Category Archives for Home Insurance
Insurance and Your Home Get Together
Are you hosting a family reunion or neighborhood party at your house or perhaps an apartment? Before you have that big event in your home, it’s wise in this litigious age to ensure you are protected.
You need to know what your homeowner’s or renter’s insurance policy covers if a guest is injured. You should also know what is covered if your guest damages your property.
We all have that one uncle who drinks a little too much at Thanksgiving and then stumbles into something valuable and breaks it. It would be unfortunate if you were under the impression that your insurance policy covered such incidents when they were not.
Here are some things you will want to ensure are in your homeowner’s or renter’s insurance policy.
How to Deal with Injuries to Guests at Your Party
Be Proactive
- The first way to deal with injuries to your guests at your party is to prevent them. Here are some things to look for in your home:
- Ensure the carpet or rugs are not bunched up where someone could trip.
- Coil up any garden hoses so they will not become a trip hazard.
- Mow your lawn so there are no holes or trip hazards hidden by tall grass.
- Make sure guests are not walking across a slippery surface.
- Remove any objects with sharp edges or points that could cut or bruise a guest.
- Make sure smoke and carbon monoxide detectors are used and have fresh batteries.
- Be aware of impending severe weather that may make driving home unsafe for your guests. End the party early to ensure guests can go home safely if necessary.
- Don’t allow too many guests on a small balcony at one time.
- Ensure that furniture for the party, such as folding chairs are sturdy and won’t break under the weight of a guest.
- Ensure the food being served is not undercooked or has been left out too long.
- If alcohol is being served, make sure everyone drinking has a designated driver and knows when to cut someone off. If a guest has been drinking and does not have a designated driver, offer to drive them home or call a cab or Uber.
- Stop serving alcohol at least an hour before the party ends.
When an Injury to a Guest Happens
If an accident happens, take these steps:
- Deal with the injury first. If it is severe, call 911.
- Make sure other guests are uninjured.
- Take pictures of the wound with a smartphone or digital camera.
- Quickly report the incident to the insurance company and include the names and contact information of the guest who witnessed the incident.
- If you can, preserve the scene for the insurance company to look at firsthand. If you cannot take multiple pictures from numerous angles and distances.
When Damage to Your Home or Property Occurs
If the structure of your home or apartment is damaged or any of the property inside of it, take the following steps.
- Take pictures with a smartphone or digital camera.
- Call the insurance company to see if the damage is covered.
- Just like the recommendation for an injured guest, if possible, preserve the scene for the insurance company to come and survey. As with an injured guest, if you cannot persevere to the location where the damage occurred, take multiple pictures from numerous angles and distances.
If you have made your home safe and know what your policy covers, you can rest easy when guests arrive at your party that you are prepared.
If you have any questions about Homeowners Insurance, contact us via email or at (863) 646-LOCK.
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What You Should Know Before You Buy a Fixer Upper
In the Lakeland and Plant City areas, many homes have crossed the century mark. These beautiful old southern homes can be enticing, but restoring them can have hidden costs. Several factors should be considered before taking on a fixer-upper; do-it-yourself, or contracted home renovation.
Is it Right for You?
A lower-priced listing on a two-story Victorian home can be tempting. Restoring a fixer-upper and increasing its value is an excellent way to increase your net worth. But do you know what’s involved? Renovating a home takes time, effort, and capital. The size of a renovation will dictate how long it takes; a fixer-upper can take up to a year to finish. As the home is worked on, there will be hammers hammering, saws cutting, voices shouting, and footsteps on the roof.
If this sounds like too much of a disruption for your family, you should avoid taking on the project. However, if you can take the bang and clatter of renovation, it can be rewarding both personally and financially.
Searching for a Home to Renovate
Where to Buy
The saying “location, location, location” carries just as much weight now as it did a century ago. You want to find a fixer-upper to restore in an area where real estate prices are upswing, not the opposite. Factors like crime rates, school ratings, and undesirable things like liquor stores or strip clubs should all be considered before deciding.
Timeworn or Trashed?
