Are You Planning To Remodel Your Home?

Are You Looking To Remodel Your Home?



You may be looking for ways to improve your home. Perhaps you want to upgrade your heating system or replace a leaky roof. Or add on that sunroom you’ve always wanted. Before you get started, Jason Shroot Knows that you'll want to know how that remodeling project could affect your insurance needs.


Update Your California Homeowners Insurance....

Whether you're updating your kitchen or adding on another room, a remodeling project will likely add value to your home. As a result, you'll want to check the property coverage limits on your homeowners policy to make sure that they reflect any changes you make to your home, no matter how small or large the improvements may be.


And if you're adding on to your house, you'll want the addition specifically mentioned in your policy. If it's not, your insurance company may not provide coverage for damages that occur to the new room.


If You Hire Someone To Do The Remodeling . . .


If you hire someone to do the remodeling, you'll want to make sure that he or she is properly insured. Any contractor that you hire should have a certificate of coverage for both workers' compensation and contractor's liability insurance.


Workers' compensation coverage protects you from liability claims that can result from a contractor (or his or her employees) getting hurt on the job. Contractor's liability insurance provides coverage for damages to your property caused by the contractor during remodeling.


If you hire a general contractor who is planning on handing off some of the work to a subcontractor (or if you plan on acting as a general contractor yourself), you'll also want to get a copy of the subcontractor's proof of insurance.


For The Do-It-Yourself Remodeling Project . . .


Before jumping into a home improvement project, make sure that you're prepared in case an accident occurs. If someone helping you on a remodeling project is hurt, his or her injuries will be covered under the liability portion of your homeowners policy. You may also want to look into a personal umbrella liability policy, which provides coverage above and beyond your regular homeowners insurance and is especially important if you have significant assets that you need to protect.


Here Are Some Other Tips By Jason Shroot...


• Before you get started, make sure that your remodeling project meets local building codes--otherwise, damages may not be covered by insurance

• Check with your local Better Business Bureau to find out if any complaints have been filed against any contractor you are hiring, and ask to see the contractor's license


• Get copies of the contractor's insurance coverage--have the insurance agency or company send the certificate directly to you


• Check your homeowners policy (or your contractor's insurance policy) to make sure that building materials and other uninstalled items (e.g., carpet, tile, cabinets) stored on your property are covered against theft and vandalism


• Keep your insurance agent up-to-date about any improvements to your home--he or she can help make sure that you are adequately covered at all times

For More Information On How Updating  Your Home Could Effect Your Homeowners Insurance Policy Please Contact Jason Shroot at 714-988-3325 or jason@diversifiedinsurancequotes.com

 

 

 

 

 

The Dangers of Radon In Your Home

Get A Read On Radon


Radon escapes naturally from soil as a colorless, odorless, radioactive gas that can seep through the foundation of your home and reach toxic levels.

How toxic? Radon contributes to 21,000 lung-cancer deaths annually, according to the Environmental Protection Agency (EPA). By comparison, carbon monoxide kills an average of 439 persons each year. The EPA sets the maximum acceptable radon exposure at 4 picocuries per liter of air (pCi/L). However, because there's no "safe" level, the EPA recommends you take action when the level in your home reaches 2 pCi/L. Outdoor radon levels average about .4 pCi/L.You Can Test For Radon In Two Ways:

•DIY Tests. Buy radon test kits at home centers or through National Radon Program Services. Testing takes two days to a year in a closed-up house before you return the test to a laboratory for the results. Radon levels vary daily, so longer tests mean greater accuracy. Retest after making repairs.

•Professional Tests. A trained radon professional's electric monitor shows how radon levels fluctuate during the test period. Home buyers may trust professional tests more because they are performed independently of home sellers.
Fix The Problem...ASAP

In general, treat radon reduction like any home improvement and obtain multiple bids before hiring a licensed contractor. Fixing most radon problems costs on average between $800 to $2,000 (depending largely on the size of your home).  The National Environmental Health Association offers a list of questions to ask your radon contractor. The EPA has also links to California's radon control agency.

