Will Homeowners Insurance Fix Your Leaky Roof?

Will Homeowners Insurance Fix Your Leaky Roof?

When it comes to home ownership, one of the single most devastating acts of betrayal is when your roof, which is supposed to keep water out of your home, starts letting it in. The good news is that if you ever find yourself in a situation like this, your homeowners insurance can pay for the repairs. The bad news is that it will only do so under certain circumstances. Covered Perils vs. Non-Covered Perils Simply put: covered perils are things expressly stated in your homeowners insurance policy that, if they occur, will allow you to file a claim. Some common covered perils include: lightning strikes, falling objects, wind, hail, theft, vandalism, and explosions. Homeowners insurance policies will vary from policy-to-policy regarding which covered perils they include, so make sure to check your own for a complete list. Some common non-covered perils include: earthquakes (though you can get a separate earthquake insurance policy), floods, wildfires, and lack of regular and proper maintenance. Lack of Regular and Proper Maintenance It’s crucial to understand what your homeowners insurance policy defines as “regular and proper maintenance.” Most insurance polices, whether home, auto, or even life insurance, will include language that protects the insurance company from a policyholder’s claim if the damage is due to neglect. For example, you can file a claim if something damages your roof and causes a leak. However, if the leak is due to having neglected any sort of maintenance for several years, you’ll probably get stuck paying for any damages yourself. It’s important to note that time is of the essence when you notice your roof is leaking....
What Happens to My Auto Insurance if My Registration Expires?

What Happens to My Auto Insurance if My Registration Expires?

A lot of people have questions about exactly what happens with their insurance when their car registration expires. Does their insurance expire too, or does it keep going? Do they need to renew their auto insurance at the same time they renew their registration? If you’re one of those who has a question about vehicle registration and auto insurance, then read on. In short, nothing happens with your auto insurance policy when your registration expires – they’re two different things. As long as you keep current with your auto insurance premium payments, you will remain covered. However, if your insurance policy lapses, is canceled, or the term ends and you don’t renew it, you won’t be able to register your vehicle again until you do. To register your vehicle you’ll need to have it inspected, and most states (including California) require proof of insurance before they’ll allow you to officially register your vehicle. At the inspection, you’ll have to provide the following 3 things: a current photo ID, payment for the inspection (no matter if your vehicle passes or fails), and proof of insurance. You only need the bare minimum liability insurance to register your vehicle in California, which equals $15,000 liability coverage for the injury or death of one person, $30,000 of injury liability per accident, and $5,000 liability insurance for property damage. As long as you can provide proof that you have at least these amounts of liability coverage, you can register your vehicle. An unregistered vehicle typically doesn’t cost more to insure than a vehicle that’s already been registered. However, if your auto insurance coverage has...
Improvements that can Add Value to Your Home

Improvements that can Add Value to Your Home

It can get boring living in the same home year after year, but going through the hassle of selling your current home and buying a new one just because you’re bored really isn’t practical. That’s why a lot of people choose to make upgrades to their existing homes. Depending on the size and type of upgrade, the value added to your home may be on par with what you paid for the upgrade, so if you do ever decide to sell your home, you won’t be left in the hole. Below are a few of the most common home upgrades, and how you can make the most of them. Building a Deck Adding a deck to your home can really enhance your enjoyment of the outdoor living spaces around your home. Depending on its size, a good deck can run you on average anywhere from $2,000 to $7,000. Unfortunately, the addition of the deck likely won’t add that much to the price of your home. Bathroom Remodel If you want maximum bang for your buck, remodeling your bathroom is one of the best investments you can make. If you’re planning to keep the home for a while, go with what you like. However, for those who have a mind to sell, the best type of remodel will be something that includes amenities that a home buyer is likely to value. If you’re not sure, you can always ask a real estate agent. Kitchen Remodel Like bathrooms, remodeling your kitchen can pay off big time. Unfortunately, they’re also some of the most expensive remodeling projects you can undertake – even...