How Guaranteed Replacement Cost Works in Homeowners Insurance

When you bought a home, you undoubtedly purchased insurance to protect that investment. Most homeowner’s policies are similar in how they calculate coverage amounts, what types of events and damages are covered or excluded, and how they shield owners against liability. However, there are some things you need to watch out for, especially if it has been a while since your purchase. One of those is the use of guaranteed replacement cost in insurance and how it can help you recover after a catastrophic loss.

What Is Guaranteed Replacement Cost?

A homeowner’s policy limits can be based on several factors: The purchase price, market value, mortgage value and replacement cost are common valuation methods. However, if a structure is completely destroyed, the actual cost to rebuild may go beyond those stated limits. Increased demand for supplies and labor after a major disaster are perfect examples of what can drive construction costs up. This may leave you with a gap between what your policy will pay and what it will cost to rebuild. Guaranteed replacement cost enhances a policy to fill that gap.

What Benefits Does It Provide?

In addition to paying above policy limits, there are a few other advantages to guaranteed replacement costs endorsements. For example, it covers updates to bring your home into compliance with building codes that have been enacted since your home was built. It is also generally more affordable than directly increasing coverage limits.

Guaranteed replacement cost is one tool that homeowners can use to protect their investment. Talk to your agent about whether it is a good choice for your policy.

Fall Leaves, Cleaning and CT Home Insurance

Now that summer is just a memory and fall is in full swing, residents in Connecticut know that the time has come to prepare for the coming winter months. Many people enjoy the fall, the changing of weather, leaves falling and turning different colors and the cool evening breeze, a favorite time of the year for many to spend time outdoors.

Now is also a good time to prepare the house for the coming months and this generally includes a few routine home maintenance steps to ensure that the house is ready to embrace increasing cold weather, and the possibility of snowfall. For new and old homeowners, this is perhaps the best time to make sure to get ct home insurance that is up to date in case there is a need for any costly repairs.

Clean house gutters and replace any damaged or missing shingles

While it may not have rained for some time in your area it still makes good sense to make sure your gutters are cleared out. As the leaves begin falling make this a regular routine, because any overflowing water from clogged gutters can cause damage to the roof and also lead to cracks in your home’s foundation.

Check the roof carefully because cracked, broken or missing shingles can eventually expose the house to the harsh elements. Nothing will dampen your mood more than a leaky roof, plus this is the type of preventive maintenance that really pays off in the long run.

Trim trees and bushes near the house and have a professional check the furnace

Allowing trees and bushes to grow too close to the house can lead to serious water damage. Keep them trimmed, or remove them completely. This can help to avoid any costly repairs down the road. Having that furnace checked out before the weather turns ugly can help to reduce temperature variations, improve air quality in the home, and protect against carbon monoxide poisoning. Be sure to inspect smoke and carbon monoxide detectors (most run on batteries), and check them at least every six months or so.

While these aren’t the only maintenance tips to follow, this is a good place to start and can keep your home safe and secure this autumn. Speak to an agent about any ct home insurance coverage options that can possibly save you money.


Getting Useful Homeowners Insurance Quotes in CT

Homeowners insurance is one of the most crucial investments that you can ever make. The coverage provided by your policy can help in the recovery of anything from minor issues, such as vandalism or theft, to devastating concerns, like an injury resulting in a lawsuit, or major structural damage from a natural disaster, which no one can truly prepare for.

If you own a home, or are considering buying one, and are currently looking into the different types of coverage available, there are many local agencies that can help property owners get home insurance quotes in ct, along with any legal advice that might be needed.

Areas of coverage often determine what you actually need

Insurance is the best way to mitigate costs when it comes to expensive repairs, replacing lost items, and other problems you’re likely to experience at some time during the course of living in your house. For example, no one can predict when a hurricane or other natural disaster will strike which can cause insurmountable damage, but there are also less severe issues that can prove to be a costly expense.

