What Homeowners’ Insurance Discounts Are You Missing?

May 7, 2013

By: Deidre Woollard 

Homeowners insurance isn’t a topic that most people like to think about except as the funny/scary ‘Mayhem’ ads for Allstate. For first-time homebuyers the prospect of adding home insurance to the other long list of costs can seem daunting. Yet homeowners’ insurance isn’t just required for your mortgage, it’s an important part of a plan to keep you and your home safe.
Generally homeowners’ insurance covers damage from fire, most storms (some insurance does not include flood damage), theft, and more.  It can also protect you in case someone is injured in your home. It is a wise investment in your financial safety.
Luckily there are some ways you can improve your home that not only may boost resale value, but can also knock a little off your homeowners’ insurance rates. Trusted Choice conducted a national survey in 2011 and found that over 34% of respondents did not know about all the homeowners insurance discounts available to them. Below are a few key areas to focus on.

1) Home Security–Those who live in a gated community may be entitled to a discount. Gated communities tend to have lower rates of theft, vandalism, and other crimes. Having a security system in place can pare as much as 15 percent off your policy depending on the provider. Dead-bolt locks can also be a discount for some providers.

2) Fire Safety–The installation of smoke detectors and carbon monoxide detectors isn’t just necessary protection for your family, it’s also something insurance underwriters smile upon. Also for fire protection, a sprinkler system, heat detectors, fire escapes and plenty of fire extinguishers are also important. And keep those flammable substances outside the home at a cool temperature to avoid overheating and fire risk.

3) Home Maintenance–You may be able to qualify for an age of wiring discount depending on how old your wiring is.  Is your roof resistant to hail? Roofing is graded as Class 1 through Class 4. Class 4 roofs are often eligible for discount.  New pipes can also qualify you for a discount. Do you have handrails installed alongside your staircases? If you have a pool is it surrounded with a fence at a gate? Safety measures also can count toward your policy. If your home was recently renovated or is newer that may entitle you to a discount. Older homes can be retrofitted with materials that make them more earthquake and weather resistant.

4) Policyholder Discounts–If you haven’t filed a home insurance claim in the last 10 years you may want to ask about a discount. Homeowners who haven’t made a claim can often get as much as a 20% reduction. If you are older and retired you may also be entitled to a discount. Bundling your home insurance with other policies can also yield a savings as can being a long-term policyholder.  Another money-saving factor you may consider is raising your deductible, which can lower your premium but make sure that in the event you need to use your insurance policy that your budget will accommodate a higher deductible.

In today’s competitive market, it’s important to shop around, because you may receive  disparate quotes on policies that offer essentially the same coverage. Check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices.
Courtney Ronan contributed to this story.

Create A Backyard Water Garden This Weekend 

By: Scott Garner

 

 

 

An outdoor water garden provides focus, beauty, and value to your home’s backyard. And while it may seem like an expensive project, it doesn’t have to be a wallet-busting proposition. You can easily create your own backyard oasis for less than $500. It won’t take long, either: by following our DIY guide, you can create a beautiful water garden over one weekend.
Tools and Materials:

• Small plastic pond or pond liner
• Shovel
• Large and small rocks
• Plants (both regular and aquatic)
• Submersible water pump
• Hose for the water pump

1) Determine Placement of the Water Garden
Ideally, the water garden’s location should be a flat, level surface somewhere near an outside power outlet. Depending on your location you choose, you may want to install a dedicated outlet for your water garden’s pump so there are no extension cords running across the surface of the ground.

2) Dig the Hole for the Water Garden
If you are using a pre-molded plastic pond, dig out the shape and depth of the pond so it can be dropped in. If you are using a pond liner, then you can make the hole as deep and wide as you like as long as the liner fits inside and overlaps the edges of the hole by a foot or two. If you are using a liner and you want a cascading effect, dig the hole so it has two layers, or depths.

3) Position the Rocks
Use the largest rocks to frame the edges of the water garden (the larger rocks will also help hold the pond liner in place if you used liner). Fill in the gaps using the smaller rocks and pebbles. If you dug a two layer hold for your liner, place large rocks along the top shelf and the bottom to hold the shape of the pond.

