Is it time for a Home Insurance check-up?

Your home is perhaps your most cherished and largest investment, so naturally you want to have financial protection in case something happens to your property or its contents. To offset these costs, you purchase homeowners insurance. But when was the last time you reviewed your policy to make sure that your coverage was up-to-date? If your answer is “when I purchased my home five years ago,” it’s definitely time to take another look at your policy.

Ideally, your homeowners insurance policy should be evaluated once a year, and sooner if you’ve completed major work to your home or have a life event such as marriage, new baby or divorce. This review will help guard against you being under- or over-insured. Below are some situations that will illustrate why it is important to make sure that your homeowners insurance is current.

Remodeling


Have you added on a room or made significant upgrades to an existing room in your home? What about structures outside your home such as a hot tub or gazebo? These improvements, undoubtedly, have increased the value of your home. When you purchased your homeowners policy, your coverage was based on the value of your property at that time. If there is damage to your home, you want to make sure that those areas are covered as well.

Safety Upgrades


Did you know most insurance companies give discounts for features that increase the safety of your home? If you’ve installed items such as fire sprinklers, central home security system, smoke detectors, deadbolt locks or even added an upgraded electrical system, you could possibly reduce your premium.

Personal Property


Besides structural coverage, most standard homeowners insurance policies include personal property coverage. Usually there is a percentage or dollar limit on the amount protected.

Take a home inventory. Are your current limits sufficient? If you’ve purchased high-ticket items such as computers, jewelry, and artwork, you may need to get additional coverage. Talk with your insurance agent to decide if you should increase your limits or purchase an endorsement/rider, which will give you higher and broader coverage than you have under your homeowners policy.

Life Events


Different life events can affect your coverage. For example, if you get married and your spouse moves into your home, you will need to make sure that there is enough coverage for your combined assets and even all of the wedding gifts you received. On the other hand, if you divorce, you may be able to decrease your personal property limits.

Deductible


Are your deductibles still relevant? Based on your current financial situation, you may want to adjust them. A higher deductible lowers your premium and increases the amount you will pay toward a loss.
Because the mortgage lender often pays insurance premiums, it is easy to overlook your insurance coverage. However as the homeowner, make it a priority to review your policy periodically and make changes as needed. That way if damage or loss does occur to your home or its contents, you are adequately insured. Speak with your insurance agent, who can give you more in-depth information and explain your policy to you.

 

Picayune Insurance Companies:

Allstate – 915 Hwy 43 North, Picayune MS – 601-798-7005

Farm Bureau – 6361 Hwy 11 North, Picayune MS – 601-798-2861

State Farm – 1817-B Hwy 11 North, Picayune MS – 601-798-4082

You’ve Got The Keys, Now It’s Time To Settle In, Improve, And Maintain

You might not realize it, but qualifying for a home loan, making an offer, and signing documents at the closing are only part of the home ownership process. Once you receive the keys to your new home, there are still steps you need to take before truly calling your house home.
Settling In
The most obvious step you’ll take next is packing and moving your household contents. If you plan on hiring a professional, check with your real estate representative to see if he or she knows a reliable mover.  Once you’ve moved in, one of the first things you want to do is change the lock on all entry doors. This ensures that only your household has access to your home.  You’ll also want to make arrangements for special services such as paper delivery, cable and high-speed Internet service, and garbage and/or recycling pickup.  Get to know your neighborhood. Introduce yourself to your neighbors. They can give you inside information such as babysitters, names of contractors and more. Take a tour of your new neighborhood. Locate the nearest fire and police stations, as well as hospital. This will also give you an opportunity to find the closest grocery store, gas station, parks, etc.
Organizing
Next up is making sure that all of your documents are in order and that others know where you are.  At your closing, you more than likely were given a copy of your settlement papers. Make sure that you file them away somewhere that is easily accessible for tax time. Or, keep them with your other tax records. Next, don’t forget to finish sending out your change of address to family, friends, magazines, and organizations that may not have been a part of your primary group. Notify the Internal Revenue Service of your change of address. You can download Form 8822 from the website www.irs.gov or call (800) TAX-FORM (829-3676) to order the form by phone.
With a change in your address, there are other documents that need to be changed as well such as auto registration, driver’s license, and voter registration. Check with your state organizations to see what the procedure is. Also, don’t forget to notify your insurance agent of your change of address so that your policies remain up-to-date.
Improve and Maintain
After you’ve unpacked your boxes, it’s time to get to know your home. Locate your smoke detectors, furnace and switch or fuse box. Go room to room and make an improvement checklist such as new carpeting, window dressing or painting. Note regular maintenance that will be required such as cleaning water drains and replacing air filters and batteries in smoke detectors.  After you’ve completed an inventory, you may decide that you want to hire contractors to help with decorating needs. You may even decide that you want to hire a home cleaning or lawn care service. Your real estate professional is a good source for getting reliable recommendations.
There is much to do when you move into a new home. However once you’ve unpacked the last box, painted the final room, and all your services are running smoothly, you can sit back in your favorite lounging chair and enjoy the benefits of home ownership.

