Cheryl Caldwell - William Raveis - The Dolores Person Group



Posted by Cheryl Caldwell on 4/16/2021

When pests come into your home, thereís no creepier feeling that you may have as a homeowner. You may turn to your house insurance for assistance if the problem gets really bad. Letís say that termites have taken over your home and gotten into your walls or foundation. Maybe mice have gotten into the walls of your home, or a squirrel has caused some major issues in the attic. Whatever the problem is, you want to remedy it quickly. It might be an expensive fix no matter what, but it has to be remedied for you to continue to live comfortably in your home. 


The Truth About Homeowners Insurance


Unfortunately, homeowners insurance doesn't cover pest infestations. It doesnít matter if the termites have literally eaten you out of house and home, the insurance companies consider pests to be an avoidable problem. Even though you may wonder how bugs can be considered ďavoidable,Ē itís simple. The insurance company believes that regular maintenance and checking of your property can help to prevent bug infestations. This is why itís so important to take care of your property and not neglect it. 


Collateral Damage


There are a few exceptions to the rule. If your ceiling caves in and it was caused by some of the pest damage, your insurance may cover the cost of the repairs to the ceiling. They may not cover the materials that are needed to repair the ceiling itself. Insurance claims can be tricky, so youíll need to ask a lot of questions if these problems do occur for you.


What Homeowners Insurance Covers


Thereís nothing more frustrating than paying an insurance premium to find out that it doesnít actually cover anything that you need at a certain point and time. As a general rule, homeowners insurance policies cover things that are considered accidental. This would include natural disasters like hurricanes, hailstorms, or high winds. If a tree falls on your home due to a windstorm, there was really no way of preventing that from happening. Your insurance would cover this. Damage that happens over an extended period, like that of a pest infestation or an aging home generally is not covered by house insurance. 


Separate Policies


Some insurance companies do offer separate policies to cover damage from certain types of pests like termites. There are several varieties of insects that cause damage to wood structures, so these policies may be more general stating that they provide ďwood destroying insectĒ coverage. If you live in an area thatís prone to termites, thereís a few options available to you including something called ďtermite bonds.Ē


Your best course of action as a homeowner is prevention. Keep up with regular maintenance around your home and inspect your home regularly for any problems that you may find.





Posted by Cheryl Caldwell on 2/14/2020

Homeownerís insurance allows you to have financial protection if your home or the contents of your home have been damaged. If you or your family member are held legally responsible for injuries that have occurred on your property, you are also protected. Insurance is generally required by most mortgage lenders in order to secure a loan. 


There are many different types of insurance policies that you can use to cover your home. You can get anything ranging from a basic insurance policy that just covers your home overall or you can go for broader protection for your home. The types of coverage that you can get will vary from state to state.


Natural Disasters


Most insurance policies will cover damage caused by fire, wind, lightning, theft, or vandalism. Floods and earthquakes typically require additional coverage, so if you live in an area that is susceptible to these issues, then you should inquire about additional coverage. 


The Standard Policy


Most insurance policies include certain basic coverages like dwelling coverage which is the allowance for you to either repair or rebuild your home. This includes the electrical systems, the plumbing systems, and the HVAC systems. You need enough coverage for your home in order to rebuild in the event that such an event would cause a need for it. Your insurance agent can help you to find a comfortable number that will allow you enough coverage for rebuilding.


Standard coverage also may include ďother structuresĒ which can include fences, garages, cottages, and sheds. Youíll also be covered for your personal property which includes clothing, furniture, and electronics that may be damaged in your home due to theft or disaster. 


Loss Of Use Coverage


This type of coverage will pay for your living expenses if you need to move out of your home while itís being rebuilt or restored. This would allow you to find alternative arrangements when you need it most, so itís an important aspect of home insurance coverage. 


Liability Coverage


This coverage is one of the most important aspects of purchasing home insurance. Having liability will help to protect your assets and cover defense costs in the event that you have been held liable for causing and injury to other people or property. 

Additional Coverage Options


There are many different types of additional coverages that you can add to your homeowners insurance policy to help you get the right umbrella of coverage for you.




Categories: finances   Insurance  


Posted by Cheryl Caldwell on 3/10/2017

Purchasing a home is a large investment and not one that anyone should make on a whim. Itís important to understand your maximum budget but also what you are comfortable spending, which may not be the same number as your maximum budget. But itís also important to fully understand the hidden costs that come with owning a home. Your mortgage payment is not the only payment you will be making each month and itís certainly not the only cost associated with owning a home. Letís take a look at some hidden costs listed below: Home Insurance: Insurance is something that you may know you need, but not a cost you are thinking about when house hunting. Therefore, the cost can sneak up on you. Be sure to factor in this cost, as it will be associated with your homeís location, age and value. For example, you are going to pay more if you live in an area that is prone to natural disasters such as floods or tornadoes. Home furnishings: Is this your first home or, at least, your first home that you would like to furnish with new furniture not hand-me-downs or a couch from craigslist? There also may be items that you need for this home that you did not need in your apartment such as a dining room table or spare bedroom bed frame and mattress. Furnishing your home can be a large expense and one that you should be saving up for. You donít need to go out and spend thousands on each item and you may want to spread out your purchases, but this is a very important cost to consider when purchasing a home. Appearance: When you purchase a home there may be things about the house that you want to change or update. This is something that not many factor in when buying the home as they are so wrapped up in the process of purchasing. However, even small updates cost money and if you spend all of your money on the down payment, you will not have any leftover to make those updates to make the home truly yours. Maintenance: If you previously rented, then maintenance is not something that you had to handle, as that is what your landlord was for. However, when you buy a home all maintenance and repairs fall on you. If you are purchasing an older home itís extremely important to understand what needs to be updated or replaced now or in the near future, such as the water heater, furnace or roof. Itís possible that you may get the previous homeowner to take care of this if itís in need at the time of selling, but if these updates/replacements take place a couple years down the road then itís up to you to take care of it. There is also the general maintenance of your home such as landscaping and snow removal. Will you purchase your own equipment or hire a service? Either way, this is an additional expense. Utilities: Often times many utilities are included in your rent. Well, this is not the case when owning a home. If the home does not have a septic system then you will need to pay for water and sewerage. You will have to pay for your own cable, Internet, and phone, and letís not forget about electricity. Itís important to understand all of the utilities that you will have to pay when you purchase a home. Property Taxes: Property taxes vary by town, but will always be an additional cost when owning a home. And, this cost will increase if you make additions or significant updates to your home. More desirable/expensive locations will have higher property taxes. This is often a cost that catches many off guard so be sure to research the locations where you are house hunting to see if you can afford the property taxes on top of all of the other associated costs. This is not meant to discourage anyone but shed light on the costs that many do not consider when they are house hunting. Make sure your budget allows for your mortgage payment and the expenses listed above that are tailored to your situation and you will have no problem becoming and staying a homeowner.







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