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Welcome
to Homefront News, a quarterly newsletter presented
by Bernie Saul, President, Equitylink Mortgage, Inc.
Archives
February,
2007
Inside
this Issue:
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Homeowner’s
Insurance 101
So
how do you choose the right insurance for your
needs? First, it’s important to understand
what insurance does and does not do. You should
understand the difference between a standard policy
and optional coverage. Then you should determine
the value of your home and prepare an inventory
of it’s contents. Next, consider the cost
to rebuild or replace your home if it was damaged
or destroyed.
A
basic policy will protect your home and it’s
contents from most losses such as damage, fire,
or theft, and includes four essential types of
coverage; the structure of your house, your personal
belongings, liability protection, and additional
living expenses if you are forced out of your
home due to a covered loss. Each time you incur
a loss, your insurance company will pay for any
covered damage that is more than your deductible
amount.
Landscaping
is covered under most standard policies, but a
special rider is needed for unique items such
as water features, bridges, and gazebos. Although,
most standard policies cover an aggregate of outbuildings
and detached structures for up to 10% of the coverage
for the structure of your home. And, you should
consider a special rider for any valuable items
in those outbuildings such as vintage cars, RVs,
boats, woodworking tools, and jet skis.
I
recommend reviewing your personal property inventory
with your insurance agent, to make sure that everything
is covered. Such items as jewelry, art work, furs,
and silverware are only covered for a modest amount.
You will need separate coverage to insure them
for their full value. Such “riders”
are not subject to a deductible. Another benefit
of such special riders is that “accidental
disappearance” is covered, so if a small
piece of jewelry is simply lost, you are entitled
to the replacement cost.
Your
liability coverage protects you from injuries
suffered at your home by accident or your pets.
Read the fine print carefully to understand what
your requirements are to prevent accidents under
this protection. More important than knowing what
is covered under your policy, is knowing what
is not covered. Depending on the value of these
items, you may need additional coverage for such
items as cameras, furs, musical instruments, silverware,
antiques, fine art, manuscripts, sporting goods,
collectibles, and home theatre components.
Finally,
insurers now use your credit score to help determine
the cost of your policy.
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I
feel like my body has gotten totally out of
shape, so I joined a fitness club and started
exercising. I chose an aerobics class for seniors.
I bent, twisted, gyrated, jumped up and down,
and perspired for an hour. But, by the time
I got my leotards on, the class was over.
~ Anonymous
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Dryer
Sheets vs. Clothes Dryer
If
you use dryer sheets to reduce static on your clothes,
this is a great tip to save both money and frustration.
Most everyone understands the need to clean your lint
filter after every load… simple enough. However,
take your lint filter to the sink and try to run hot
water through it. If the hot water just sits on top
of the mesh filter, your static cling sheets have invisibly
clogged it up. This will cause your dryer to run inefficiently
and can even result in a burned out heating element,
or at the very least, higher energy costs to dry each
load of clothes. If this blockage become serious enough,
it can even cause a house fire.
I
suggest that at least twice a year, you should wash
the filter screen in hot soapy water with a soft tooth
brush.
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Car
Alarm
The
next time you come home for the night, and you go to
put your keys away, consider this:
Assuming
you have a remote door lock, security system for your
car; you now have a home security tool which requires
no installation.
Start
keeping your car keys next to your bed on the night
stand. If you think someone is trying to get into your
house, or if you hear unusual noises outside, just press
the panic alarm on your car key remote. Test it! This
will work whether you park in the garage or in the driveway.
If your car alarm is heard by an intruder, he will surely
flee. In no time at all, the neighbors will be looking
out their windows to see what gives. Of course, you
simply press the alarm button again to turn it off.
And, always carry your car keys in hand when walking
to your car in a parking lot. If you are startled or
attacked you only have to press the alarm button to
cause undesirables to flee in panic. This also works
if you can’t find your car in a big parking lot
such as the airport.
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To
learn more about personal security, spyware, ID
theft, scams, and internet safety. You’ll
be glad that you did.
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Carpet
Spot Tips…
From
my guy Doug Keil at Alpine Carpet Cleaning:
- Act
quickly… the sooner the better!
- Blot
with a white cloth only.
- Do
not scrub the area, it will cause pile distortion
& make things worse.
- Apply
a small amount of your cleaning solution to the affected
area, and allow it to sit for 10 minutes before blotting
gently with that damp white cloth. Be patient! Continue
treatment as long the stain continues to transfer
to your white cloth.
- Rinse
thoroughly, and cover with white paper towels till
dry.
- Or
call Doug at 303-933-5219.
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FREE
NOTARY SERVICES!
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As
a free service to our valued
clients, we are happy to notarize your document
in our office at no charge.
Traveling
Notary Service is also available for a fee.
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Home
sales factoid…
When
you display your home for sale, you are not selling
just a building and it’s amenities. You are
selling a life style!
What
style of living does your home suggest? Ask your
realtor what he or she suggests and listen. Maybe
staging your home is a good idea.
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Tooting
my own horn!
During
the refinance boom following 911, many families were
unduly influenced by their loan officers to take out
ARM loans, also known as adjustable rate loans. Good
for the loan officer, but frequently not so good for
the client. I am proud to declare that in most cases,
my clients obtained fixed term loans, when I explained
the real truth about adjustable versus fixed term loans.
Those who later regretted obtaining adjustable loans,
went back to the same loan officer, and handed him more
of their hard earned money to refi into a fixed term
loan. What a country!
Regardless
of the impact on me, I always give you, my valued clients,
sound factual information to form your decision upon.
Some
of the biggest abusers, who promoted ridiculous loan
programs, have subsequently closed their doors due to
floods of complaints and legal action.
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