The condition of the home you are going to purchase makes a difference in the success of its renovation. It is weathered and only needs a coat of paint and new shingles. Did termites ravage it? Did squatters use it as a drug den before it was put up for sale?
The difference between cosmetic repairs and replacing 70% of the structure can mean thousands of dollars more. Electric wiring should be considered the cost if the home is over 50 years old. Fuse boxes and old wiring can’t handle the load that today’s electronics and appliances put on them and will have to be replaced.
Floor Plans
Do you want a 19th or 20th-century floorplan in the 21st century? Do you like the charm of a room centered around a fireplace, or do you like wide-open areas where a high-definition TV is the center of attention? If the latter is the case, support walls in an older home may not be able to be knocked out for expansion. Air conditioning may not flow well in a house that was never intended to have it. Ensure the layout gives you enough square footage for your family to live comfortably. Lifestyle is a significant point to consider when deciding to live in a home that has existed since the Civil War.
The Cost of Renovation
Before restoring an old home, you should create a realistic budget. Make sure there are allocations for the cost of unforeseen issues. This will save you from going over budget. Here are a few of the things to consider in your budget:
- Replacing the roof.
- Patching and painting walls.
- Refinishing or replacing old flooring.
- Repairing foundations.
- Putting in tile or removing the carpet.
- Installing new plumbing or sewer lines.
- Replacing light fixtures and switches.
- Replacing doors.
- Fixing or replacing air conditioning.
- Painting the exterior of the home.
- Replacement windows.
- Repairing or replacing the bathroom.
Remember to shop for the best financing on your home or seek a Federal Housing Administration 203k loan which lets borrowers purchase a property and finance the renovation cost. Once you have received funding, don’t gold-plate your renovation project. Don’t add a new wing or an addition that will put you over budget and ruin the aesthetics of a home.
Saving a piece of history by renovating a home can be a rewarding experience; just be sure it is an experience you are prepared to have.
If you have any questions about Homeowners Insurance regarding older homes, contact us via email or at (863) 646-LOCK.
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Simple Ways to Deter Burglars from Breaking into Your Home
Do you live in an area where crime is on the rise? If you live in Lakeland, the answer is yes. According to the FBI, property crimes in 2017 were 48% higher in Lakeland than the rest of Florida and 58% higher than the national average. You’ve worked hard to purchase and furnish your home; you need to protect your investments. With that idea in mind, here are some tips on protecting your home from would-be burglars.
Secure Means Safe
A recent study at the University of North Carolina’s criminology department found that burglars avoid homes with security systems or that they believe have security systems. If the robber sees multiple cameras from various angles, they know there is a greater chance the authorities will apprehend them. A home security system can give you peace of mind and sometimes bring discounts on your homeowner’s insurance.
If you don’t want to spend the money on a home security system, signs and decals placed around the home can act as a deterrent, but experienced crooks may not fall for the ruse. Remember, most burglaries occur between two and three in the afternoon when most homes are empty. Be sure that if you decide to install a security system, it not only alerts the police but you as well.
Home Security Technology
Many new “doorbell” type security systems have speakers that allow you via your smartphone to warn encroaching burglars that you know the situation and that the police are on the way. Motion-activated lighting on the exterior of your home is another simple way to deter burglars. Experienced burglars may spot motion-activated lights and know how to get around them. Still, given the choice of a home with motion-activated lights, or a neighbor’s house without them, criminals will usually avoid a home with sunlight.
Ensure that your home has secure locks that cannot be easily picked; this in and of itself can act as a deterrent to burglars. A big loud dog is also an excellent deterrent to burglars; they do not want the hassle of placating your dog and will move on. Ensure things that could tempt a burglar are not in plain sight. Having expensive tools left out on the driveway will entice crooks to investigate further. If you have an expensive piece of art or collectible, don’t place it where it can easily be seen from the street. Likewise, easily visible TVs, computers, gaming consoles, and computers should be placed in areas that conceal them.
A Safe Means Secure
If you have valuable jewelry or carry large amounts of cash, you should use a safe to protect them. The type could be a wall safe, drop safe, or a safe bolted to the floor. It is also an excellent place to store financial documents, data storage devices, and family heirlooms.