Keep in mind that when you purchase a home, mortgage lenders will require you to buy insurance as a condition of the loan. Consider the fact that, if you own a pet or the house has a swimming pool, you’ll likely need some form of liability coverage to deal with all sorts of risks and exposures associated with pets and pools. Therefore, information on this type of coverage is of major importance to any homeowners concerned with these issues.

Homeowners insurance may be structured to cover all types of damage or losses, including structural damage to the home, other structures (i.e. sheds, detached garages), which exist on the property, any personal property (including the contents of the home or other structures), and loss of use if the property must be repaired before further occupancy.

Damage to the home can also result from fire or lightning, vehicles causing damage, vandalism and theft, explosions, windstorm or hail, and many other incidents too numerous to mention. Home insurance quotes in ct are available through the many agencies servicing the area, so speak to a reputable agent today with any questions or concerns.


Dog Bite Insurance Can Save You Money

As most dog owners fully realize, they will likely be sued if their dog ends up biting someone, especially if it leads to an injury claim. After all, these types of claims occur all of the time, and typically account for more than a third of all dog bite insurance liability claims paid out. This is according to the Insurance Information Institute (III), and they keep this type of information on record for public knowledge.

That statistic seems fairly consistent, as it has been over the last decade or so, according to III. They’ve also reported that the number of claims averages around 15,000 to 16,000 annually over that same period of time, and with the average cost of a claim running in the tens of thousands of dollars or more (due to the increase in medical costs), it’s important for all pet owners to carry dog bite insurance to aid in the costs for these injuries.

Ways to prevent dog attacks

The last thing you want is to be sued because your pet bit someone, inadvertently or otherwise. And let’s face it, no one wants to become the victim of a dog bite. Choices as to the type of dog you buy factors into this, though no one can tell you what type of dog you can own. However, proper training can really help in the prevention of dog attacks. We suggest that you have your dog spayed or neutered, and seek professional advice if your dog develops any type of aggressive behavior. Also, discouraging children from bothering your dog when it is eating or sleeping is extremely important.

Avoid becoming a victim to a dog that is a threat

To avoid becoming a potential victim, we urge others to never approach a strange dog, especially one that’s tethered on a leash. Avoid making eye contact with a dog that appears threatening, since many dogs can sense fear. You shouldn’t run past any strange dogs, so either turn and walk back the other way or cross the street.

Owners and pedestrians should keep these safety tips in mind since they can reduce the odds of a dog attack, but all dog owners need to invest in dog bite insurance. Speak to a reputable agent today and protect your many valuable assets.


Helpful Tips on Getting California Home Insurance Quotes

With the cost of everything going up these days, we are all looking for ways to save some extra money. This requires cutting out some of those things we often take for granted. While some people have done away with the morning trip to the coffee shop, others began carpooling to work to save money at the pumps.

One way to save that’s often overlooked is finding ways to reduce homeowner’s insurance premiums. This may require a little work on the part of the homeowner, but when obtaining california home insurance quotes remember that there are savings that can be obtained by making a few minor adjustments in and around your house.

Save money by raising the deductible on the house

According to the Insurance Information Institute (III), if you can afford to double your current deductible from $500 to $1000, you may save as much as 25% on your annual premium. Homeowners insurance is not intended to be used for small fix-it claims, and the benefits of a lower deductible can quickly disappear due to the increase in rates resulting from making such claims, as opposed to fixing minor issues without involving your insurer.

Save money with multiple policy discounts and adding safety features

Purchasing coverage for your home and car from the same carrier could save you up to 15% on both premiums. In addition, you can save up to 20% for additional safety features such as deadbolt locks, window locks, and alarm systems. Insurance companies highly value the protection afforded by burglar alarms and fire alarms (especially those connected to monitoring agencies such as local police and/or the fire department).

Improvements to a home can equal huge savings

A new home’s electrical, heating, and plumbing systems are likely to be in better condition than those in an older house. If making any home improvements to an older home, make sure to update the homeowner’s insurance policy accordingly.

