Posts Tagged ‘insurance coverage’

What’s a Solid Insurance Portfolio and Why Do I Need to Have One?

December 1, 2014

solid_insurance_portfolioMany people have no idea what their insurance limits are. More times than not, they just purchase the least expensive they can legally get by with, as it is considered a “necessary evil”. However, talk to anyone who has experienced a large loss in their lifetime, and they’ll tell you either they’re sorry they did not have enough, or are glad they listened to their insurance agent and went with the recommendations.

The purpose of insurance is to protect your assets, and to put you back in the same place you were before a loss. The homeowner policy pays to rebuild the house, replace the personal property, and pay for a temporary place for you to live while the repairs or rebuild is taking place. It also gives you liability protection in case you’re negligent in causing bodily injury or property damage to a third party. The auto policy provides liability coverage if you’re found to be at fault in operating a car, in addition to repairing your car if you purchase comprehensive and collision coverage.

So what happens if the insurance you carry is not enough to cover the loss that has been sustained?  The answer is simple: You have to come out of pocket for the difference.

What, then, is considered a solid insurance portfolio? Here are my recommendations: (more…)

What Your Home Insurance Covers… And What It Doesn’t

September 3, 2013

insurance_coverageWhenever you purchase a new home with financing, the mortgage company will absolutely require that you also purchase home insurance. Many homeowners view their home insurance as a “necessary evil”, and simply purchase their policy without knowing exactly what it covers.

Lenders want to know you’re protecting their investment from harm, such as damage caused by fire, water, a tree falling through the roof, and even vandalism. Don’t wait until something happens and you need to USE your policy to find out.

Unless you’ve added some extra coverage – or “upgrades” – to your policy, here’s a good rule of thumb on what a typical home insurance policy covers: (more…)

The Proper Way to Insure a Home

August 21, 2009

replacement costsI remember speaking to a group of real estate agents in Douglasville back in 2006 on a caravan.  We were in a beautiful home in a subdivision with lots at least 1.5 acres. Keep in mind, this was back when the market was still excellent for sellers and property values were at their peak.  This particular home where the caravan was meeting sat on 5 acres.  The features of the home were as follows:
* 2 Story custom-built all brick home
* 6 Bedrooms, 6 full baths
* 5 Car garage
* Over 10,000 square feet of living area
* Fully finished basement with complete in-law quarters, including full stainless kitchen with all granite counter tops….in the basement!
* And more…

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Vacant Homes: Avoid a Financial Disaster

June 25, 2009

house floodThe landscape of today’s real estate market is fertile with many vacant homes. We all know there are a lot of foreclosed properties on the market and they’re being purchased by investors with cash to spend. Others are going ahead and buying the bigger property at the better deal, while putting their home up for sale. Meanwhile, these homes can sit for weeks, months or years at a time until they’re sold. (more…)