Fake-Out Burglars
If you are going on vacation, a simple way to deter burglars is to make them think your home when you are not there. In the digital age, we find ourselves. It has never been easier to fool criminals. Smart devices can be activated remotely through your home’s Wi-Fi, even when you are not there. Smart plugs can let you turn lights, TVs, stereos, appliances, and other things on and off while you are away, making your home appear occupied.
Be sure not to post vacation or travel photos on social media until you return home; this is especially true if you have a lot of friends or followers on your social media accounts.
Ensure you document all your home’s valuables if your home is broken into and items are stolen. Many apps let you create a home inventory right from your smartphone, making the task easier.
Keeping burglars away from your home is simpler than ever. If you have any questions about homeowners insurance coverage for burglaries, contact us via email or at (863) 646-LOCK.
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How to Create a Home Inventory List for Insurance
Living in Central Florida your home is at risk from a number of natural things such as hurricanes, lightning, flooding, sinkholes, and tornados. Natural disasters are not the only thing that put your home at risk, a grease fire in the kitchen has burned many homes to the ground over the years. Faulty electrical wiring can be the source of a fire, and old natural gas lines have caused entire homes to be leveled by an explosion.
With so many ways your home could be damaged, and your property lost forever, it is crucial that you create a home inventory list. Having a detailed inventory of your possessions can make things easier when you file a claim, and it can also guide you on what kind of coverage you want.
Creating a Home Inventory List
Creating a home inventory list to submit to insurance is not a difficult thing to undertake, but you can’t cut corners when creating the list and still hope to receive reimbursement for your lost property. Here are a few steps.
Chose a Starting Point
You should follow Nike’s advice when deciding on which room should be your starting point when composing a list “Just do it.” The room does not matter; what matters is that you start the process of compiling a list of your possessions. The logical choice would be a room with items which are the most valuable; but it really does not matter, what matters is you have started creating your list.
Documenting Property with Apps
In the digital age, we currently live in documenting your possessions has never been easier or had more ways you can capture them. Apps like Sortly, Memento and Nest Egg can help you create list organize them and record details about each item on the list. These apps use your phone’s camera to add pictures to the list.
Apps are preferable to creating a physical list for two reasons. First, your phone is portable and likely to be on your person when you flee whatever disaster is damaging your home. Second, an app stores your list in the cloud, should you lose your phone in a fire or other emergency, you can log in to the app from another phone and retrieve your list. Be sure to include serial numbers, purchase dates, photos of receipts (if you have them), SKU numbers. With the technology available now there is no reason that your possessions should not be fully documented.
Lock Insurance has its own app that has an inventory list built into it. Our agents have access to the data in the app and they can send the list for you to the insurance company in the event of a claim.
Download the Insurance Agent mobile app below:
Make Sure Your Coverage Matches the Value of Your Possessions
Things like art, jewelry, antiques, and collectibles may have increased in their worth and will require individual coverage apart from your standard homeowner’s insurance. You should research these items value and speak with your agent about coverage before they are lost to a disaster.
Don’t Forget the Attic and Garage
When documenting your possessions, it is easy to forget the attic or garage. Your tools, exercise equipment, golf clubs, and other valuable items may all be stored in your garage. Antiques and your children’s old toys may be stored in the attic, so don’t forget to climb up there and document items.
Clothes Count
Remember to document your clothes along with your other possessions. Record how many of each article of clothing you own such as jeans, shoes, and shirts. If you have a coat or other item of clothing that is valuable, be sure to record details about it.
Document Storage
Items in your rented storage unit may also be covered by home insurance, ask your agent to be sure if your policy covers them.
Keep it Safe
When it comes to financial documents, family photos, and other important documents, be sure to store them in a fireproof safe or safety deposit box. Make sure to include a copy of your list as a backup to your home inventory app.
Creating a home inventory list doesn’t have to be a monotonous chore; it can be quick and easy if you just follow the above suggestions.
Should you have any questions about home inventory list, contact us via email here or call us at (863) 646-LOCK.