Eliminate any coverage that isn’t needed

Ideally, a policy should cover any major purchases or additions to a home, but don’t spend money for coverage that isn’t needed. There may be appliances, electronics, and other possessions that have depreciated over time. When the time comes to compare california home insurance quotes, it’s probably a good idea to check the limits of the homeowner’s policy against the actual value of your possessions annually.

Take Precautions to Save Money on Your Home Insurance

Your home insurance in Augusta is designed to protect you in a worst-case scenario. While you may not be able to prevent a tornado or hurricane from destroying your home, you can do things to prevent other problems like robberies and water damage. It pays to check with your insurance agent to see if you can save money by taking steps in safety and maintenance in your home.

A fire extinguisher is a small investment that could easily save thousands of dollars in damage when kept in your home. Deadbolt locks are another safety feature, and they could prevent a costly break-in. Your agent will have a list of ways that offer discounts on your insurance. Taking time to make minor changes to your home could save you hundreds of dollars over the years on your premiums.

Prevent minor claims on your home insurance in Augusta by taking time to perform preventative maintenance on your home. Take care of your plumbing before it backs up and causes water damage to your floors. Watch for needed repairs around your property to prevent accidents from happening. When you file many small claims, your premiums may go up and you may jeopardize your insurability.

When you take care of your safety and the maintenance on your home, it will prevent more substantial losses down the road. Your home insurance in Augusta protects one of the largest investments you will ever make, and you need to do what you can to keep your insurance premiums affordable.


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Preparing for the Unexpected Means Arranging for Home Insurance and Much More

There are many things to consider when one has the responsibility for maintaining a house, and it’s important to be prepared for emergencies should they arise; one often has to act quickly when a situation occurs. Thankfully there’s home insurance in Augusta to take care of the physical damage that one’s home may sustain in an emergency; here are some things to think about to ensure that the people remain as safe as the property:

  • Keep some cash readily available, well hidden in the house. Include a good quantity of small bills and single dollars to make purchases easily if stores are unable to make change or lack access to electronic means of making transactions.
  • Keep a current ATM or debit card tucked in a wallet or purse at all times so it’s possible to obtain cash at an easily accessible ATM machine.
  • Memorize bank account numbers. It may be possible to withdraw much-needed funds from a branch location if one has in his or her possession a government-issued identification card along with an account number that is known by heart.
  • Store bank or credit union websites as a favorite in web browsers on laptops, tablets and smart phones. Many of these sites will use their web pages to communicate important updates and messages in the event of a disaster, including where members can find alternate branches if their usual ones are closed for an extended period of time.
  • Store important documents such as birth certificates, passports, social security cards, and insurance policies, in a secure receptacle that is both fire- and waterproof, that can be easily and quickly accessed if there’s a need to evacuate the house quickly.
  • Make copies of all these documents and send them for safekeeping to a trusted relative or friend in another city, far enough away so that it is unlikely that the disaster would have affected them. This can help tremendously if access to the original documents is blocked.

Talk to a professional insurance agent to ensure that home insurance in Augusta is up to date and coverage amounts are substantial enough to make recovering from the disaster as simple as possible.


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New Jersey Home Insurance and Occupant Changes

With so many adult children moving back in with their parents while they save money or search for better employment opportunities, it might be a good idea to look at how this may affect current New Jersey home insurance policies. Add to this the fact that rising costs in the nursing home industry has also caused many elderly people to move in with their children, simply because it is the only affordable solution.


Pew Research Center reports that in 2012, nearly 23 percent of adults’ ages 85 and older lived in a multigenerational household, and overall, 57 million US citizens (nearly a fifth of the country) lived this way as well. These “multigenerational households” may find that this arrangement affects their current homeowners policy and really need to consider the implications of this sort of living arrangement.


