4 Items to Consider Prior to Remodeling

As the housing market continues to struggle Americans are finding it difficult to sell their homes. Off hand, I know 3 individuals that have had their homes on the market for over a year and have not had any potential buyers! They've tried everything. Hiring real estate agents, professional cleaners, and finally, remodeling, my friends are feeling the pain of their hard earned cash escaping their pockets.

Sinking more money into the existing home in hopes of making their home more attractive to home buyers can be a great solution. Sometimes, however, remodeling is not the route to go. Here are 4 things you should consider before remodeling your home.

http://www.usatoday.com/money/economy/housing/2010-08-27-personalfinance27_ST_N.htm

Going Hybrid is Going Green (in a weird way)

Back when hybrid cars first hit the market there was a certain type of person that was attracted. For the most part, they were environmentally friendly and aware, they were defensive drivers on the road and they actually got credits on their insurance policies because they were "safe" drivers compared to the rest of us.

Not any more.  I've been hearing this talked about for a couple of months, but hadn't seen it actually proven, other than some insurance company underwriters making jokes.  I just read an article from Insure.com that makes the case that, for insurance purposes, driving a hybrid car will cost you money.

If you don't drive a hybrid you can laugh and exclaim "I knew it!"  If you do drive a hybrid feel free to tell yourself that you're not one of the problems.

http://www.insure.com/car-insurance/hybrid-drivers-social-responsibility.html

Enjoy.

Auto Insurance After a DUI

Hopefully it's something that you'll never have to deal with...getting insurance after being convicted of Driving Under the Influence (DUI).  It's not impossible, but it will almost certainly cost more and will mean moving your insurance to another carrier.

In most cases, after your day in court, in order to drive at all you need to have an SR-22. That's the form name for a "statement of responsibility" or in other words a document from an insurance carrier to the government saying you've got coverage.  It's the form required when you've lost your regular driving rights and that can happen for more than just a drinking-related offense.

After a conviction, or sometimes just the ticket itself, you might be non-renewed from your current carrier.  You'll then need to find something else quickly.  We use Progressive Insurance. They are a very good company that, to my knowledge, will take all comers.  Yes, it will be more expensive, but that was a foregone conclusion.

It's also possible that nothing will happen and your carrier doesn't find out about the incident. That depends on the state and insurance company as some carriers will do periodic motor vehicle record checks on existing insureds and some don't.

Either way, the sooner you speak with your agent the better because this process does take some time.  If you have more detailed questions about your situation or if you have more information you'd like to share please post in the comments section.

Replacement cost increases? In this market?

There is a battle being waged everyday in the offices of independent agencies across the country over what is commonly known as "inflation protection".  The idea is that a personal homeowners policy will increase the replacement value of a home year-over-year to keep up with perpetually rising costs.

Then came 2007, 2008, 2009 and now 2010, when if you've picked up a newspaper, turned on a TV or listened to the radio you would have heard something about the housing market and it's not so sunny outlook. We'll lay out the reasoning behind both arguments and discuss how that effects homeowners insurance quotes, premiums and rates.

Replacement Cost vs. Market Value

In homeowners insurance there is a constant question between insured and carrier about the amount of insurance on a home.  Insurance carriers want to insure a home for its reconstruction cost, the actual price of materials and labor to rebuild the home.  The homeowner typically thinks of his home's value in terms of market value. And while there are certainly some commonalities between the two...they are separate concepts.  We'll explore the relationship between Replacement Cost vs. Market Value next...

Take Action! after a water loss

We get dozens of calls a year from people with water problems...water in the basement, sump pump failures, leaky roof, damp walls, etc.....  There are a few action steps that people should take immediately to minimize the damage.  We are going to detail some of the most important first steps on this blog that should help you and minimize your insurance loss.

Travel Insurance

Travel insurance takes many forms and has many variations, so how do you know which one is right for you?  Not to throw more questions at you than answers, but the answer is "it depends."  You need to ask yourself a couple of questions first....

-What am I spending on the trip?
-Is any of the cost of the trip refundable?
-Are we going somewhere with access to decent medical care?
-Do I need coverage for my belongings?
-What happens if I have a pre-existing condition.

Here's an article from the New York Times that hits on these points and more.

http://travel.nytimes.com/2010/06/20/travel/20prac.html?ref=travel

I work with a company called Travel Guard that has customizable solutions for whatever you want. The cost ranges from about 4% of the trip cost to 25%.  Please note that if you buy this through a travel agent, they will probably give you a comprehensive option that has a whole lot more add-ins than you want or need.

Call me if you have questions.