

admin — Wed, 25 Nov 2009 14:27:03 +0000

As the fifth of November approaches Swinton is warning anyone putting on a home firework display to plan and prepare well in advance.

Each year millions of people across the UK put on home firework displays and many do not take enough safety precautions, say Swinton, the UK’s leading high street retailer of home insurance .

The most recent figures for Great Britain show that 990 people went to hospital with a firework-related injury in the four weeks around Bonfire Night in 2005. Nearly half of the injuries (48 %) were sustained at family or private parties, according to The Royal Society for The Prevention of Accidents.

Swinton is advising homeowners to follow the ROSPA’s Top Ten Safety Code -

- Plan your firework display to make it safe and enjoyable.

- Keep fireworks in a closed box and use them one at a time.

- Read and follow the instructions on each firework using a torch if necessary.

- Light the firework at arm’s length with a taper and stand well back.

- Keep naked flames, including cigarettes, away from fireworks.

- Never return to a firework once it has been lit.

- Don’t put fireworks in pockets and never throw them.

- Direct any rocket fireworks well away from spectators.

- Never use paraffin or petrol on a bonfire.

- Make sure that the fire is out and surroundings area made safe before leaving.

Always buy fireworks from a reputable supplier and should read the instructions carefully before attempting to light them.

Steve Chelton, Development Manager for Swinton Home Contents Insurance , said: “Although firework displays can be enjoyable for the whole family, there is always a safety risk when handling fireworks. Anyone putting on a home display should research and thoroughly prepare for the event well in advance to ensure they are not putting themselves or their home at risk.”

About Swinton

- With 580 branches nationwide Swinton is the UK’s largest high street insurance retailer

- Unlike many other companies in the financial services industry, Swinton is committed to keeping its branches open for business, and part of the community

- Swinton provides a one-stop-shop for the insurance and related needs of its clients, offering home, car, caravan, business, holiday, motorbike and even classic car insurance

- With a dedicated team of advisors on hand at every branch to search a panel of insurers to offer quality cover at competitive rates

Contacts:
SKV Communications
Michael Travers
0161 838 7770

SKV Communications
Anoushka Foster
0161 838 7770
www.skvcommunications.co.uk

UK Climate Projections report from Defra predicts hotter summers and wetter winters

admin — Fri, 30 Oct 2009 16:55:58 +0000

The prospect of hotter summers is something that most people will welcome, but they forget that it can increase the chances of subsidence on their homes. And if followed by wetter winters, this could lead to greater flooding problems for homeowners.

Although these predictions are for quite some time in the future, we have already seen a dramatic change in the weather, and generally wetter winters mean that many households may experience flooding for the first time. Therefore its essential to have home insurance in place, just in case.

Similarly, the housing boom of previous years means that more and more houses were built on less suitable land, and hotter summers may cause havoc by increasing subsidence. If you do get caught out, having house insurance is crucial in lessening the impact, by making it possible to replace anything damaged.

Darren Black, head of home and contents insurance at Confused.com says Flooding is no longer confined to the current flood zones and, with wetter weather being predicted for the future, more houses are at risk. Whilst there are precautions that can be taken to minimise the effect, having home insurance will offer you real peace of mind that items can at least be covered if the worst happens

Similarly with subsidence, even new homes are susceptible, so it is essential to have your home insurance in place, to help make picking up the pieces a little less painful in the event that it does happen

-Ends-

For further information please contact:
Press office, Confused.com: 02920 434 398
Darren Black, Confused.com: 02920 435574/07976 557 310

Notes to editors
The UKs Climate Impact Programme was released Thursday 18th June 2009. For more details see http://ukcp09.defra.gov.uk/index.html

About Confused.com:
Confused.com is one of the UKs biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home contents insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com has a panel of 60 home insurance providers and could save customers over 180* on their annual home insurance policy.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.