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Lower Hurricane Deductible Options
Lock Insurance has been in business for quite a while and has been through several hurricanes, but Hurricane Irma showed who and what was covered. Many insured do not realize how high their deductible is for Hurricanes. We also found that they did not know there was a lower hurricane deductible option.
2%, 5%, and 10% Deductible
In Florida, the 2%, 5%, and 10% deductible is a calendar year deductible, meaning it is a percentage of your structure amount dwelling. For instance, 100,000 thousand dollar houses with a 2% deductible would result in the homeowner being responsible for the first 2,000 dollars from a named storm event.
Calendar Year Deductible
What happens if there are multiple named storms in a single calendar year and you have to file more than one hurricane claim? Once your deductible has been met, you have no further deductible responsibility for that year.
Some carriers have offered Hurricane Deductibles as low as 500.00 dollars in the past few years.
Contact us today and find out more so you will not be caught with High out-of-pocket costs for minimal difference in price when the next storm is coming in.
I want a quote for a $500.00 deductible for hurricanes. Click Here.
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Homeowners Insurance Claims
Whether it’s damage due to a natural disaster, an unexpected accident, or a break-in, knowing when you should file a home insurance claim and what the consequences will be is essential.
So When Should You File a Homeowners Insurance Claim?
When should you file a homeowners insurance claim? What will that mean for your future rates or eligibility for a new policy with a new carrier? Here are some things to consider before contacting your insurance company.
Look First At Your Options
When making a home insurance claim, the first thing to consider is whether your current policy will cover the claim. You should know exactly what your insurance covers before making a claim; however, checking on the specific claim you will make before contacting your insurance company will give you the upper hand.
Is a Claim Necessary?
Once you have determined whether you are eligible, the next thing to consider is whether a claim is necessary. There may be instances when the deductible for your particular claim is higher than the costs. In that case, a claim would be a waste of time. You may also want to consider if the overall cost is worth any potential rate increases resulting from a claim.
When You’re Contacting Your Insurance Company
If you decide to claim, arming yourself with all the necessary information will make the process go quickly and smoothly. Be sure you have all your insurance policy documents readily available. You should also gather as many documents related to the claim-repair estimates, police reports, and photographs. It is also a good idea to keep track of all contacts with your insurance provider in case a dispute occurs.
In most cases, claiming your home insurance is a good idea. Keeping calm, organized, and informed can make the process stress-free. Most notably, contact us for advice.
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How Much Homeowners Insurance Do You Need!
Homeowners insurance is an essential part of owning a home and is a cost usually considered as part of the regular maintenance and protection of your house. In most places, it is also required by your mortgage lender, but how much home insurance do you need?
The minimum coverage may suit some homeowners, but most need additional types of coverage that the minimum policies do not include. So what are the types of coverage home insurance policies typically provide, and how do you determine how much home insurance you really need?
Do I Need Disaster Insurance?
While disaster insurance covering natural occurrences such as floods and hurricanes can be expensive, replacing your home will certainly far exceed the insurance cost if you live in an area where these events frequently occur. In the case of disaster insurance, it is a matter of balancing risk, financial situation, and peace of mind.
Do I Need Additional Content Coverage Insurance?
While most basic home policies include content coverage, the amount of this coverage and the deductible cost may not be appropriate for your particular situation. If you have several valuables, such as jewelry, or rare items, such as antiques, your basic coverage will not protect these in case of theft or damage.
On the other hand, if you have few belongings, choosing a policy with a high deductible to save money may not be worth it, as the value of your items may not be much more than the deductible itself.
Do I Need Theft Protection?
Again, most basic home insurance plans do not offer extensive coverage for loss from theft or damage due to a break-in. If having peace of mind with this kind of protection is essential, then this additional coverage will be worth the cost.
Do I Need Liability Insurance Coverage?
Homeowners’ liability insurance is essential if you have a home-based business or a condo. If a client had an accident on your property or negligence caused damage to a fellow condo owner’s property, liability coverage would protect you from the potential costs, including legal expenses.
Seeking professional advice from a Lock insurance expert can help you determine how much home insurance you need.
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What Is Force-Placed Home Insurance?