Get More Home Safety Tips At Diversified Insurance

Get Free Insurance Quotes At 714-988-3325

Have A Safe Day

Reviewing Your Insurance Policy

Reviewing Your Insurance Policy
The easiest way to organize and review your insurance policies is to create a one page policy summary for each insurance policy. A policy summary could be copied from the insurance contract, or you could create your own on a pad of paper, in a word document, or in an excel file.

Most insurance policies contain a page in front of the insurance contract that is called a "policy summary", and will contain most of the information you will want to review.

It is especially important to periodically review insurance policies, as people tend to file these types of policies away and not look at them for long periods of time.

A policy summary makes it easy to quickly review an insurance policy. If you create your own policy summary it will help you understand your insurance policy.

An insurance policy summary would contain a section that has the basics of your policy, and a section with details on the benefits and restrictions. When conducting a review of your insurance policies you will want to pay the most attention to the benefits and restrictions.
Basics To Know And Review About Any Insurance Policy

Type Of Policy

Is it health insurance, life insurance, long term care insurance, disability insurance, property and casualty insurance, or auto insurance? If you are reviewing or summarizing a life insurance policy, specify what type of life insurance policy it: term life, whole life, universal life or variable life.

Insurance Carrier

Who is the insurance company that provides the insurance? Keep track of a customer service number you can call, or the contact information for your insurance agent (Jason Shroot @ 714-988-3325).

Policy Number

You will always need your policy number when you call and ask questions about an insurance policy.

Date Issued

It is important to know the date the insurance was issued especially when it comes to life insurance, as term insurance has an expiration date, and permanent insurance will have a surrender charge that may apply if you cancel the policy in the first five to twenty years.

Premium Required

Always keep track of the premium you pay and how frequently it is paid. In the case of a whole life insurance policy, the policy could be paid up. In that case if you were creating a policy summary you would write "No premiums required at this time as premiums are being paid by the dividends inside the policy." For other types of insurance, you might list something like “Premium of $225 per month paid by automatic deduction form checking account.”

Insured

Who do the benefits apply to; you, your spouse, a dependent child?

Once you understand the basic components, you can review the details of the insurance policy.  For More Help In Understanding Your Policy Coverages Please Contact Your Local Insurance Agent - Jason Shroot at 714-988-3325. 

Lightning Strikes Are a Real Risk to Homeowners—Are You Protected?

Lightning Strikes Are a Real Risk to Homeowners—Are You Protected?


Keith Leimbach never thought about the fact that his home was at risk of being damaged by a lightning strike. Fire? Sure. Storms? Of course.  But lightning?

“It never crossed my mind,” said Leimbach, of Brentwood, Tennessee. “It’s just not the kind of thing you think can happen to you.”

Nightmare at Midnight

Leimbach’s home was struck around midnight during an electrical storm in 2009. Keith, his wife, Kirsten, their three children, Luke, Jack and Sofie, and five visiting friends had just recently gone to bed. Luke, Jack and Sofie had only moments before left the game room on the top floor of their home where the lightning hit."
"We were watching the storm from our bedroom when we heard and felt a loud crack right over our heads. When I went out to investigate I immediately smelled smoke," recalled Leimbach.
"I couldn’t believe it, but it was clear what had happened. After we got everyone out of the house and across the street, I called 911 and found out the fire department was already on their way–our alarm system had notified them automatically."

Fire Department's Quick Response Wasn't Enough

The Brentwood fire department proceeded to spend nearly eight hours dousing the Leimbach’s home with approximately 50,000 gallons of water. Any parts of the structure and contents that weren’t destroyed by the fire were soon ruined by smoke and water.

“No one was hurt, but we lost almost everything,” said Leimbach. "Luckily we had a good home insurance policy. Our carrier got us into a hotel room that night and then found us a rental home in our neighborhood. They even had it furnished."

Basic Home Insurance DOES Cover Damage from Lightning Strikes

A basic home insurance policy will cover damage to your home caused by fire, storms (including snow, rain and hail), wind, tornadoes and yes, even lightning. The policy will also cover your personal belongings as well as the cost to live elsewhere while your home is being repaired, if necessary.