Tricks to Keep Your House Cool this Summer

By Paige Tepping

RISMEDIA, June 17, 2010–As the temperatures continue to rise this summer, so does the cost of keeping your home cool. While homeowners across the country come to depend on air conditioners to keep the temperature down during the warm summer months, there are other options that will keep you cool while keeping your energy bill low.

Fans and ceiling fans
-If you’re looking for ways to beat the heat, a ceiling fan can be a great investment for your home. This one appliance can make a room feel 6 or 7 degrees cooler, and even the most power-hungry fan costs less than $10 a month to use if you keep it on for 12 hours a day. Good fans make it possible for you to raise your thermostat setting and save on air-conditioning costs. Fans don’t use much energy, but when air is circulating, it feels much cooler. Ceiling fans are best, but a good portable fan can be very effective as well.

-You should remember that even mild air movement of 1 mph can make you feel three or four degrees cooler. Also, make sure your ceiling fan is turned for summer – you should feel the air blown downward.

Shades, drapes or blinds
-Install white window shades, drapes or blinds to reflect heat away from the house. Close blinds, shades and draperies facing the sun (east-facing windows in the morning and west-facing windows in the afternoon) to keep the sun’s heat out and help fans or air conditioners cool more efficiently. Always remember that the best way to keep your home cool is to keep the heat out.

Internal Heat
-The most common sources of internal heat gain are; appliances, electronic devices and lighting. Be aware of devices in your home that are generating heat and if you have air conditioning, use it wisely.

Don’t put lamps, televisions or other heat-generating appliances next to your air-conditioning thermostat, because the heat from these appliances will cause the air conditioner to run longer. The heat they produce will make the thermostat think your house is warmer than it really is, and your system will run harder than it needs to.

-Unless you absolutely need them, turn off incandescent lights and heat-generating appliances. Replace incandescent bulbs with compact fluorescents; they produce the same light but use a fifth the energy and heat.

-You should also try to avoid heat-generating activities such as cooking on hot days or during the hottest part of the day. If you are cooking, use your range fan to vent the hot air out of your house. By reducing the amount of heat in your home, you will use less energy to cool it.

Plants
-Plant trees or shrubs to shade air conditioning units, but not block the airflow. A unit operating in the shade uses less electricity. Deciduous trees planted on the south and west sides will keep your house cool in the summer and allow the sunlight to warm the house during the winter.

Roof and Walls
-Paint your roof white – If you’ve got a flat roof, paint it with a specially formulated reflective paint or just paint it white. The reflective effect will help to keep the rooms under the flat roof much cooler.

Other things to remember
-Humidity makes room air feel warmer, so reduce indoor humidity. Minimize mid-day washing and drying clothes, showering and cooking. When you must do these things, turn on ventilating fans to help extract warm, moist air.

-Avoid landscaping with lots of unshaded rock, cement, or asphalt on the south or west sides of your home because it increases the temperature around the house and radiates heat to the house after the sun has set.

-If the attic isn’t already insulated or is under-insulated, insulate it now. Upgrading from 3 inches to 12 inches can cut cooling costs by 10%.

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