Checklist to Winter Proof Your Home

Winter is often unpredictable and home owners report billions of dollars in damages every year from weather related claims.  There are some simple precautions that can be taken to help minimize and avoid winter related disasters. 
OUTSIDE THE HOME:
Clean out gutters- remove leaves, sticks and debris so the melting snow and ice can freely flow.  This can prevent ice damming, a condition where water is unable to drain, refeezes under the shingles, remelts and seeps into the home.  You can also try gutter gaurds to eliminate this cleaning.
Trim trees and remove dead branches.  Ice, snow and wind could cause branches to break damaging the home or car and possibly injure someone walking on your property.
Repair, sidewalks, steps and handrails to prevent a trip/slip and fall.  Unrepaired items can be lethal when covered with snow and ice.
Seal cracks in holes in outside walls/foundations and make sure skylights and other roof openings have proper weather stripping to avoid water intrusion.  Protect outside water sources from freezing with inexpensive covers. 
INSIDE THE HOME:
Keep the house warm and add extra insulation to minimize heat escape that can melt snow that can refreeze causing the ice dam and protects pipes from freezing/bursting. Learn where the main water valve is in case of a rupture and make sure all smoke alarms are functioning.  Also consider adding a carbon dioxide detector , since a well sealed home can trap this toxic gas.

What is a Flood?

My prior post provided a valuable tool in determining if your home is in a flood zone.  I would like to expand on that to clarify what is a flood.  The National Flood Insurance Program and the Federal Emergency Management Agency define a flood as:
"A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:
--Overflow of inland or tidal waters; or
--Unusual and rapid accumulation or runoff of surface waters from any source; or
--Mudflow;or
--Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."
If you have determined that you are in the flood zone, I recommend securing a flood policy to transfer this risk to the insurance company.
As side note, water backup of the sewer and sump pump malfunction is not part of the definition of a flood.  Make sure you add the water backup/sump pump overflow endorsement to your home owners policy to close this gap in coverage.  Most companies offer a minimum of $5000 with the option to purchase up to $50,000 or in some high value home policies, up to the policy limits.  I strongly recommend that you review your home owners policy for this coverage, especially if you have a partial to fully finished basement!

Is My House In a Flood Zone?

I have relatives that live close to Nashville, TN and the flooding that occurred last spring reminded me how important flood insurance is even if you are not in a flood zone.  The above link (accessed by clicking on this blogs title) is a useful tool in determining if your home is presently in a flood zone as well as a graphic of the Flood Risk Meter that will assess the risk for flooding.  This information is useful for your current home to determine if the flood zone status has changed since you  purchased the home.  This is vital information if you are considering refinancing, for if the home has been moved into a flood zone you will now be required to purchase a flood insurance policy.  A flood policy will dramatically increase the overall cost of insuring the home.  The site can also be used if you are considering moving to a new area to determine if the location of the new home will be subject to the purchase of a flood insurance policy.  I recommend obtaining this flood zone determination in order to have all the information needed prior to making an offer on a home.   No one likes surprises, especially if it is an increase cost of insurance.

Why Umbrella Liability is Important

Umbrella's are necessary in todays litigious society.  This article highlights the importance of protecting your current and future assets from a judgement against you and your family.

Life Insurance Needs Estimator

There are a lot of excuses to not buy life insurance, "I don't need life insurance, my spouse will remarry" or "I have life insurance thru my company."  It is optimistic to think your spouse is such a catch that he or she could easily replace you even while trailing 2 kids and some extra pounds garnered over the years.  I personally would not want the financial future of my loved ones be dependent on whomever my partner could snag next!  If your family is financially dependent on you, you need life insurance and more than likely a lot more than your company provides.  MSN Money has a Life Insurance Needs Estimator that can help you figure out how much is needed to maintain your families current lifestyle without major changes.  I recommend starting with this tool by clicking on the blog title and then contacting a professional to work on meeting this need.  You don't want your family's final memory to be how much you left them in the lurch!

Insuring Teenage Drivers

The state association has some very useful information on how to insure your teenage driver andsome tips to keep them safe.  Check it out thier blog for this useful information.

Coverage Gap when Renting a Vacation Vehicle

Most people have experienced the hard sell at the rental car counter to purchase the collision waiver coverage for the vehicle being rented.   Due to the public being increasingly aware that their primary auto policy that includes physical damage coverage will apply to a temporary replacment vehicle i.e. a rental, there is no need to purchase this additional coverage.  This eliminated an income stream for the rental car companies.  To supplement this loss of income, they are now applying a diminished value rule to vehicles that are involved in an accident while rented.  For example; if a rented vehicle is damaged in an accident and is subsequently repaired,when it comes time for the company to sell that vehicle it will command a far less asking price due to the previous damage (diminished value).  The difference in the what they could have received and what they did receive due to the diminished value, is then billed to the renter months and possibly years after the original accident.  Some insurance companies are now addressing this issue with enhanced endorsements that can plug this gap in coverage.  Now is the time to speak to your agent regarding adding this coverage (if available).

Insurance Institute for Hightway Safety Top Picks 2010

Looking to buy a new car?  Check out this link to the most safe vehicles on the road.  Safety also equates to lower insurance premiums for those vehicles! 

Towing Tid Bit

Most people will carry full coverage on a newer vehicle and will add the towing and road service coverage.  How this coverage works is sometimes misunderstood.  For example, if you have a flat and the repair is made on site, the total amount of the repair is covered up to the towing and road service limit on the policy.  But, if the vehicle is towed to a repair facility and then the repair is made, only the tow is covered.  If possible take advantage of the full amount of towing coverage provided by having the work completed at the breakdown site.