Surprising Facts About Flood Insurance

April 28th, 2017 Categories: Random Thoughts

Myth #1: Hurricanes, not floods, are the No. 1 natural disaster and cause the biggest economic losses in the United States.

Hurricanes grab the headlines, but because floods happen in virtually every part of the country, they cause more losses than any other type of natural disaster. Homeowners insurance doesn’t cover floods. Only flood insurance covers flood damage to your home. Read the rest of this entry »

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What You Need to Know About Excess Flood Insurance

April 26th, 2017 Categories: Random Thoughts

Most homeowners who need flood insurance buy it from the federal government’s National Flood Insurance Program. But NFIP policies max out at $250,000. If your lender wants you to have insurance coverage beyond that, you have to purchase at least some of your flood insurance in the private sector. Read the rest of this entry »

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Are You Prepared to Evacuate in an Emergency?

April 22nd, 2017 Categories: Random Thoughts

If there comes a time when you have to abandon your house, an emergency probably won’t give you enough time to gather essentials and take steps to limit property damage.

Getting all of your ducks in a row before disaster strikes is the best course of action. Read the rest of this entry »

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Big Flood Insurance Price Hikes Rescinded

April 11th, 2017 Categories: Random Thoughts

Imagine getting an annual insurance bill in the mail that rose from a few thousand dollars to tens of thousands of dollars. That’s what happened to some homeowners across the country after Congress passed flood insurance reform legislation two years ago that raised premiums by more than 25% in a single year.  Read the rest of this entry »

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What’s Covered by Umbrella Insurance?

March 20th, 2017 Categories: Random Thoughts

Homeowners insurance protects you if, say, a fire burns your house to the ground. That’s a start. But you also need to think about protecting your home against something equally dangerous: a lawsuit. If a houseguest slips in the bathtub, you could get sued. Lose the lawsuit and you could lose all of your assets, including your home. Read the rest of this entry »

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Homeowners Insurance: Time for an Annual Check-Up

February 15th, 2017 Categories: Random Thoughts

It’s time for your annual check-up. The good news is that for this one, you won’t have to don one of those revealing hospital gowns — and you may walk away with a healthier pocketbook. Read the rest of this entry »

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