Due to the rise of affordable smart products and the Internet of Things (IoT) in the last couple of years, it seems like almost everybody has some sort of smart technology in their home. Although the actual number of users is more like 1 in 6, the conversation about smart homes has turned mainstream.
When it comes to safety, however, don’t expect your Google Home, Amazon Echo, or Apple HomePod to notify you of a damaging situation on its own. But when these devices are connected to other technologies, the possibilities are endless. And so are the potential effects that technology could have on your homeowners’ insurance policy.
Picture this. You’ve [...]
You’ve recently spent hours researching and reviewing a variety of insurance companies to protect your home and belongings, you’ve agonized over the different policies, and you’ve taken the plunge to sign up for coverage. It can be a grueling task, but it’s a wonderful step you’ve taken to safeguard your family with homeowner’s or renter’s insurance. Take a moment to enjoy a job well done, but don’t get too comfortable! There’s an important next step to take to make sure that your insurance provides all the protection it can for your family.
All insurance policies should cover the contents of your home or apartment, to provide you with [...]
Most of us are familiar with the concept of homeowners’ insurance – insurance policies that generally cover repairs or replacement of the house itself and some or all of its contents. Mortgage companies require homeowners’ insurance to protect their investments in case something happens to your structure. But fewer people know about or get renters’ insurance, although more of the larger property management companies now require it to help protect them from liabilities that might be caused by the renters themselves. Renters’ insurance is like a homeowners’ policy in that it covers personal property owned by the tenant, but does not usually provide [...]
The fact is – any property can flood. Your home doesn’t have to be under five feet of water from hurricane flood surges to suffer flood damage. Normal amounts of rainwater can drain under your home, and flood your basement or the lowest floor level, causing flood damage. This kind of flooding can cause mold, increase the risk of termites and cause electrical problems.
More than 75% of homeowners devastated by flooding unfortunately discover they should have had flood insurance. The sad thing, experts say, is that flood insurance is not that expensive – typically $450 to $600 a year for the average home. When you weigh the cost of flood insurance against replacing [...]
The homeowners insurance industry has a rich history that is continuously evolving. From the time the first policy came about in the 1730s until now, the market has greatly changed, becoming increasingly detailed and more focused on data and risk mitigation.The Beginning of Homeowners Insurance
The initial homeowner insurance policies created were simple and protected against the most basic of elements: fire.
In the 1730s, the first fire insurance policy was underwritten in the United States. Twenty years later, Benjamin Franklin’s Philadelphia Contributionship was the first insurer to underwrite fire protection for its customers. The initial government [...]
As the last of Hurricane Harvey’s rains pelt an already waterlogged Houston and its surrounding communities, homeowners are no doubt taking the first steps in filing insurance claims on their damaged homes and property. Exactly how homeowners should navigate this claims process is information that’s more pertinent now than ever, so we’ve reached out to experts to find out five solid tips you should keep in mind as you begin the claims process.Your Insurance Agent Should Be Your First Call
Lisa Lindsay has been in the insurance industry for more than three decades and she’s the executive director of Private Risk Management Association, a collaborative [...]
Insurance is paramount for homeowners because it allows you to protect your residence and personal belongings against natural disasters, theft and other risks. At the same time, homeowners insurance can be a tricky topic for first- and long-time property owners alike. If you don’t purchase the right coverage, you may put your home and personal belongings in danger.
Ultimately, homeowners insurance can raise many questions for property owners. Lucky for you, we’re here to help you find affordable homeowners insurance that matches or exceeds your expectations. Now, let’s take a look at five questions that every homeowner needs to ask their insurance [...]
Evaluating risk remains an ongoing challenge for many homeowners. Ultimately, homeowners are responsible for safeguarding their property and family members against a wide range of potential dangers. Home insurance offers a package policy, but if you fail to add the right coverage, you may be putting your property and family members in a precarious position.
The Insurance Information Institute (III) points out that a typical home insurance policy offers coverage in four areas:Home Structure: Protects a homeowner against property damage or destruction due to a fire, hurricane or other disasters. Personal Belongings: Covers a homeowner for the costs to replace any [...]