When putting stuff in storage, make sure it’s been insured

When putting stuff in storage, make sure it’s been insured

Americans like to hold on their stuff and they’ve typically have lots of it, whether it’s filling up the garage or squirreled away in a storage unit. Items kept at home would be included in a homeowner or renter’s insurance policy, but with any items kept in storage that might be a different story. It’s important to keep in mind that although a storage unit can let people hang on to an old table or…

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Rebuilding after Sandy offers chance to reinforce the home

Rebuilding after Sandy offers chance to reinforce the home

The damage inflicted by Hurricane Sandy offers an opportunity for residents to reinforce their homes as they rebuild and an example of what could happen if they don’t. The Insurance Institute for Business & Home Safety offers new insights and guidance focused on key rebuilding issues to help residents and business owners repair or rebuild so that their property is stronger and more resilient. “While everyone is anxious to get back into their homes or resume…

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Claims pushing increases in homeowner’s insurance costs

Claims pushing increases in homeowner’s insurance costs

More frequent and costlier claims add up to rising premiums for homeowners insurance, according to a recent study. A big part of this stems from catastrophe-related claims and their impact on the market. The study, by the Insurance Research Council, examined several years of homeowner’s insurance claims and found several trends. From 1997 to 2011, the average claim payment per insured home countrywide rose 173 percent, from $229 to $626. In 2011 alone, homeowners insurance claim…

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Summer storms invite fraud

Summer storms invite fraud

The Coalition Against Insurance Fraud warns homeowners that the threat of summer rainstorms, hail, tornadoes, hurricanes and wildfires can not only cause damage to a homeowner’s property, they can also invite the risk of insurance fraud. After a storm, scammers will try to cheat honest homeowners who need repairs often urgently after a storm, or for routine seasonal fix-ups. “Most contractors are honest, but far too many are incompetent and unlicensed storm chasers whose best…

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