Home Insurance Daily Blog

Owner Break-In’s

Avatar — Fri, 10 Dec 2010 14:45:36 +0000

Zurich Insurance, one of Britain’s largest home insurance providers has noted the huge increase of owner break-ins that is raising alarms. They say that if a homeowner can break into their own property, others surely can. May it be forgotten keys or a stove left cooking with the house keys besides them, the incidents of owners breaking in themselves are on the rise. Break-ins is one of the highest criminal activities on the planet and people seldom take the necessary measures to beef up the security of their homes. It takes an incident to wake their protective gears into motion and start beefing up security which might be too late. Burglars love targets of opportunity; open doors, weak locks and the likes are prime target5s and can be observed casually with little effort. Breaking in would also be easier for weak locks don’t need sledgehammers but a screwdriver and a pair of pliers might do.

Hot Weather – Burglary Season

Avatar — Wed, 10 Nov 2010 14:43:32 +0000

During summer, when the temperature rises to extremes, more and more people prefer to go out and enjoy summers somewhere else. Much to the delight of burglars and other crooks, who are after easy targets that require little effort for easy money. Security is one of the enemies of the homeowner and lack of which would mean higher risks thus higher premiums. Installing or beefing up your home’s security would greatly improve your chances of lower premiums even if you live in a high-crime area. Most people risk easy pickings from these crooks who know when and where people go and are even part of the neighborhood. Slums and other congested areas are prime targets for these are areas where homes may be too weakly protected and are more likely not to have expensive security alarms.

Live in Disaster Prone Areas – No Home Insurance

Avatar — Sun, 10 Oct 2010 03:06:26 +0000

Homeowners of areas which experience frequent natural disasters like those affected by hurricane Katrina, have insurance firms packing up their bags. Allstate started it all when they began to send out notices to current home insurance policy holders that they will not be offering renewals of their policies with new policies put on hold as they shift to other more profitable areas. The insurance industry has suffered a lot during the recent sequences of natural disasters that piled up to the extent of some going bankrupt, unable to settle claims from customers who have policies with them. State Farm followed suit and also began denying the issuance of new policies and renewals were also denied. Market experts and specialists found that these insurance firms have gone to extreme measures by covertly doing their withdrawal tactics leaving homeowners high and dry. Even new house buyers are getting second thoughts for they have the money to get the house and insurance but since policies are not issued, there would be no way of protecting their investment.

Economic Rut – Financial Market Reforms a Must (Part 2)

Avatar — Fri, 10 Sep 2010 03:22:47 +0000

Political analysts say that a change in the presidency might be just what the economy needs to get a fresh start. A complete re-think of their international policy making strategies and stiffer monitoring of financial institutions back home are just come of the measures candidates and citizens alike are saying that must be focused on. The Federal government already has a budgetary deficit that runs into the billions of dollars and with a slowing economy, it will only get worse. Just hope the next president of the United States has a magic formula to fix years of economic degradation in their prescribed term.

Economic Rut – Financial Market Reforms a Must

Avatar — Tue, 10 Aug 2010 03:21:12 +0000

President Bush has openly admitted that the country needs extensive overhaul of it’s financial market regulation system. The current crisis stems back from the Enron and other multi-national firms being linked to illegal insider trading which shook the financial markets. Then followed the sub-prime lending money woes which had lenders shelling out billions just to cover losses they have incurred due to bad loans. The economic crisis is reaching a point at which the Federal Government’s denial of a recession being a total blind note for everybody on the street says the country is already in one. Consumer spending is showing the crunch in the economy with sales being in all the rage. Problems like identity theft that further tax financial institutions are not helping either and the problems just keep on piling up.

Verifying Property

Avatar — Sat, 10 Jul 2010 15:07:44 +0000

There is a common myth in the purchase of property that if it is done in good faith, then it must be a good deal which is very much wrong. Before you go on buying property for any reason (residence, business and others) have it verified for any outstanding problems such as with respect to previous insurance policies and issues that might affect the amount of premiums you’ll have to pay because of something you didn’t know. All sellers want to promptly sell their properties and some do go to extreme lengths to hide problems in order to catch that buyer fast. A quick trip to the local city office can prove to be enlightening and would allow you to get the “history” of a stated property beforehand. Better be sure than sorry with a house you can’t insure or has previous records of settling or flood damage. Remember those multi-million dollar properties somewhere in California that were located on scenic hills and mountains that fell to the gullies and cliffs below. The owners of those properties were not informed that the mountains their houses were built on were highly fractured and unstable. Lawsuits flied and heads rolled in the process. So learn from that, and take precautionary measures before you take the bait, hook line and sinker.

Home Contents Insurance (Part 3)

Avatar — Thu, 10 Jun 2010 03:28:06 +0000

Check out the required protection levels from your local officials and insurance, the better the security system the more discounts you can get from insurance. When leaving your house for sometime for they have set limits as to how long a house can be left unattended and still be covered. Always review you policy when renewing it for any changes that might need to be reflected onto your insurance. There is also a clause which will indicate the need for reasonable care which excluded coverage for items deemed to have suffered neglect or intentional damage. Expensive items are to be itemized onto your policy for the standard contents insurance has set limits to the general maximum insured limit they will be paying.

Home Contents Insurance (Part 2)

Avatar — Mon, 10 May 2010 03:27:13 +0000

Flooding, earthquakes are some factors that can make your insurance decline in value or have the premiums increase due to the higher risks involved. As your children get older and they move out of the house to go to university for further studies, check with your insurance if they will be covering their possessions as well. Ask for any requirements with regards to security so you can bolster inadequate measures you may already have. Be mindful of the excess limits or the maximum cash you shell out before your insurance starts paying. The higher the amount you shell out before insurance the lower the policy price. But also watch out for the maximum ceiling they set for their payment limits. Going away for an extended period of time, inform your insurance and install security alarms which are required by law.

Home Contents Insurance (Part 1)

Avatar — Sat, 10 Apr 2010 03:25:23 +0000

As with the many other add-ons you opt to get that brings you closer to becoming a full time paranoid homeowner, the contents of your home can be insured separately if they are not covered by your standard home insurance. There are several things to consider in selecting home contents insurance which can make or break its ability to save you from costly repairs and other work associated with the insured contents of your home. The first thing to do as with any contract/offer is to read the contract carefully listing down the strong and weak points (the later is usually done in small print so be prepared to squint a lot for reading them). List down the items which are not covered, so you can compare them with other products from other companies to get the best deals around but do not be fooled by policies that sound too good to be true for they are.

Adjustments to your policy

Avatar — Wed, 10 Mar 2010 15:06:20 +0000

As said before, any improvement or addition to your insured home must be reflected in your policy. If not, damage to that specific improvement may not be covered and could cost you a lot in repairs should they be damaged. It is best to inform them of any improvement projects before they are done so they can prepare the proper people for the necessary re-evaluation of your property. After the improvements, they will send an assessor to your house to see that the changes are in accordance with all applicable laws and that the improvement does indeed warrant an update of your policy. This gives you that little addition to your finances in case you should need to do repairs that result from damage thus necessitating a claim.