Water damage, combined with freezing, represents the second most common cause of home insurance claims, following wind or hail damage. According to the Insurance Information Institute, the average loss of such claims was roughly $14,000 between 2018 and 2022. Adding…
If your home undergoes major damage from an insured peril, filing a claim against your homeowners insurance policy is a no-brainer. But what if the potential loss is smaller? Is it worth filing a claim? Will a smaller claim, or…
Do you have an up-to-date home inventory? If not, you’re not alone: According to a 2023 Insurance Information Institute (III)/Munich Re Consumer Survey, only 47% of homeowners reported having such an inventory. All homeowners should have this important tool, for…
Recent reports from the FBI and the Council on Criminal Justice (CCJ) indicate that home burglary rates have dropped in the United States. The FBI Crime Data Explorer shows a 7.6% decrease in burglary for 2023 vs. 2022. The CCJ’s…
What is considered Other Structures on homeowner’s insurance? You’d expect homeowner’s insurance to cover your home from damage, theft and liability. And it does. Your homeowner’s insurance can also offer protection for Other Structures, which include more than guest houses…
When should you contact your insurance agent/broker or insurance company? Of course, you need to contact them to file a claim or when an event may lead to a claim. There are also many times that you might not think…
Paid off your mortgage? Congratulations! Your monthly mortgage payment probably included extra funds for property taxes and insurance. Of course, you’ll still have to pay taxes. But now that you don’t have a lender requiring insurance, can you drop your…
If you’ve ever purchased—or simply researched—property insurance, you’ve likely encountered the terms “contents” and “structures” coverage. In a nutshell, “structures” refers to the insured building and other structures, and “contents” refers to what’s inside. But this is insurance—no answer is…
You may not have considered homeowner’s insurance policy gaps. You own a home. You buy homeowners insurance. Simple, right? Not always. There are a number of situations a standard homeowner’s policy doesn’t cover. Understand the gaps in a standard policy…
It isn’t just sharp knives and overindulgence in cooking wine that makes kitchens dangerous places. According to the National Fire Protection Association (NFPA), cooking fires are the leading cause of home fires and home injuries. From 2017-2021, the organization reported,…