4) Insert the Pump and Run the Hose
Set the pump in the deepest part of the pond and run the water hose to where you want the waterfall to originate. Secure the pump in place by placing stones around it.
You can have the water stream directly out of the concealed hose and over the rocks at the highest point on the pond or you can build a unique design using terracotta pots or other items which the hose can be connected to.
Tuck the hose along the inside edge of the pond and use lightweight stones to hold it in place. Don’t use heavy stones or they may crimp the hose and stop the flow of water.

5) Fill the Pond with Water
Fill up the pond with water and plug the pump in. Once water starts flowing out of the hose, top off the pond with water.

6)  Plant the Flowers
The whole point to a water garden is to have it look like a garden, so plant your flowers, shrubs and other prized plants in strategic places around the pond. Keep in mind that they will grow, so don’t bunch too many plants in one location.

7) Insert the Aquatic Plants
Aquatic plants are plants that will grow inside your water garden and therefore, they do not need to be planted. Just place them in your pond in the place they look the best and that’s it.

Dave Donovan contributed to this post.

9 Tornado Preparation Tips for Home Owners

• Published: September 24, 2012

It’s prime tornado season. Are you ready?

    
 While tornadoes can occur in the United States during any month, weather conditions produce a peak season that runs through October. In areas of the country subject to the harshest storms, winds can far exceed those of even the strongest hurricanes, averaging between 110-205 mph.

Try these nine tips from the Hanover Insurance group to get ready:

1) Make an evacuation and communication plan so that when a tornado watch is issued, you’re ready. In many cases, you’ll have only minutes to get to a storm shelter, the basement, or to an inner windowless room or interior hall.

2) Create an emergency preparedness kit that has what you need to live in your home for awhile, even if it’s wrecked or if you’re without electricity and water. The kit should contain a week’s worth of non-perishable food, bottled water, paper plates and cups, eating utensils, medicines, first aid handbook and bandages, blanket, a radio, batteries, flashlight, soap and toiletries, bleach for disinfecting, and spare clothing. Store the kit in the basement or other safe area.

3) Have debris removal tools on hand. There may be a significant amount of debris following a tornado that will have to be moved just to exit your structure. Some of this will be splintered wood and glass. With this in mind, store helpful items — including heavy soled shoes, gloves, eye protection, and a small shovel to safely move debris. This should be kept in the same area as your survival kit.

4) Create a home inventory. Tornadoes can destroy your home and its contents. A proper home inventory helps you document and value your possessions. Photograph or shoot video of your entire home or business, including the contents of each room, and store these with a written inventory and serial numbers in a fireproof safe or safe deposit box. Automate the process using a free online inventory tool available at www.hanover.com.

5) Make sure you’re not over- or underinsured. It is always a good idea to review your home owners policy with your independent insurance agent, ensuring you have enough coverage for your contents and the physical structure as well. Also ask about other coverage that may be of value to you in the event of a tornado loss, such as reimbursement for temporary living expenses.

6) Create and share contact info. All family members should have the personal and business contact information (phone/email) for quick communications. Also ensure you have your agent and insurer’s claims office numbers stored in your mobile phone. After a storm, cell service may be more accessible than local land lines. Have important numbers on hand to help expedite your recovery after the storm.

7) Wait for official notice before returning home. If there is an evacuation after a storm, wait for official notice that it is safe to return to your home. When returning to your home, be cautious when entering a damaged structure. Stay away from damaged or weakened walls.

8) Take photographs and/or video documenting claim damage. Should your home or business be damaged in a tornado, take pictures of the entire scene and document all damage — provided it is safe. Try not to remove items until an insurance adjuster has had an opportunity to visit the property and assess the damage, but do what you need to do to protect your home from further damage, like putting a tarp over holes in your roof.

9) Keep an accurate record of any temporary repairs or expenses. If you do need to make temporary repairs to help preserve the remains of your home or personal property, keep all records to ensure that they may be considered in your claim.
Source: Hanover Insurance Group, Inc.

Read more: http://www.houselogic.com/news/tornadoes-severe-storms/9-tornado-preparation-tips-home-owners/#ixzz2SjZjzkLf