by lakemen » Tue Apr 18, 2006 11:20 am
Safety for our homes is what we all desire. If you want to raise your family with security, you need to have a safe home and this is an essential part of our living. Natural disasters can have quite an impact on our homes. If we are left homeless suddenly it can be really disturbing.
You may have mortgage on your home that you need to pay. If disaster strikes, many of you may still have good insurance policies, but the money from the insurance goes in to repaying your home mortgage insurance. As a homeowner, you may have to deal with paying both your mortgage as well as bearing for the costs of rebuilding your home after a disaster. It is easy for a homeowner to break down in a situation like this.
Damage from floods can be massive. Over population of molds, algae, bacteria and other fungi can be seen in a home hit by flood. It is due to the wetness and the high humidity that these organisms grow manifold. Molds are bad for the health and some molds emit mycotoxins that are hazardous for your health. On the other hand, fungi can cause wood to become weak and hence spoil. To add to these, damages like this may not be covered under your homeowners policy since these are secondary coverage.
You may take a look at top 10 tips to revive from home disasters after your home gets hit by flood:
You may have mortgage on your home that you need to pay. If disaster strikes, many of you may still have good insurance policies, but the money from the insurance goes in to repaying your home mortgage insurance. As a homeowner, you may have to deal with paying both your mortgage as well as bearing for the costs of rebuilding your home after a disaster. It is easy for a homeowner to break down in a situation like this.
Damage from floods can be massive. Over population of molds, algae, bacteria and other fungi can be seen in a home hit by flood. It is due to the wetness and the high humidity that these organisms grow manifold. Molds are bad for the health and some molds emit mycotoxins that are hazardous for your health. On the other hand, fungi can cause wood to become weak and hence spoil. To add to these, damages like this may not be covered under your homeowners policy since these are secondary coverage.
You may take a look at top 10 tips to revive from home disasters after your home gets hit by flood:
- Clean and dry your home after the flood water recedes. Make sure not to leave any corner of your home to make it safe from wood rot.
- Disinfect your home immediately since there may be sewage water or any other biological pollutant in the water that enters your home.
- According to experts, areas that get wet from clean rain water may not need disinfecting, but should be allowed to dry before being covered or closed.
- You may contact a professional water damage restoration contractor. They have those special drying equipments that they can use to quickly dry your home.
- If you plan to do the drying yourself, wear protective clothing on your arms and legs, feet and hands as you engage yourself in the cleaning process of your home.
- If you have information that the paint on your home has lead content then it is better that you get professional help in scraping off paint as lead exposure can cause serious health hazards.
- Choose the disinfectants carefully as they can pose health problems too.
- You may use bleach solutions for disinfectants but remember these can be corrosive and can damage finishes, colors and metals.
- Remove the vinyl flooring that you may have over wood sub-floors if you see water bubble in between. If you have wooden floors, make sure to remove a board every few feet to avoid buckling.
- Check the exterior walls for any insulation. If any then remove it and spray disinfectant to kill and stop further growth of fungi.
Home insurance or homeowner's insurance is an insurance policy which covers your home, its contents and your personal belongings. It protects your home from damage caused by perils like fire and storm. It also has a liability coverage for the accidents that may take place inside the home. Home insurance insures your home, whether that is your apartment, your condominium or your house.
Posted: Sat Jun 10, 2006 09:27 am Post Subject: Standard Homeowner's Insurance policy
Four essential types of coverage provided by a standard homeowner's insurance policy. These are---
1. Coverage for the actual structure of home
2. Personal belongings coverage
3. Personal liability coverage
4. Additional living expenses
Coverage for the actual structure of home: It pays to rebuild or repair the home if damaged or destroyed by the calamities like fire, hurricane, lightning or any other disaster listed on your policy. But the standard homeowner's policy will not cover the earthquakes and floods. While purchasing home insurance it is important to calculate how much the cost to rebuild the home will be and one should have enough coverage accordingly. Almost all standard policies cover the detached structures of the home like garage, tool shed etc. These structures are covered for about 10% of the amount of the insurance on the structure of the home in general.
Personal belongings coverage: This part provides the coverage on furniture, clothing, and other personal items from the perils like theft, fire, and hurricane or from any other insured catastrophe. The coverage is about 50% to 70%.
The policy also includes off-premises coverage. Your belongings anywhere in the world are covered, provided you have mentioned those in your policy. There is a limit up to 10% of the amount of insurance for your possessions. Expensive items like ornaments are covered but there is dollar value limit if those are stolen. You have to purchase a floater to insure the items to their full values.
Personal Liability coverage: The liability coverage protects you against the lawsuits for bodily injury or property damage if you or your family members cause to others. This also provides you the cost of defending in the court up to limit of the policy that you have decided.
Liability limits starts from $100000 in general. But insurance professional generally recommends buying the coverage at least $300000. Even more coverage can be purchased. Also the umbrella or excess liability protection is available for more protection. The umbrella policy costs $200 to $350 for $1 million additional liability protection.
Additional living expenses: If you want to repair or rebuild your damaged house you need to stay elsewhere temporarily. The homeowner's policy provides the coverage, temporary housing expenses, for a set amount of time. Additional living coverage costs vary from company to company. But the coverage can be increased at the cost of extra premium.
This coverage also pays you for the rent that you collect from the rented part of your house if your home had not been destroyed.
Understanding the homeowner's insurance policy and the protection provided by it, is an essential part of owing a home. Always ask and make sure from your insurance agent or from the insurance company representatives about the amounts of protection and the types of coverage available. They can help to understand your specific needs.
Posted: Mon Apr 14, 2008 08:22 pm Post Subject: Homeowners Insurance
Home insurance is an insurance policy that provides you with financial protection against disasters and accidents that occur on your property and in your home.
Add your comment