Considering that foundation repairs can cost as much as $15,000, you hope that home insurance covers it. However, the sad truth is that because damage to your home's foundation happens over time, most insurance policies will not cover one of the most expensive home repairs. Whether your policy will cover the issue depends on how the damage takes place and each policy will differ. For example, if a tornado devastates your home and requires rebuilding, the reconstruction of the home could include the foundation as part of the dwelling cover.

When a home insurance company may deny your coverage includes when flooding or earthquakes take place. If either of these disasters has damaged your home's foundation, you will need a separate insurance for earthquakes and flood insurance to cover it. The biggest problem with this expensive repair is that, in general, homeowner's insurance will not cover wear and tear. Because the slightest shift in the soil can cause cracks to your foundation, a lot of homeowners insurance companies do not accept this as a claim.

Before you buy a home, we cannot stress enough that you need a foundation repair inspector to look at the home. Most of the time, you will have a home inspector look at the house, but the problem is that a home inspector is not a specialist, and they will not see anything that is not blatantly obvious. The time to spot issues with the foundation is before you buy a home because you do not have to resign yourself to years of headaches.

Most of the time, damage to the foundation will not be covered by your policy. That means that if issues occur, you will have to pay for the expenses out of pocket. A structural engineer will give a video report that details the causes of the damage. You want to check with your home insurance provider in advance to see if they will cover damage a foundation and how they will cover it.

Call Pachuta Insurance Today @ 706-769-2262
Source:
Opposing Views

Over the last few decades, car insurance companies have hinged their premiums based on car accidents and speeding tickets. In the future, however, we could see a change where auto insurance companies look at every slam of the brake system and every time the gas pedal gets pumped. In fact, according to the Indiana Department of Insurance, we have already seen more than two dozen auto insurance companies that have launched into collecting data this way on a small scale.

Through Liberty Mutual insurance, there is a smartphone app that records the more in-depth driving details, such as hard stops, hours driven at night, fast acceleration and the total miles driven. If you score well with this app, you could be eligible for a discount of up to 30 percent. Liberty Mutual launched this program, known as RightTrack, at the start of January, and it has been so successful that it could soon spread to more southern states like Georgia and the others.

In the past, we saw how a lot of insurance companies offered telematics equipment to record your driving habits. Because around 68 percent of adult drivers now own a smartphone, a lot of car insurance companies have started to show an eagerness of leaping into the new and revolutionary methods of collecting data.

While the program does show promise, there are concerns that insurance companies will abuse the system. For example, some analysts believe that insurance companies will eventually use telematic equipment to penalize bad drivers. Karl Brauer, a researcher and analyst for Kelley Blue Book, said that you cannot always assume benevolent intentions. Eventually, insurance companies could start to use the system to raise a person's rates long before an accident even takes place. The advantage is that a lot of these programs are voluntary so that insurance companies have to stay honest, and since data privacy has become an increasing concern, the chances of mandating this data collection method drivers is still unlikely.

Call Pachuta Insurance Today @ 706-769-2262
Source:
Indianapolis Business Journal

Because of the advances in technology, we have seen a surge in home-based businesses, but what a lot of people do not realize is that the standard home insurance policy will not cover these risks in the majority of cases. Your best chance of receiving compensation for damage to your business would be if you had special endorsements in your policy. For example, if you have a policy that covers daycare providers when you file a claim for your business, it will cover it.

According to Independent Insurance Agents & Brokers of America, around 60 percent of businesses in the home do not have adequate home insurance to cover them. Some people mistakenly believe that homeowner's insurance will cover their losses, but in many cases, your insurance provider will refuse to provide coverage for undisclosed home businesses. In some cases, they have even canceled a homeowner's policy. At best, they will give you a small reimbursement for what you lost.

What can an aspiring entrepreneur do to protect their business? First, start with homeowner's insurance intended for home-based businesses. In most cases, you will have three types of insurance for this, and you should choose a policy based on the complexity of your business. The most affordable home-based business insurance is rider to homeowner's. This policy expands the coverage to protect your company, and it only costs an extra $100 per year but gives you $2,500 of coverage. Next, you have an in-home business policy that will cover a broader level of losses, and it runs between $250 to $500 a year. Normally, this will cover up to $10,000 in losses.

Finally, you have the business owner's policy, and this is a choice best left for the successful entrepreneur that needs $10,000 of coverage or more. This comprehensive policy is what you find at traditional brick-and-mortar establishments. Speaking with your home insurance agent can help you to find a policy that meets your business requirements.

Call Pachuta Insurance Today @ 706-769-2262
Source:
CapeCod.Com

The price that homeowners pay for insurance will range from a hundred dollars up to a few hundred dollars per month. It largely depends on the company that you have chosen to buy from. Do not be afraid to shop around. While it might take more time, a lot of homeowners do not realize that they can oftentimes receive a better deal elsewhere.

The next thing that you could do to lower your homeowners insurance is to raise your deductible. This is the amount that you will pay toward losses, and it will be based on the terms of the policy. A higher deductible does mean that you will save more on your premium, but keep in mind that you could have to pay more with a loss. Today, a lot of insurance companies recommend that you carry a deductible of around $500. You can raise this to $1,000 and save as much as 25 percent. Certain areas in Georgia will be more vulnerable to specific disasters. The primary disasters in Georgia include thunderstorms, hurricanes and tornadoes that can ravage a community.

If you make your home burglary resistant, you can lower your premium by 15 or 20 percent. A sophisticated sprinkler system can also reduce the cost of your home insurance. However, keep in mind that these systems cost a lot, and before you buy, talk to your home insurance agent about the systems that qualify.

Retirees can also qualify for a discount on home insurance. Because you stay home more than people who work, you have the chance of spotting fires faster, and you have more time to maintain your home. As someone who has retired, you may qualify for as much as a 10 percent discount from certain companies. Finding a great discount on homeowners insurance boils down to understanding the key areas to save money.

Call Pachuta Insurance Today @ 706-769-2262
Source:
Get Rich Slowly