Speak to an agent to see what ramifications this may cause


Any changes to the number of people inhabiting a dwelling should be discussed with an insurer to make sure the needed financial protection is in place. When one or more relatives moves in, the first call to make would be to the agent who can help determine if a change in coverage is required.

Changes in personal property coverage can be an issue


Having more people living beneath one roof often means more contents to insure. In case of a fire, or other claim, make sure there is enough coverage for the additional items now located in the house. What often happens is that, after a claim is filed, it is discovered that among the items claimed are many that belonged to someone that has moved back into the home, and the additional contents in the home were more than what an average policy supports.


What many homeowners fail to realize is that there is a cap on the contents coverage on any standard insurance policy. Many insurers require an appraisal for items such as art work or jewelry that are considered high-valued items, as well as any collection of antiques or heirloom jewelry that grandparents may own and bring with them when they move in. Keep in mind that these items may be subject to an even lower policy cap, even if the total coverage is higher. Speak to an agent about New Jersey home insurance concerns whenever changes in the household occur.


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What Happens Without Homeowners Insurance?

Owning your own home is very exciting, and it can also be quite overwhelming when you start to understand the many different costs involved with it. Part of the many decisions that you will have to make involves whether or not to invest in a homeowners insurance PA policy. What happens if you choose to go without a policy? You need to understand the differences between losses and recovery.




If you choose to forego a homeowners insurance policy, you run some big risks. If anything should happen to your home or possessions, you are left with the bill and the losses. Damage and losses caused by theft, fire, floods and more are left entirely up to you. If you happen to live in an area where any of these things are likely to happen, you will want to consider how much it will cost you to cover your losses.




On the other hand, if you do have a homeowners insurance policy in place, if something untoward should happen to your home or possessions, you may be able to recover those losses through your policy. Much depends on the specific coverage you have, but you are more likely to take less of a financial loss if you have a good policy in place.


Understand the Risks


Going without a homeowners insurance PA policy is a risky game to play. Some people might think they are saving themselves the expense, but the expense of something happening to your home is much more devastating. Talk to an agent about customizing coverage for your home today.


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Autumn Cleaning and PA Homeowners Insurance

With summer quickly waning, and fall fast approaching, those in the Pennsylvania region know all too well that this is a good time to prepare for the coming winter months. Many people enjoy the fall, with the reduction of extremely hot days, and the cool evening air, fall is a favorite time for many folks to spend outdoors.


While lounging in the yard, be sure to include a few of these routine home maintenance steps to ensure that the house is ready for increasing cold weather, and the likelihood of another snowy Christmas. This is a good time to make sure that the PA homeowners insurance is up to date in case any costly repairs are needed.


  1. Clean those gutters


It may have been some time since it last rained, but it makes good sense to make sure those gutters are cleared out. As the leaves fall this should become a regular routine because any overflowing water from clogged gutters can damage the roof and lead to cracks in the home’s foundation.

  1. Replace any damaged or missing shingles


Cracked, broken or missing shingles will eventually expose the house to the elements. Nothing is more annoying than a leaky roof, and this is the type of preventive maintenance that will pay off in the long run.


  1. Trim any trees and bushes near the house


By allowing trees and bushes to grow too close to the house can lead to water damage. Keep them trimmed, or remove them completely to avoid any costly repairs down the road.

  1. Have a professional tune that furnace


Having the furnace checked out before the weather turns grim will keep smiles on the faces of loved ones. It can help to reduce temperature variations, improve air quality in the home and protect against carbon monoxide poisoning.

  1. Check smoke and carbon monoxide detectors


Most, if not all, smoke and carbon monoxide detectors run on batteries, so check them at least once every season.
In addition, put unused lawn equipment away in a safe place for next spring. Have the chimney checked by a professional chimney sweep and, if necessary, clean it to get rid of creosote, which is flammable and can be dangerous.


These aren’t the only maintenance tips to follow, but this is a good start, and can keep homes safe and secure this autumn. Speak to an agent if additional PA homeowners insurance coverage is needed for any changes that have occurred since last year.


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