When you are flooded, read the fine print of your insurance plan.
By Pat Mertz Esswein, kiplinger.com
Water damage accounted for about one-fifth of all insurance claims in 2007, says the Insurance Information Institute, with an average amount of $5,531. But think twice before submitting a water-related claim, which insurers say may reflect poor home maintenance and better odds that you'll eventually file even bigger claims for mold-related expenses.Depending on your insurer, filing two water-related claims within a five-year period could earn you a premium hike at renewal time or get you dropped altogether. It could also make it harder to find a new policy because all insurers consult a giant database called the Comprehensive Loss Underwriting Exchange, or CLUE, which records all claims against a property over a seven-year period. It might be cheaper to write a check from your emergency fund or take a small loan. Read more...
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4 Things First-Time Homebuyers Need to Know About Home Inspections |
RISMEDIA, April 21, 2010 -
A professional home inspection can not only provide a great education about the home’s systems, but also be a crucial tool in negotiating the most equitable price on the home, according to HouseMaster, one of the first and largest home inspection franchisors in North America. "Our experience and research shows that approximately 40% of resale homes have at least one defect that can cost a home buyer a minimum of $500 to repair," ... Read More
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