* 24% of customers who received a home insurance quote in the first quarter of 2009 and provided a best alternative price saved over 180.74

Homeowners Insurance: Insuring Home Improvement Success

admin — Thu, 22 Oct 2009 21:20:57 +0000

Summary by editor of www.bizwe.com : Step one: Contact your insurer Step two: Find an insured contractor Step three: Get building permits When you’re planning to spend thousands of dollars on home improvements, the last thing you want is for your investment to go down the drain. For that reason, it’s crucial to make sure you’ve taken all the necessary steps to insure your project before you begin. Step one: Contact your insurer Major renovations can leave your home exposed, physically and financially. Those new French doors could be stolen before they are installed. Major roof work might leave your home exposed to the elements, some of which might not be covered under a regular homeowners policy. In such cases, adjust insurance coverage temporarily. “During construction, there may be some kind of insurance rider just in case there’s an accident or something that protects you in addition to your insurance coverage,” says David Lupberger, a home improvement expert for ServiceMagic, a company that matches contractors with homeowners. Talk to your insurance agent about what you’re planning, and he or she can guide you through short-term coverage options. Step two: Find an insured contractor When hiring a contractor, check to see whether that person is properly insured. “Make sure they have workers’ compensation for their employees and have general liability insurance for the company,” says Lupberger. “What that means is when a professional contractor is working on your house, if a worker is injured, you’re not liable. If the contractor damages something, destroys something or burns your house down, you’re protected.” Likewise, if something happens to the contractor’s tools or equipment while the project is being completed, his insurance will pick up those costs. Uninsured contractors may charge you less for the job, but you’ll pay the price if something goes wrong during the renovations. And even if a contractor tells you he’s insured, don’t take his word for it. “Have the contractor show you a certificate of insurance,” Lupberger says. What if you decide to do the project yourself? “In that case you don’t so much have a liability or a third-party liability issue,” says Richard Standring, program manager for risk management advisory services for Fireman’s Fund Insurance Co.. As a result, there’s no need for workers’ compensation or general liability insurance. But, depending upon the scope of the project, your insurance agent may suggest you hire a professional instead. “We would never recommend that a policyholder go out and do any type of work that would require a license, especially around an electrical or plumbing system,” says Standring. Also, if you damage your property in the process and your insurance provider determines that your negligence caused the mishap, it might not pay the claim. Step three: Get building permits Some jobs require building permits, particularly if the structure of your home will be changed. In these instances, work must adhere to building codes. Your city or county government can tell you whether your project is under this category. If so, have the contractor apply for the permits. Once the job is done, a building inspector will inspect the work, says Carolyn Gorman, a vice president with the Insurance Information Institute. If the work fails the inspection, the contractor is liable and has to make adjustments. Incompetent builders can have a tremendous effect on your home’s coverage. If you add a room to your home and it does not meet building codes, your insurer could refuse to cover it. Step four: Estimate the project’s worth Every home improvement project need not warrant a change to your home insurance policy. If you buy a new refrigerator, change one or two appliances or upgrade one of the bathrooms, there’s probably no need to make revisions. “But any time you’re investing more than $25,000 back into the value of your home, your insurance company should really be on notice of that change,” says Standring. If unsure, err on the side of caution and check with your agent anyway. Step five: Review your policy Once the project is complete, your insurer can help you determine how much value the work has added. This information is crucial: You want the homeowners policy to reflect the new, upgraded value of your home. Say your home is insured for $200,000. Add an expensive addition but fail to revise the policy, and it’s like the work didn’t happen. If your house burns down, what proof do you have of any improvement work? “When it’s time to rebuild, your insurer is not going to give you any more than $200,000 because that is the policy limit,” says Gorman. There is an exception to this rule. If you have an extended replacement cost policy, it pays a certain percentage — generally 20 percent to 25 percent — over the limit to rebuild your house. While such a policy would cover minor renovations, you will no longer be adequately covered if you increase the value of your home by more than 25 percent through the improvements you’ve made. by Tamara E. HolmesMonday, July 16, 2007 Copyrighted, Bankrate.com. All rights reserved. From: http://www.bizwe.com/archives/homeowners-insurance-insuring-home-improvement-success/

Home Insurance: an Impeccable Security Blanket for Homes

admin — Mon, 19 Oct 2009 13:11:06 +0000

The need of a home simply cannot be ruled out. It gives the assurance that whatever might happen, one would always have a roof above one’s head to seek asylum from the brutality of the times. However, what is most heart-wrenching is the fact that like so many other things, this era has made this basic requirement of life distanced from the masses. Indeed, with prices of everything propelling up, the dream of owning one’s own house is just that for an average earning man, a dream. That is till the time he does not decide to go for loans.

