Home Owners Archives - Your Family Finances

What Homeowners Need to Know about Florida’s Property Insurance Crisis

Florida homeowners are facing a significant challenge with the ongoing property insurance crisis. Over the past few years, this issue has spiraled, leaving homeowners concerned not only about the rising costs of insuring their properties but also about the overall stability of the housing market in the Sunshine State. As insurance companies pull out of […]

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Finding Your Way: Navigating Insurance Coverage For Flood Recovery

Home Owners / By Tim McMahon

Dealing with flood damage can be an overwhelming experience, both emotionally and financially. It’s a time when understanding your insurance coverage and how to effectively file a claim can make a significant difference in your path to recovery. In this guide, we aim to arm you with the essential knowledge and tips to navigate the complexities of insurance claims and coverage for flood damage. This guide is designed to walk you through every step, ensuring you make informed decisions that lead to a smoother and more efficient recovery process.

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Budgeting for Insurances When You Live Near Natural Disasters

Budgeting for Insurance When You Live Near Natural Disasters

Home Owners / By Tim McMahon

Living near natural disaster-prone areas brings both the beauty of nature and the potential risks that come with it. As a homeowner, it’s crucial to safeguard your property and loved ones by having the right insurance coverage. In this blog post, we’ll explore the importance of budgeting for insurance when you live near natural disasters. So, let’s dive in and ensure you have the necessary protection in place.

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The Advantages of Home Owner’s Insurance

Home Owners / By Guest Author

As a homeowner, you understand the importance of protecting your property. You’ve put countless hours and effort into creating a beautiful and comfortable home—a place for you and your family to live. However, no matter how much time and energy you’ve put into making your house a home, accidents can still happen. That’s why home insurance is so vital. It’s not just about recovering financial losses, but also about securing peace of mind, knowing that your haven is safeguarded against unexpected calamities. Of course, if you have a mortgage, the lender will mandate that you have adequate insurance to cover their investment in your home.

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Protect Your Home with Home Insurance

Home Owners / By Tim McMahon

As a homeowner, you know just how important it is to protect and secure your home. That’s why having the right type of home insurance can make all the difference. With a wide range of policies available from different providers, it’s easy to find coverage that will meet your specific needs – but with so many different options out there, where do you start? In this blog post, we’ll look into the basics of home insurance and provide tips on what to consider when choosing a plan that best suits your situation. Get ready to feel more at ease knowing you and your family are properly safeguarded against life’s surprises!

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Reassessing Your Insurance Coverage: Are You Protected in Case of an Emergency?

Home Owners / By Guest Author

Most people would be surprised by all the things that their insurance policies don’t cover. If it’s been a while since you’ve updated your insurance, you might want to take a few moments to reassess that coverage. After all, it’s vital that you know whether you are protected in case of an emergency.

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Major Systems to Beware of When Buying a Home

Home Owners / By Tim McMahon

There is nothing worse than buying a home and then shortly thereafter being hit with a huge repair bill. That is why some buyers offer an included home maintenance insurance contract. This may be a good idea when buying an older home but even they are often inconvenient to deal with. A perfect example is my daughter who purchased a home with a “warranty” and shortly thereafter her HVAC system stopped cooling. So she called the warranty company and they eventually sent out a repair person. Two weeks later it isn’t working again, so after another couple of weeks another repair person arrives and this goes on for a couple of months until eventually, they ended up making a major repair (after many threats from my son-in-law). The problem is the warrantee company hires the cheapest labor and only authorizes the minimum of repairs. If you were hiring the contractor you would look for quality workmanship and buyer satisfaction… but that is not their priority.

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How Families Can Get the Most Out of Roofing Insurance After a Disaster

Home Owners / By Guest Author

When a natural disaster strikes, often one of the first parts of your home to sustain damage is your roof. Fortunately, most good insurance policies will pay to fix the damage to your roof so that you can restore it as quickly as possible. It’s important, though, that you understand the proper steps to take so that you get the most out of your insurance policy. Here are a few ways to get the best payout for roofing services after a disaster.

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4 Signs You’re Financially Ready to Buy a Home

Home Owners / By Guest Author

The cost of getting into single family homes is significantly higher than the cost of getting into a rental of any sort. Sure, you may have to pay first month’s rent plus a deposit. The cost of this may even be a couple of thousand dollars. However, the cost of the down payment for a home is significantly higher, usually 20% at least. To put that into perspective, that’s $30,000 down on a $150,000 house.

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What You Need to Know about Different Types of Homeowners Insurance

Home Owners / By Guest Author

Homeowners typically have two options when choosing the amount and level of protection of their insurance policy. There’s ACV or actual cash value and RCV or replacement cost value. ACV will reimburse you based on the initial cost of your home, depreciation considered, which means the insurance coverage may decrease over time. RCV, on the other hand, insures your home for its current market value, regardless of any potential depreciation.

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Cutting Your Home Insurance Bill: Three Secrets That Can Save You A Bundle

Home Owners / By Tim McMahon

Every year, Americans are paying more than they need to on their home insurance. Your home is one of your most prized possessions. Therefore, it is only natural for you to take steps to protect it. Protection for your home comes in the form of homeowners insurance. However, Premiums on home insurance have risen over 50 percent in the last ten years. Currently, the average insurance premium for homes in the United states stands at $1083 annually and can rise as high as $2,024 in some states. If you are one of the many homeowners looking to slash their insurance bill for the next year, take a look at these simple tips.

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Hurricane! How to Get Compensation after Significant Home Damage

1 Comment / Home Owners / By Tim McMahon

Hopefully, you’ve survived the recent hurricanes without incident, but with so many people suffering damage from Hurricanes Harvey and Irma you might be wondering how to get compensated if you suffer damage. For instance, suppose you are in the situation of my neighbor David. His roof was about 20 years old and so had about 5 years of life left in it before he was going to have to replace it. But along came hurricane Irma which ripped off about a dozen shingles and created leaks and potential leaks.

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