What to Look For in a Homeowner’s Insurance

The home is the most valuable property you can have. It is your safe haven and the place where you dwell with your children. There is no place like home so therefore every measure should be done in order to protect your home. This is where the homeowner’s insurance comes along. You should be able to scout around for the best insurance coverage for your property. It is always a safe bet to choose the big name insurance that has been operating for a long time, even those who exist long before you were born. However, many insurance companies nowadays provide excellent coverage. Below are some things that you should look for in a homeowner’s insurance.
1. Select an insurance that allows you to rebuild. You can buy a Homeowner 3 or HO-3 policy. This has coverage of 120-150% of the value of your house for rebuilding. Review your policy whenever you make improvements to your home. For homes that are more than twenty years old, make sure the policy will upgrade its pay to the current building codes. This can also be called dwelling coverage. This serves as protection of your home against destruction or damage. In case of fire, flood, lightning and other perils that damage your home, the insurance will cover the cost of repair and rebuilding.
2. Choose a policy that offer protection to your property. This covers what is inside your home. It is a percentage calculated at typically fifty percent of the home’s value. Electronics and jewelry are subject to replacement limits of $1,500 to $2,500 per item. Keep a dated record of your possessions and store in a safe-deposit box or some place outside your home.
3. Coverage for additional living expenses. If your home is destroyed by peril, this could mean a total loss. Make sure that your insurance covers for additional living expenses such as food, clothing and even shelter. Additional living expenses may vary depending on the insurance company. Some companies allow unlimited cash flow in this coverage while others will cover a percentage of your total homeowner’s insurance coverage and others do not provide at all.
4. Personal Liability Coverage. This protects you from lawsuits because of body injury or damage to property in which it is your legal responsibility to pay. Example of a liability case is when a person accidentally falls and slips on your property or a visitor trips down the stairs or even someone who is bitten by your dog. There Identifying Insect Eggs In The Garden are many potential liability issues so make sure you are covered-some major lawsuit could up you losing your house. It is very hard to predict lawsuits so it is important to have much liability coverage. You can ask your insurance agent how much it would cost to increase your liability limits. Most are generally under $100.00.
5. It is best to have an insurance coverage that takes care of your business. If you have business at home or …

Planning For Long-Term Care – An Alternative to Insurance

If you are over 65, you probably have a revocable living trust and a burial plan. And you probably do not have a plan for long-term care. If not, you aren’t alone – recent statistics say that 93% of seniors are in the same boat. That’s dangerous, because a Harvard study concluded the number one cause of senior bankruptcy is costs associated with a long-term illness.
Statistics say that 7 in 10 seniors will require some form of care in their lifetimes – 4 in 10 will need care for two years or more. With the costs of a nursing home in California averaging about $8,000 per month, you can see how large the problem truly is.
Most seniors who have investigated long-term care insurance have found it to be cost prohibitive. For a healthy couple, $200-400 per month will only buy protection for about two-thirds of the costs. If they have had a medical challenge, it can range much higher. Many have chosen to take their chances and do nothing.
There is another option – government benefits exist for long-term care. In fact, benefits are available for in home care, assisted Are Pesticides Safe After They Dry living, and skilled nursing homes. About two-thirds of all patients in a nursing home are receiving these benefits already.
The downside of benefits is that they usually come with strings attached. If you have heard anything about these benefits, you probably are under the impression you cannot have any savings and that your home will be lost after your death. Those are both possibilities in a worst case scenario. However, remedies exist to protect your assets, savings, investments, and your home.
If you are serious about getting benefits when you need care, do something today. There are two good reasons: 1) to identify any assets that might be lost if you need benefits, and 2) so you can make your own decisions. If you don’t do something in advance, someone else will be forced to do Best Indoor Insecticide so when an emergency occurs. They will be dealing with all sorts of resulting guilt and emotion. You are in the best position to protect what you’ve built. You are in the best position to take the burden off your loved ones. A little planning today can help protect your assets tomorrow.…