So you have now purchased your first home. What an exciting time! You probably have some plans on how you want to “make it your own.” In making these plans you should consider the best way to protect your investment. As a first-time home buyer, are you aware that the purchase of a home is…Read more
Know Your Insurance Deductible
Several states experienced the first catastrophe of 2014 when temperatures fell into the single digits. Pipes froze, burst and caused substantial water damage. Insurance claims were filed but policyholders didn’t realize they had a deductible or how much the deductible was and how it effected the policy. State Farm, the leading property insurer in the…Read more
Identity Theft Protection
Identity Theft is big business as 40 million Target customers experienced this December. Identity Theft Protection (ITP) can be added as a rider on your homeowners insurance with most companies for the cost of a pizza. Identity Theft Protection usually covers you up to $15,000 or $25,000 of monetary damage, however; it also helps you…Read more
Joint Custody and Homeowners Insurance
Going through a divorce is not easy. I know because I recently went through an expensive one! With more than half of all marriages ending in divorce you need to be aware of coverage gaps with homeowners insurance especially relating to liability coverage. Most divorce decrees will spell out which party is required to pay…Read more
Protect Your Greatest Asset with Homeowners Insurance
You think it never will happen to you. Surely you never will have a fire, theft, storm, or accident in your home. But, if the unthinkable does happen, you’ll want to have homeowners insurance to protect you. Homeowners insurance is there during your times of greatest need to protect what is probably your biggest asset.…Read more
Water Backup – What’s Covered, What’s Not?
Homeowners insurance is designed to cover a sudden and accidental loss but there are exclusions. One of the most common exclusions is water backing up from a sewer line and overflowing into the home. There are policies that provide coverage for water backing up through sewers or drains as long as it originates on premise.…Read more
Rental Property Insurance vs. Homeowners Insurance
Robert moved from Richmond, Virginia to Leesburg and called me to update the mailing address on his insurance policies. I asked him what he was doing with his house in Richmond and he told me he tried to sell it but couldn’t get his asking price so instead he decided to rent the house. Robert’s…Read more
Why Are Home Insurance Rates Increasing?
Home insurance rates are increasing in Richmond, Virginia and throughout the country. There are several reasons for the increases, which I’ll describe, along with what to do to make sure your policy provides the coverage you need at an affordable rate. Home insurance rates are increasing because claims have substantially increased in the last five…Read more
Replacement Cost Home Insurance in Virginia
What is Replacement Cost home insurance and why is my house insured for more than the assessment? There are 3 values concerning any home in Virginia. Market Value – the amount you could sell your house for. Assessment Value – the amount the city or county charges you for tax purposes. Replacement Value – the…Read more
Home Insurance Rates Increasing
Home insurance rates continue to rise throughout the country but there’s good news. Several insurance companies have increased their discounts for package policies. If you insure your home and car with the same company chances are you will receive an even bigger discount. There are 3 major reasons insurance companies want package policies instead of…Read more