Archive for May, 2008

Priority #3: “Collapse” and “Earth Movement.”

Two other key perils, or “causes of loss” that are not covered under most homeowners policies are “An example of collapse would be an old barn collapsing from aging. You can’t get coverage for old structures collapsing. However, you may be able to find coverage for earth movement, such as a mud slide following a rainstorm. Often this coverage is available as part of an earthquake policy. Use Google to research these two coverages and their availability in your state.

Priority #4: Content coverage

Homeowner policies also cover your contents; generally at 50% of the value you’re insuring your dwelling for. Example, $200,000 coverage on your dwelling, comes with $100,000 coverage for your contents. But for many people, the standard amount of contents may not be adequate, such as if you have really nice furniture. So it is important you talk to your agent about a “home inventory booklet.” This way you can take inventory of your contents and possessions, and record it. But don’t keep that inventory in your home. What if you have a fire and the booklet burns? So keep it at your office or your friend’s home. Or you can visit www.iii.org and get their online inventory guide. Coverage on the dwelling may include specified water damage, but your contents may not be covered for water damage. Be sure to read your policy contract, and ask your agent to clarify coverages. Ask your agent about specific loss scenarios.

The cost of having an online company verses a local agent might be cost effective today, but insurance is for the unexpected. Ask yourself, how much you will be really saving if your home is not properly covered. Are you insured, or do you just have insurance?

Part 1

Are You Insured Or Do You Just Have Insurance?

Thanks to technology today, a computer can now be carried around in your pants pocket. We are being more efficient than effective with this technology and in the insurance world we are being given more choices today than ever before.

This is a great topic for home sellers as they do not really understand the auction method of sale as it pertains to real estate. So, is selling your home at auction a better way to go rather then listing it with a traditional real estate agent?

The answer is an emphatic yes.
The auction method of sale gives consumers many more options when it comes to selling their home. But before I speak to the advantages let’s clear up some of the misconceptions. The word auction does not always mean foreclosure or short-sale. The auction method of sale is absolutely not always for distressed situations. This method of sale and the psychology behind it generates a tremendous amount of curiosity and interest for home buyers. Just seeing the word Auction on a real estate sign or in the MLS get buyer’s energized. If the auction is marketed correctly and administered ethically by an Auctioneer, the community will recognize this means of sale as a positive and not a negative. Buyers will always want to preview auction properties before traditional real estate listings.

The auction buzz
So now you have the energy and a buzz around your property that is being sold at auction. What are the advantages? The first advantage is flexibility. If you list your home with an auction firm, make sure they are also licensed to carry out traditional real estate sales, too. If the home does not sell at auction then it can immediately come on the market in the traditional sense. This will give you a competitive advantage with respect to a sales strategy. Yes a sales strategy, more tools that can bring an actual signed sales contract in less than 30 days. By coupling the auction method to traditional real estate sales you have created the perfect situation to sell your home.