Helpful Tips for Buying a Home and Home Insurance

If you are looking to move into a new home, check out these tips first and about Homeowners insurance coverage.

Be realistic about how much you can spend.

Save yourself a lot of time by planning out a budget first. The first thing you need to consider is how much can you afford to spend each month on mortgage, taxes and insurance on your new home. Talk to your bank about a pre-approval letter for new home loan so you know exactly what you can spend. Look at the homes in the range you can afford and maybe less. Doing the research, yourself will make you more knowledgeable about the market, which is key to making a good purchase.

Online resources and Realtors

Before you get your heart set on a home, call the Realtor on that listing and ask about the roof, mold, or any other problems that could be there. A Realtor is a great asset to have when searching for a home and as a buyer you do not pay a commission fee. Ask if they can recommend a Home Inspection Company, once you sign the contract, you may have a limited number of days to get the home inspected.

What is the neighborhood like?

If you have had problems with neighbors while renting, that option is you can make a complaint to a landlord, or possibly negotiate your contract and move. Do your homework ahead of time about the location of your new home. It may be beautiful, have the pool you want, and a dream size backyard, but what is the good of that if you’re up until 3 am because of noisy neighbors. Take a drive out around dinner hour and again maybe later in the evening. Ask others if they know about the neighborhood, break-ins, noise, family oriented, etc.

The Mortgage

If you have a mortgage, you will need homeowners’ insurance. The lender wants to protect their investment in case of a hurricane, tornado or other unpredictable incidences that may cause damage to the property.

If you are purchasing a home, start looking for home insurance as soon as you sign the contract, this way you will have time to compare quotes and get an idea of how much this will cost.  You will need to show proof of home insurance at the closing.

Always, always have a home inspection

This is not the same as an appraisal of your home. The appraisal is the value of the home. The home inspection makes sure your home is safe and if there are repairs needed.  Your basic Homeowners Policy may cover the dwelling, personal property, liability in case someone gets injured, and storm damage. It will not cover a pre-existing condition such as mold. Make sure you walk through the home and talk with the home inspector.

For many the home inspection helps them to decide if they want to purchase the home. For insurance purposes, a 4 Point inspection and Wind Mitigation are encouraged, for two very important reasons.

The 4-point inspection lets you and the insurance company know the conditions of the plumbing, electrical system, roof condition and Heating, Ventilation, and Air Conditioning (also known as HVAC).

The Wind Mitigation Inspection has an added bonus, which gives you a discount on your Homeowner Insurance Policy. This inspection determines how your home will handle high winds, storms and hurricanes.

Termites

Termites can cause a significant amount of damage and it can be quite costly to get rid of them as well repair the damage. If you have going through a lending company, they may require this inspection. Get started off on the right foot and have a termite inspection done with the home inspection. Some companies provide this for an extra cost, but in the long run it is well worth it.

 

Start shopping for Home Insurance for your new home with us today?

Contact us at 863-453-3903 or fill out the form on our website and we will contact you.

 

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Importance of Liability Coverage For Pets on Homeowners Insurance

Your cute little puppy is a great addition to the family. Your new bouncing bundle of joy puts a smile on your face until you find him happily chewing on your shoe, or the leg of your chair. This you can control, but what about when your puppy gets bigger and decides to tear up your neighbors flower bed or possibly bites someone?

As much as we train and love our pets, we do need protection for the the not so proud moments that can happen. It is a good idea to be vigilant about your dog’s interactions with visitors to your home. Typically, the liability portion of your home insurance coverage should cover the actions of your pets if they damage items that you don’t own or if they injure people who do not live in your house.

Be aware that there are certain types of pets that can make it difficult to obtain home, renters or condo insurance. Dog bites make up one-third of all homeowner insurance liability claims, according to the Insurance Information Institute, and last year dog bites costing nearly $571.3 million and accounted for more than one-third of homeowners insurance liability claims.

You can purchase home insurance protection for your pets indiscretions for most types of domestic pets. Some insurance companies will provide you a list of certain types of dogs that they may consider not insurable. What they are basing their information on is the breeding history, temperaments and the risk factors. So, if a particular dog breed has a documented history of attacks or bites, some insurance companies may consider this risk to be too high, thus causing the company to deem the breed un-insurable.

Common dog breeds that are often not considered insurable include:

* Akita

* Alaskan Malamute

* Chow Chow

* Doberman Pinscher

* German Shepherd

* Pit Bull

* Presa Canario

* Rottweiler

* Siberian Husky

* Staffordshire Bull Terrier

* Wolf hybrids

Exotic animals, such as snakes, tigers, etc., also may fall in the un-insurable category. Check with us today to see if owning any of the pets above has limitations. It is actually a good idea to check when choosing a pet to bring into your home.