Thankfully, with plenty of financial institutions coming up and loans available rather easily, this dream that once appeared to be too expensive for lay people is actually turning into a reality. However, if one is of the notion that the work is over by possessing the house then one is sadly mistaken, for the real challenge starts now. The challenge is to protect one’s dream possession from a range of calamities. And when it comes to protecting one’s home then one thing that automatically comes to mind is home insurance.

Home insurance provides a security blanket which protects a house from such potent threats like fire, earthquake, storm, lightning, flood, theft, burglary, riots, vandalism, fire, explosion, subsidence, burst pipes, civil upheaval, water leakage, oil leakage, impact from vehicles, falling trees, air crafts etc.

However, as it is with any other form of insurance, in home insurance also one has to take care of a few points so that one is in a position to derive maximum advantage from it. The most important thing to find out here is whether the policy covers the entire value of the house. Does the policy come to life as soon as it is signed? Is the amount required for claims satisfactory? Lastly, one must check the policy periodically and ensure that obsolete points are removed. Obviously, information to this effect must be communicated to insurance company so that there are no hassles.

Such precautions on account of home insurance policy holder would actually go a long way in ensuring that one’s house is nicely protected from all possible threats.

Comparing Home Insurance

admin — Sat, 26 Sep 2009 22:00:51 +0000

Mortgage or home insurance is important. When you take out your loan your lender may had attached PMI coverage for your home. This is only a security blanket for the lender. You want to find a policy that benefits the lender as well as you.

You can find home insurance on the market that offers both you and your lender a security blanket. Some home insurance plans will protect your home in the event natural disasters occur. When you own a home, since this is a large investment you want to find a policy that will cover:

Natural disaster, such as fire, theft, hurricanes, tornadoes, etc, and any damage from vandalism, or unnatural disasters;

Insurance may include liability. This is a good idea, since if someone is hurt on your property you want to make sure that you have an insurance policy that will cover any medical, mental damage, legal coverage and so on.

Some of the home insurance policy also has life insurance. Life insurance will cover you in the event if you die. Some insurance policies will pay burial and cover your mortgage. This is a great insurance, since you do not leave the burden of finances on your loved ones.

You may want to inquire about wind damage insurance. Many companies will not offer this plan, since it is an act of God. Some companies will offer the coverage however, yet you have to purchase the coverage separately.

You want to make sure that your belongings are covered. Rather than spend a fortune out of your pocket to replace your furniture, equipment, electronics, etc get coverage that will offer you a backup plan in the event disaster occurs.

Most plans offer some sort of protection for your belongings. How much you pay in premiums and deductibles determines in most instances how much the insurance company will pay.

When you take out insurance coverage, make sure that you inquire or find out how soon the insurance company wills payout on life insurance, home insurance, etc. Some companies will take longer than others will to payout on repairs, burial, et cetera. You want to avoid these companies, rather choose a company that will not take up your time.

Take some time to explore insurance plans, policy, stipulations, clauses, premiums, deductibles and so on when searching for home insurance. Use the quote systems online to compare companies, policy, and cost and so on.

You have many options with insurance, so go online and check out the variety of packages and plans. Don’t forget you can get your premiums lowered by agreeing to pay higher deductibles. If you agree to pay $1000 out of your pocket for example, your premiums may go down a certain percentage, depending on the company.

KEY FINANCIAL RESOURCES FOR SENIORS IN LOS ANGELES-How To Pay for a Caregiver in Your Home

admin — Sun, 20 Sep 2009 03:35:58 +0000

According to recent studies, most of us wish to stay in our own homes as we grow older. Sometimes, illness and age-related infirmities mean that we need some extra help in order to stay independent at home. It is likely that fully 50% of us will need some sort of care, either at home or in a facility, as we reach our senior years.
So how do we pay for this help? After discovering, disappointingly, that Medicare does not pay for a caregiver in your home, you need to know about some other possible alternatives:

