Though the results are worth it, home remodeling construction is usually a messy and disruptive process with lots of heavy equipment, sharp tools, and other potential dangers. Don't put your home improvement efforts and resources at risk: when undertaking a remodeling project, make sure that the house, the contractor and the subcontractors have adequate insurance coverage.
Mold is destructive to your home and possessions—and the damage it causes generally isn't covered by homeowners insurance. Learn how to defend your home against mold.
Burglars won't find your home an easy target if it's well lit and features security measures that slow them down. Don't let your home be an easy mark for theft and vandalism. Protect yourself and your belongings—and save on insurance premiums—by employing commonsense safety precautions.
Millions of Americans safely enjoy outdoor barbecues, but accidents do happen. Ensure trouble-free summer cooking fun by maintaining your grill, using it safely and knowing what to do in case of emergency.
Much of North America experiences periods of severely cold weather and is susceptible to snow and ice storms—extreme conditions that can inflict considerable damage on homes and create liability risks. Standard homeowners policies will cover most disasters that result from a freeze—but when the weather outside is frightful, it's better to minimize the potential risks. Here's how.
Lightning can cause damage to your home and belongings—and can cause bodily harm. It's prudent to take steps to prevent the dangerous effects of lightning and to keep yourself and your family safe. Here are some things you can do.
If your home was destroyed by a hurricane, wildfire or other disaster, be cautious.
Unfortunately, there are dishonest service providers that prey on disaster victims. They know that people who have lost their homes and valuables may not be thinking clearly. If you have suffered this type of loss, don’t make any rash decisions. Talk to your insurance agent, who may recommend service providers in your area.
Here are some basic guidelines for hiring service providers.
A public adjuster is an independent insurance professional that a policyholder may hire to help settle an insurance claim on his or her behalf.
Your insurance company provides an adjuster at no charge to you, while a public adjuster has no relationship with your insurance company, and charges a fee of up to 15 percent of the insurance settlement for his or her services. Note that while a public adjuster can assist with the claims process, he or she cannot get you more money than you are entitled to under your insurance policy.
The settlement amount depends on which type of policy you have. Having inadequate insurance can affect the amount of compensation you get.
Replacement Cost and Actual Cash Value
Replacement cost provides you with the dollar amount needed to replace a damaged item with one of similar kind and quality without deducting for depreciation—the decrease in value due to age, obsolescence, wear and tear and other factors. An actual cash value policy pays you the amount needed to replace the item minus depreciation.
If disaster strikes, you'll want enough homeowners insurance to rebuild the structure of your home, to help replace your belongings, to defray costs if you're unable to live in your home and to protect your financial assets in the event of liability to others. Use these guidelines to help determine the coverage and amounts you need.