Unless you are fortunate, you probably have a mortgage on your home. Your mortgage company, a lien holder, is vested in protecting your home. If you fail to carry the correct homeowner’s insurance and a loss occurs, their monetary loss will be much more significant than yours. This is why the lien holders require you to carry homeowner’s insurance. You won’t be able to close on a purchase without it; if it lapses, your lien holder will step in.
Force-Placed Insurance!
Forced-Place insurance is a policy that your lien holder takes out on your home when your policy has lapsed or you have not provided them with proof of an acceptable approach. To protect their interest in the property, your mortgage company will obtain a policy and attach the payments on this policy to your mortgage. This insurance will remain in place until you provide proof of an alternate insurance policy.
The Reason You Don’t Want It
It doesn’t seem like such a bad deal to let the mortgage company handle placing insurance on your home. The problem is that this type of policy exists only to protect the mortgage company’s interests-not yours. There is no coverage for your personal property, and in the case of a claim, you will get nothing-only the mortgage company will receive payment. In return for this limited coverage, force-placed insurance is very expensive-much more so than traditional homeowner’s insurance.
How Can I Avoid It?
First, ensure your homeowner’s insurance coverage doesn’t lapse! Make your payments on time. If you have trouble remembering, consider rolling the insurance in with your mortgage payment or automatically withdrawing it. Another important consideration is ensuring the insurance company has accurate information regarding your lien holder, including their address. This will ensure the insurance company provides proof of insurance to the correct lien holder, and there is no question that you already have insurance in place.
Force-placed insurance isn’t what the mortgage company wants, nor is it the best choice for your interests. Be sure your homeowner’s insurance stays in force and proof is provided so that your interests and those of the mortgage company are protected.
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Keep Good Records For Your Insurance
You have homeowner’s insurance to protect your home and everything from an accidental and unexpected incident that causes a significant loss. If something catastrophic like a fire should occur, you will be called upon to provide a list of everything in the house and, in some cases, even proof.
An insured may be asked for photographic or other evidence of valuable possessions to protect the insurance company from paying out fraudulent claims. Here are some easy ways to be sure you keep good records of your home and its contents.
Documented Evidence
For expensive and valuable possessions, it’s a good idea to keep purchase receipts and appraisals where appropriate. These things, being paper, won’t survive something like a fire, so purchase a fireproof box in which to keep them or arrange for storage off-site. Ask a friend or relative to hold onto them for you, or place them in a safety deposit box if you have one. Some insurance companies will also scan these items for you and keep them in their computer system for future reference.
Photographic Evidence And Video Evidence
One of the most popular ways to keep records of your personal property is to take photographs and keep them somewhere safe. When taking photos of your items, be sure they are clear, and where possible, get close-up shots of model and serial numbers, especially on electronics.
Digital cameras have made it easier than ever to store large numbers of photographs, and you can back up your photos to a server where they can be kept safe in case they are needed, and the original files have been lost or destroyed.
Photographs can also be used to document the features of your home so that should it need to be rebuilt, you can return it to its original state.
Video cameras are also a popular choice for documenting your home. You don’t need to snap a picture of each item, but you can pan the room, zoom in where necessary, and keep one file with all the evidence you need. Again, digital video makes it easy to store the files in a safe place where even a total loss of your home won’t damage it.
A good record of the things inside and outside your home helps your insurance company restore you to your position before the loss. The more information they have, the easier it will be to reconstruct your home and replace your possessions. It’s up to you to create and store this evidence, so take the time to ensure the records are created and kept safe.
Lock Insurance is proud to introduce our premier mobile app “Insurance Agent.”
Manage, update, and protect your family, business, and property from your smartphone.
“Insurance Agent” is designed to put you in control and provide help:
- Quick Agency Access.
- Electronic Auto ID.
- Easy Policy Management.
- Convenient Claims and Bill Pay connections.
- Auto Accident Claims Kit – ensure every driver in your house has this app!
- Effortless Property/Home Inventory tool – Invaluable for policy reviews, claims, and estate planning.
- Essential Alerts and Notifications.
These mobile services are free to our valued clients and friends.
Download the Insurance Agent mobile app below:
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