Soon after Leimbach’s meeting with his insurance adjustor, contractors began working on the reconstruction. The Leimbach’s moved back into their home within a few months.

Your Coverage Levels Are Key

Does Leimbach have any advice for other homeowners? Just one thing: "It's easy to think that by just buying home insurance you’re covered for anything. But you can’t make those assumptions. You’ve got to talk to an agent to make sure you have enough coverage to rebuild your house from the ground up if necessary. I can’t imagine what would have happened if we hadn’t had enough coverage."

Is your home adequately protected by your current home insurance policy? If you’re not sure, compare home insurance quotes today at Diversified Insurance. You’ll have the opportunity to speak to a Califonria licensed, experienced home insurance professionals who can help you make sure you have the protection you need. Plus, by shopping around you’ll have a great chance to find a policy at a lower rate.

Compare Home Insurance Quotes is Easy & Quick With Jason Shroot.  Just Contact 714-988-3325 or Jason@diversifiedinsurancequotes.com

Insurance To Value: As Housing Prices Plummet, The Cost To Rebuild A Home Is On The Rise.

Insurance To Value: As Housing Prices Plummet, The Cost To Rebuild A Home Is On The Rise.


As homeowners across the country watch the values of their homes plummet, they may start to think that their insurance premiums should follow suit. Many people think it's simple logic:

Reduced market value equals reduced insurance premiums.

But many don't know the difference between market value and replacement value or understand that they don't often follow the same trend. In fact, even as home values continue their steep decline, the cost to rebuild a home continues to rise.

It's now more important than ever to remind homeowners that their insurance premiums are not based on the current resale value of their homes, but on the cost to replace them.
Residential construction is a world-wide industry impacted not only by the cost of materials, but also the cost of new technology, new building codes and regulations, labor and materials. Home construction costs rose sharply after Hurricane Katrina in 2005, as the demand for building materials, labor and energy outpaced the supply.

Prices continue to rise, according to recent statistics. Reed Construction Data estimates an increase of 4.2% on construction costs from 2007 to 2009, up from the 2.8% estimate from 2005 to 2007 for the same period. Marshall & Swift/Boeckh estimates a 1% to 2% increase on overall construction over the same time period, with higher increases in many metropolitan areas.

Several variables can contribute to the rise and fall of home prices, including: implications of the subprime lending crisis; foreclosure rates; new housing starts; housing shortages; and location. On the other hand, replacement cost variables can include material costs; fuel and energy costs; the cost and availability of skilled labor; and changing construction codes and standards.
When comparing the two, it's important to note that market value variables are mostly forward-looking perspectives with the impact yet to be fully incurred or determined. In contrast, the replacement cost variables exemplify costs that are impacting the housing market almost immediately.

Key factors that have contributed to rising construction costs during 2009 include:


* Fluctuating energy costs over the past year;
* Rise in the cost of skilled labor;
* Increased overseas demand for raw materials and building products;
* Varying profit margins from general contractors and their subcontractors; and
* Rise in framing lumber prices and wallboard.

Calculating replacement cost is not based solely on builders' costs, but also on many hidden costs that impact the industry.

Other factors: In a global market, the U.S. dollar is weak. Also, it's harder for construction companies to get loans. Many builders am going out of business, so there is less competition and a lesser need to compete on prices. Recent natural disasters, such as hurricanes along coastal regions, floods in the Midwest and wildfires out West, have contributed to shortages in materials and made it more risky to underwrite homes. The trend to build homes with environmentally-friendly materials, low-impact processes and ultra-efficient heating and cooling technology has added to the cost of building and repairing homes.

For Questions & Quotes Contact Jason @ 714-988-3325 or Jason@diversifiedinsurancequotes.com. Also Please Follow Us At www.diversifiedinsurancequotes.com, Facebook, & Twitter.