When you apply for home insurance, disclose information about any pets you have to ensure your policy will properly cover you involving your pet.

Have Questions? Need a quote? Call us today to get your questions answered 1-863-453-3903 or visit our website.

 

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How To Maintain Your Home to Keep Your Insurance From Increasing Tips

When travel through your neighborhood, it is easy to see which homes are being maintained and which are not. Their lawn is overgrown, perhaps there are missing shingles from the roof, dirty or broken windows and a lack of care that maybe a fresh coat of paint could do wonders.

Seasonal maintenance of your home helps to retain its value and prevent problems in the future. Some repairs can help keep your Homeowners Insurance policy from increasing since they include reducing safety issues such as fires or broken plumbing.

It’s helpful to keep a checklist of what you must do to maintain your home:

Check the batteries in your smoke detectors. When we change the clocks for daylight savings time we also change out the battery in our smoke detector.

Consider having a Pre Maintenance check for your air conditioning system at least once a year by a professional. A good running air conditioning system saves your money on your energy bill.

Check your doors and windows for to see if they close properly or if they need to be re-sealed. (This also can help lower your energy bill if there are leaks.)

Ask a professional how often your septic system needs to be cleaned out if you have one. Don’t wait for the overfill!

Put a roof check on your list. Do the gutters need cleaning, are vents and roof tiles loos?. If you see any damage address it immediately. If you are not sure what to look for or question anything, contact a professional roofer to help you out.

Inspect your walkways and driveway. Repair any cracks or holes. Any injury caused by this is your liability.

Remove and clear any tree branches that hang over your home or your neighbor’s home. Florida is hurricane country and keeping these trimmed up could avoid a disaster should a storm come your way. In the event of a hurricane, remove anything that can be caught up by the wind and store it indoors.

At least once a year have a Termites inspection. You don’t want to give the termites time to build their nest, yearly inspections give you the ability to catch any infestation quickly.
According to Orkin Pest Control “Termite control is done once and it will last from 6-13 years; however, a yearly inspection of the house is usually done”.

Check the expiration date on fire extinguishers and replace them as needed. Put the expiration dates on your calendar as a reminder.

Inspect your attic for openings and if you need to restore or replace installation.

Maintaining of your home can help keep your insurance costs down and also save you money in the long run.

 

Call us with any questions! 863-453-3903 or visit our website 

 

Image courtesy of Evgeni Dinev at FreeDigitalPhotos.net

Why Additional Living Expenses on Homeowners Insurance Coverage is so Important

Should you be faced with a fire, or a devastating storm that destroys your home, you will not be enjoying the comforts of your home and you need to be prepared.

In your homeowner’s coverage you should not only be protected for your personal belongings but compensated for additional living expenses. While your house is being accessed, you may be in a hotel for a few days, need money for restaurants, clothing and other expenses that may occur.

You do not want to find out after the tragedy of damage or losing your home, that you are lacking coverage. You need to know what your limits or exclusions are ahead of time.

This is where your compensation for additional living expenses comes in. Some insurance companies may give you unlimited help with your expenses and others a percentage of your total homeowner’s coverage.

Not sure what exactly your coverage is? Call us today to get your questions answered. 863-453-3903 or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.

We offer home insurance to the following states – Florida, Minnesota, Georgia, Texas, Maryland, South Carolina, North Carolina, Indiana and Pennsylvania.

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How To Keep Your Homeowners Insurance Policy Up To Date To Save Money

Residential coverage protects against damage to or destruction of your residential structure. If your home is destroyed by a tornado, fire, or what disasters your policy covers, the insurance company can completely replace or cover the repairs to your home.

In this section of coverage, the most important reason to keep your homeowner’s insurance policy updated is because, in the event of disaster, the insurance company will only reimburse you for what your home is insured for, what you have on the policy.

For example, you purchased your home and homeowner’s insurance say five years ago. It is very likely the value of your home has increased since the purchase date. If you purchased the home insurance policy five years ago and have not updated the policy to the home’s current cost to rebuild, the insurance company will only reimburse you for the price you paid five years ago. So, if you purchased the home for $300,000 and the value has increased to $400,000, you’re losing $100,000 – quite a large sum.

In the end, it is essential to keep your homeowner’s insurance policy updated because you want to be sure your home is insured for 100 percent of the replacement cost. (Some policies automatically update to your home’s current value. Does yours?) While it is easy to let that dust settle over your policy from year to year, keep in mind that putting it aside could cost you much more in the end. Your homeowner’s insurance policy may make heavy reading, but it will be even more burdensome should it be out-of-date.

Call us today to get your questions answered.

863-453-3903 or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.