Daylight Saving Time, or DST, ends at 2:00 a.m. Sunday morning, so here’s your first reminder to set your clocks back Saturday night. Enjoy the extra hour of sleep you get that night! Just in case you are curious, the time around the time change, or end of DST, happens to be one of the busiest times of year for car accidents. Here are some interesting items to note from an article by CBC News Canada.
I received an email over the weekend that asked an interesting question with implications for homeowners and homeowner associations. The question came from an individual who handles the association insurance policy for a community of duplexes owned by active adults over 55. Her question addressed a concern she has about several homeowners who have paid off their mortgages and, as a result, may not carry home insurance. She asked, “If one side of [a] duplex is damaged who repairs the whole roof?”
What’s the number one cause of deaths among teens? It’s not drinking, drugs, or some type of illness, it’s car accidents. Surprised? Car accidents are responsible for over 2,600 teen deaths in 2013 and injured another 130,000 according to the National Highway Traffic Safety Administration (NHTSA). The number of teens dying in car accidents is up about 20% from 2011. What’s heartbreaking is most of these deaths are preventable.
I was reminded this week how much certain types of home insurance claims can impact your rate. I was working with a prospective client’s insurance quotes for a new home a couple is buying. In order to confirm which company would provide the best rate, I ran the CLUE report which shows me claims the sellers may have filed on the home being purchased, as well as the buyer’s previous claims.
What factors should be used to determine a person’s car insurance rate? Factors such as their age and gender make sense. Even the type of car they drive, where the car is parked, and their driver classification (commuter, business use, or pleasure driver) should be factored into the rate determination. But should socio-economic factors, such as a person’s education or occupation be considered? What about a person’s marital status?
MSN posted an interesting article earlier this year noting changes home insurance companies are making. These changes tend to affect older homes in general, and homes with older roofs specifically. These changes are popping up across the US impacting home owners in the Gulf coast states, Midwest, as well as California and Colorado.
On September 18, the Environmental Protection Agency issued a Notice of Violation of the Clean Air Act to Volkswagen for its deception with software designed to trick emissions tests on vehicles equipped with its TDI engine. Affected models include VW’s Passat Jetta, Golf, Beetle, and the Audi A3. There are about 500,000 of these vehicles in the US and up to 11 million worldwide.
If you are a new home buyer, congratulations! You understand exactly what it took to get into your new home; saving up for the down payment, reviewing your credit scores and cleaning up any inaccuracies, pre-qualifying for the loan, shopping for home insurance, and finding that perfect home. I have one piece of advice for you that will help you save hundreds, potentially thousands, of dollars in the coming years on the cost of your home insurance.
We are sometimes harshly judged by what is deemed as our “credit worthiness”. An individual’s personal credit profile is very influential and has become more important than ever before. It can be used as a large decision-making component in many areas of our life including, financing and the interest rates we pay, our ability to rent an apartment or house, and the insurance rates we are charged…
I’ve been thinking a lot about creating a check list of home insurance related items for home buyers after last week’s post on why home buyers should check insurance on the new home during the option period. Here are three items home buyers should check that may help them save money on their insurance, as well as avoiding some unpleasant surprises.
Subscribe to my newsletter by filling the form below.
A confirmation email will be sent to your mailbox: please read the instructions to complete the subscription.
