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Homeowners Insurance

The most recently published posts in the Homeowners Insurance category
The price of insuring a property can raise the cost of ownership significantly. There are various factors that affect the cost of insuring a home:· Location. A home near a fire hydrant or protected by a professional fire department, as opposed to volunteers, will cost less to insure.· History of claims. Previous claims push up the cost of insurance. Ask the seller to provide a home’s insurance cla...
Read Post [Posted on 09/30/2014 By John Askins]
Private mortgage insurance is unavoidable for some homeowners, but don’t pay PMI premiums a day longer than required by your lender.Your lender should automatically cancel your private mortgage insurance when you’ve built up 22% equity. Image: Inti St. Clair/Photodisc/Getty ImagesPrivate mortgage insurance provides protection to a lender in case you default on your home loan. Unless you make a 20%...
Read Post [Posted on 09/24/2014 By Garrett McWhorter]
Protecting your investment in your home is an ongoing process. Whether you are adding a new roof, painting or buying appropriate insurance; there will be a significant cost to protecting your home. With flooding, hurricanes, and high wind in the Houston area; insurance becomes even more important.Buying a home –When you are buying a home in Texas you will normally pay for an option period dur...
Read Post [Posted on 09/17/2014 By James Brodnax]
Know about exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately. Know about dollar limitations on claims. Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items a...
Read Post [Posted on 09/08/2014 By John Askins]
Even though renters insurance is relatively affordable, 65 percent of renters don't purchase coverage, according to the Insurance Information Institute. The average renters insurance plan costs about $16 a month, or less than $200 per year, according to the National Association of Insurance Commissioners.  "It can be extremely expensive to have to re-buy the entire contents of your home, so ...
Read Post [Posted on 08/29/2014 By John Askins]
Do You Need Hurricane Insurance? Published: October 26, 2010 By: Gwen Moran Be the first to comment Tagged in: Protect Your Home Home Insurance Disaster Insurance How to Protect Your Home From Storm Damage . You have to investigate your policy details and how they relate to your location before making a decision on hurricane insurance. Effort: Low 1 day (policy r...
Read Post [Posted on 08/15/2014 By Cassandra Dixon]
FICO Scoring Changes May Help More Qualify for Mortgages Daily Real Estate News Monday, August 11, 2014 FICO, the nation’s most popular credit-scoring system, announced it is tweaking some of the criteria used in coming up with consumers’ scores, which could help consumers save more money in qualifying for mortgages and other types of loans.The changes include ...
Read Post [Posted on 08/11/2014 By Tawnya Marney]
Low appraisals have been blamed for continuing to hamper the real estate market. So Kirchmeyer & Associates has begun an appraisal warranty insurance program to its appraisal management services to protect lenders and investors against faulty appraisals. The insurance protects lenders and investors against default losses, including repurchase expenses, as well as “provides assurance to t...
Read Post [Posted on 08/04/2014 By John Askins]
If you have a mortgage on your home and you live in a high-risk flood zone, in most cases, your lender requires you to buy flood insurance.However, if you live in a moderate- to low-risk zone, and your community belongs to the National Flood Insurance Program (most do), then you have the option of buying it.If you’re in the latter category, your first question probably is, “How much does...
Read Post [Posted on 07/20/2014 By Kimberly Oldfield]
Homeowner's insurance policies are often an after-thought--that is, until disaster strikes. Home owners in places such as Joplin, MO., Tuscaloosa, AL., and other cities flattened by tornados found out too late that their insurance policies likely would not entirely cover the costs to rebuild. While most home owner's insurance policies will cover tornado damage, many home insurance p...
Read Post [Posted on 07/14/2014 By John Askins]
Many home owners are contemplating reducing their homeowners insurance coverage since their property’s value may have changed. But experts warn that’s not a good idea and could leave home owners with insufficient coverage if a disaster ever strikes.“The market value of your home and its insurance value can vary widely because they are based on different assumptions and calculations,” acc...
Read Post [Posted on 07/09/2014 By John Askins]
Home owners' insurance premiums have been on the rise with many home owners seeing double-digit hikes and a rise in average annual premiums now over $1,000. An article at Money Magazine offers some of the following tips to help curb home owners' insurance costs: Shop around. “If your rates rose 5 percent or more [in the last year], make sure to call the company for an explanation,” the M...
Read Post [Posted on 06/26/2014 By John Askins]
Sixty-five percent of home owners with private mortgage insurance say that the additional cost of PMI prompted them to pay a higher monthly mortgage payment than they had originally expected, according to a new survey released by TD Bank of more than 2,000 Americans who purchased a home in the past 10 years.  "PMI has had a definitive impact on many home buyers – including making t...
Read Post [Posted on 06/24/2014 By John Askins]
Some of the nation’s largest insurers continue to raise home insurance premium rates, or plan to soon, reports The Wall Street Journal.For example, State Farm Mutual Automobile Insurance Co. says it increased home owner rates, on average, 7.3 percent, and in some states it raised rates even more. Other insurance companies also report higher rates--a company in Florida reports an 11 percent increas...
Read Post [Posted on 06/20/2014 By John Askins]
The majority of home owners report they know about flood insurance, yet only a small percentage actually add the extra coverage to their standard homeowner’s insurance policy, according to a study by Bankrate.com. Eighty-one percent of Americans say they are aware that standard homeowner’s insurance policies do not cover flood damage. But only 13 percent of home owners report having a flood insur...
Read Post [Posted on 06/07/2014 By John Askins]
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