1) Long-Term Care Insurance - this is a first choice because it pays for in-home care at different levels, but of course, as with every other insurance, you need to purchase it before you need it! You do have to be fairly healthy to qualify for it. This type of insurance was specifically designed to cover the type of care you may need as you get older. It is not health insurance, or health care insurance, nor is it covered by your medical insurance. It pays for help with the Activities of Daily Living (ADL’s). Long-term care may become necessary when an individual is unable to perform two or more out of 7 ADL’s, and these are: walking, bathing, dressing, toileting, transferring, maintaining continence and eating. There are many different levels of care that you can obtain, and for varying costs, but make sure that policies being presented to you are fully explained, and that what you decide to purchase suits your potential need. Also, make sure that you get your long-term care insurance from a large and reputable insurance company, one that is likely to be around when you need them. Some basic research in this regard is useful.
2) Viatical Life Settlement - this is something that is offered by companies to owners of life insurance policies that have a cash-value, such as whole life and universal life policies. The policy owner is offered a lump sum payment for their life insurance policy. The amount paid is usually more that the policy’s cash surrender value (but less than the face amount of the insurance).
3) Reverse Mortgage - if you have equity in your home, and are over the age of 62, you will qualify for a reverse mortgage. This is a loan against your home that you don’t have to pay back for as long as you live in that home. Instead of you paying a monthly mortgage, as you did for the first 20 or 30 years, the company pays you! You can obtain the loan either in the form of monthly payments, or in a lump sum, or it can remain in the bank like a home equity line of credit, and the owner taps into the money as it is needed. Reverse mortgages are backed by the Federal Housing Authority (FHA) and are therefore completely safe. You won’t have to move or make monthly repayments for the rest of your life, or until you decide to move. You may also be assured that your heirs will receive whatever remains of the value of your home after the loan amount is repaid when the house is sold.
4) Veterans Administration - if you served in the military, you may be eligible for financial aid which could pay for caregiving. Since benefits vary, it is important to impart complete and accurate information when applying. It is advised to consult an advocate who is experienced in working with the VA, such as a geriatric care manager.
CarenetLA is a non-medical in home-care company which provides care to those wishing to remain in their own homes. Services are affordable and, as far as we are concerned, you are the boss. The CarenetLA team will work with you and your loved one to ensure you are getting the best possible care. Compatibility is guaranteed. For more information, please visit www.carenetla.com or call 310-393-1282.

Affordable Home Insurance - Save More

admin — Fri, 11 Sep 2009 20:15:50 +0000

Home insurance coverage is so very important that many have been laboring under the weight of high premiums due to the importance of this coverage. Laboring to keep god coverage over your home might not be your only option. You could look for ways to get discounted rates on the same full coverage you enjoy. I’m sure that sounds interesting. Read on to know more.There are some discount you may qualify for which may not be pointed out to you and you may not avail yourself of these benefits unless you are fully aware of them.What discounts?Every normal insurer would not want you to make a claim on your home insurance this way they make more money. If you therefore engage in any acts that would seem to be a source of danger to your home, you would be increasing the chances of your making a claim and therefore your premium would also be increasing to accommodate the likely claim. If on the other hand, you take actions and precautions that increases the safety of your home thereby reducing your chances of making a claim, you would be reducing your rates.Any and everything we do that increases the safety of our homes can and should qualify us for discounts. Some examples are:-Having security gadgets.Having dead bolts on doors leading outside.Having someone at home always.Renovating your home.Having sprinklers.We’ve just looked at a few points. You can find out more if you directly asked your insurer.One very important point where a lot of people increase their cost significantly is when they add the cot of the land to the value of the building they are insuring.Do not add the cost of the land on which the building stands as you would be increasing your cost significantly without necessarily increasing the value of your coverage.Just ask yourself an important question. What could possibly happen to my land that my insurer duely covers? If there is any peril that can affect your land, it is likely that such peril is not covered by your insurer. So do not waste funds by doing this.One very important thing to note in searching for affordable home insurance coverage is to comapre lots of quotes so as to get a much better idea of what different insurers are charging for coverage you demand. When you compare quotes, you get a sneak preview that helps you make the right decision.This is a very effective way to get affordable home insurance rates. Visit at least 5 quotes comparison sites and get several quotes. It would take you about half an hour to get these information so you have no reason to delay.