Time To Review Your Homeowners Insurance Policy

"War and Peace." "Crime and Punishment." "The Sound and the Fury." All great books you've probably never read. If you're like most homeowners, you can add another unread title to your must-read list: Your Homeowners Insurance Policy. "So many people never look at it because their mortgage company pays their premiums," says Madelyn Flannagan, vice president for education and research at the Independent Insurance Agents and Brokers of America, or IIABA, in Alexandria, Va. An August 2009 IIABA survey found that at least 32 million U.S. households had ill-fitting insurance policies. Some were over-insured, others had major gaps in coverage. Fewer than 60 percent of respondents had performed "a comprehensive review" of their insurance coverage in the last two years, 16 percent had not done one since 2002, and 16 percent had never done one at all. (The remainder couldn't recall.) If you haven't peeked at your coverage since the Clinton era, you might suddenly find yourself reading a real-life thriller. For starters, there have been sweeping changes to the home, property and casualty industry over the last five years, stemming from the 1995 Hurricane Katrina. Robert Hunter, director of insurance for the Consumer Federation of America, says home casualty companies have also shifted more of the risk to consumers. Some companies now cap what they're willing to spend to rebuild your home but allow you to "buy up" additional coverage to protect against Katrina-esque skyrocketing rebuilding costs. Spiking liability claims for dog bites, mold and risky swimming pools and trampolines have caused further pullbacks in coverage for those hazards, as well. *** Renewal time is the best time to read your policy, review your homeowners coverage with your agent, and perhaps shop around for a better or cheaper policy. How can you tell if you've outgrown your homeowners policy -- or whether it ever fit to begin with? Here's what to look for before you renew your policy: Your homeowners policy, which is regulated by your state, features three main components: 1) Home (loss to structures), 2) Contents (loss to personal property), and 3) Liability Coverage. Home: Your policy usually covers structural loss caused by fire, theft, winds, accident, falling trees, water damage from broken pipes and even terrorism, based on the estimated value of your home. Typically not included (exclusions) under so-called "all risk" coverage are war, nuclear disasters, earthquakes and floods. Contents: The contents of your home are typically insured against loss, damage or theft for 50 percent to 70 percent of the estimated value of your home; that is, if you have a $200,000 home, your belongings, furniture and clothing would be insured for $100,000 to $140,000. Personal property not specifically excluded is often insured wherever it goes, even on vacation. There are often conditions and limits placed on loss of certain items such as jewelry, cash, furs, artwork, antiques and wine collections; to insure these for replacement value, additional coverage is usually available at a very affordable rate. But according to the survey, nearly half (47 percent) of respondents who owned valuable collections didn't own special insurance coverage for them. Liability: If your dog bites someone or someone slips and falls on your untended sidewalk and sues you, your liability coverage handles legal fees and judgments.

Here are some details to look for when examining your policy:

Replacement cost versus actual cash value: Most home policies today insure the contents of your house for actual cash value rather than replacement cost. What's the difference? Actual cash value means you'll only get what your 20-year-old sofa is worth today; with replacement-cost coverage, your policy will pay to replace it with a new one of like kind and quality. "All Risk" Versus "Named Peril" If your policy is written as "all risk," it means your home is insured for all causes of loss except those specifically listed as exclusions. If it's written as "named peril" however, you are only covered for causes of loss that are specifically listed in the policy. "You want 'all risk,'" says Pollan. "It's the broader of the two." Extended replacement coverage - Simply put, replacement coverage ain't what it used to be. Thanks in large part to Hurricane Andrew, if your house is a complete loss, most insurers will only compensate you for the home value on your policy and an additional percentage (usually 25 percent) for rebuilding overruns, not for the open-ended and often skyrocketing extra cost to rebuild in the high-demand environment of an Andrew or Katrina. Instead, you can "buy up" that extra coverage as an endorsement to your "replacement" coverage to fill in the gap in a worst-case scenario. Shop Around- Unhappy with rate hikes? Losing confidence that your insurer will be around when you need it? Shop around for a new policy. Although the insurance industry has not made it easy for consumers to compare apples to apples, many state governments have by providing easy-to-access buyer's guides where you can view your state's major insurance underwriters and compare features and prices.

For Questions & Quotes Contact Jason @ 714-988-3325 or Jason@diversifiedinsurancequotes.com. Also Please Follow Us At www.diversifiedinsurancequotes.com, Facebook, & Twitter.