Fire prevention tips often focus on reducing the risks of a fire occurring when you’re home; after all, everyone wants to protect their family. Home fires also cause significant property damage – $11.7 billion in 2011, according to the U.S. Fire Administration (USFA) – and greater damage can occur when no one is there to quickly report a fire.
Disaster films like “San Andreas” may appear to depict real-life scenarios, but most earthquakes are not all doom and gloom, says the Insurance Information Institute (I.I.I.). In fact, there are three ways to prepare for an impending quake that are relatively simple:
1. Earthquake-Proof Your Home
Falling objects cause the majority of injuries during an earthquake.
By their very nature, wildfires can inflict widespread destruction, often damaging property beyond repair. As such, homeowners in wildfire-prone states should purchase enough homeowners insurance coverage to completely rebuild their homes and replace all of their personal possessions, say the experts at the Insurance Information Institute (I.I.I.).
In a standard policy,
ne Whether it’s getting rid of cable or opting to cook and eat at home on a consistent basis, homeowners across the board are always looking for ways to reduce their monthly expenses. But when it comes to matters related to the home, many homeowners are leaving money on the table in the form of homeowners insurance.
According to the Chimney Safety Institute of America (CSIA), water can create more damage to chimneys than fires, and the rainy spring season can exacerbate issues. Whether the chimney is masonry or factory-built, prolonged water exposure can result in cracks or gaps where creosote can collect, increasing the risk of fire or carbon monoxide exposure.
Planning to buy a home this year? You will probably need to buy insurance as well. Nowadays storms and other natural disasters have become more frequent, and with the rise in claims, many insurance providers are no longer flexible in the costs or the coverage. With every provider, different polices will protect you against different circumstances.
The storms that hit Oklahoma in May produced two EF-5 tornadoes that caused 46 deaths and resulted in damage estimates that were above the $5 billion mark. These devastating storms are examples of a pattern of storms that has left the insurance industry wondering what’s next.
CEO of the Independent Insurance Agents of Oklahoma,
According to a recent study by the Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University, there will be a 5.9 percent increase in spending on remodeling projects in 2012. If you are one of the many Americans planning to remodel your home this year, it is important to have the right amount and type of insurance both during and after the renovation,
Most Texas homeowner’s policies combine five coverages: dwelling, personal property, liability, medical payments, and loss of use. Dwelling pays if your house is damaged or destroyed by a covered loss. It also pays for unattached structures and buildings. Personal property pays if the items in your house, such as furniture, clothing, and appliances, are stolen or damaged.