One of the major costs of owning a home is properly insuring it. The cost of homeowners insurance can vary dramatically by state but regardless of where you live, you are most likely paying more for homeowners coverage than you did a few years ago. According to the National Association of Insurance Commissioners, home insurance rates […]
An insurance rider is also known as an endorsement on your insurance policy. It is basically an optional provision attached to the policy that alters the coverage of your standard insurance policy. Riders are usually used to add additional coverage to the policy but can also be used to amend the terms of the policy […]
According to statistics, the United States sees about 1,000 tornadoes every year. These storms end up causing roughly $17 billion damage in property damage each year which is why carrying the proper amount of homeowners insurance is a necessity. Tornadoes can cause life changing damage and if you are uninsured or underinsured you may end […]
Wildfires have ravaged California this year which is leading to hundreds of thousands of residents not being able to find homeowners insurance or if they do, it is an expensive bare-bones policy. Many homeowners have been dropped by their regular insurance company as insurers pull out of the market in certain areas. The problem is […]
Recommended insurance coverages can vary and change as you age, start a family and acquire more assets. We thought it might be fun to take a look at what insurance millennials should be carrying. Millennials are defined as adults between the ages of 23 and 39 years old in 2020. Here is a quick rundown […]
If you are considering a second home, you should be aware of the expenses that come with it. As with your primary home, there are plenty of costs that go well beyond the mortgage payment. While you may have considered (or certainly should have) the cost of homeowners insurance, property taxes and even an HOA […]
In Salinas, Monterey County, California, a “River Fire” was ignited by dry lightning on August 16, 2020. Smoke fills the sky as it burns close to houses on its first day. Californians have experienced numerous wildfires this year and many of them are still burning out of control which has led to many homeowners having […]
Homeowners insurance is a must if you own a home. It helps protect not only the structure of your home but your contents as well. Homeowners insurance also offers protection against liability issues if someone is injured in your home. The final piece of homeowners insurance is additional living expenses (ALE), this coverage can be […]
One of the biggest obstacles to purchasing a new home is coming up with a sufficient down payment. The majority of mortgage lenders require a 20 percent down payment but that can be difficult in a market with high prices. As an example, if you are looking at homes in the $400,000 range you will […]
The Atlantic coast may see a busier than normal hurricane season this year and if coastal property owners have an issue paying their insurance premiums, leading to cancellations, the economic toll from a major hurricane could become much worse. As an example, in 2017, Hurricane Harvey flooded 204,000 homes and apartments which caused roughly $16 […]