All articles about Insurance

When Should I File a Home-Owners Insurance Claim?

We discussed in an earlier post ‘What is a CLUE Report’, how  a  Comprehensive Loss Underwriting Exchange, or CLUE Report, will track up to a seven year claims history for a property and property owner.  As you can imagine, a CLUE Report with multiple claims may cause issues if you are trying to buy, sell, or insure a property.  Most people are unaware of CLUE Reports and how they affect property ownership and protection.  CLUE Reports include not only accepted claims, but denied claims and inquiries.  They are meant to be a comprehensive record of all loss history on you as an individual and on a property. Continue reading When Should I File a Home-Owners Insurance Claim?

What Gives My Mortgage Company the Right to Hold My Insurance Claim Check?

The Escrow Department will likely be the same department that will cash and hold your insurance claims check. Don’t be surprised if your bank/lender actually place a hold on the check for up to five business days due to the protential for fraud given the number of mass losses that have occurred recently.

What is Title Insurance For?

What is Title Insurance For?

Why do I Need Title Insurance?

To some degree most of us have at least a basic understanding why we own and keep insurance on our auto, life and home.

When it comes to Title Insurance which might be the most important of types of insurance we will buy we tend to know very little. This is likely because most of us will only ever encounter it two or three times in our lives when we buy our dream home. Continue reading What is Title Insurance For?

What is Private Mortgage Insurance?

I have PMI?

What Private Mortgage Insurance and why do I have it?

Years ago when your grand parents bought a home they saved each extra penny they could until they had enough for a down payment that was equal to at least 20% of the  price of their dream home.

More likely your grand father was likely was  returning veteran of WWII or the Korean War and then they used their entitlements benefits under the GI Bill and probably bought their firs home with a VA loan with no money down.

For the rest of us who can’t put together a tidy sum of 20% in cash for a down payment on a home which in  Raleigh could be as much as $35,000 there’s Private Mortgage Insurance (PMI).
Private mortgage insurance exists in a variety of forms.

Here is an example of just a the most common;

Continue reading What is Private Mortgage Insurance?

Insurance Claims: Nightmare’s await Homeowners

Your home has been damaged by a tornado, flood, a tree fell on it in the recent Hurricane. Or as in my case when Mrs. Cobos  left the water in the upstairs bathroom running and flooded the second floor causing water to seep through to the ceiling below.

Tree Falls on House and Destroys it - Storm Damage - Raleigh North Carolina 2011
Storm Damage from April 16th Tornado in Raleigh

You’ve settled your claim with your home owners insurance agent and you have an insurance settlement check but it’s made out to you and your mortgage company; Continue reading Insurance Claims: Nightmare’s await Homeowners

Restoration Company or Contractor/Repairman

Raleigh, NC  –  Headlines have done little to make real for most of us what devastation, loss of life and economic livelihoods have occurred because of these disasters.

Serendipity Drive - Tornado Damage - Raleigh North Carolina
storm damage from April 16th tornado in Raleigh NC

It is hard for me to recall a time in my adult life that so many natural disasters have occurred in such a compressed period of time. To me it seems like it began with the Japan earthquakes and tsunamis resulting in the reactor melt downs and now with the flood waters on the Mississippi Delta. Continue reading Restoration Company or Contractor/Repairman

Top 6 Home Renovation Scams To Avoid

Scam artists are nothing new, but there are plenty of reasons to predict there will even more of them due to tough economic times. While they tend to prey on the elderly, anyone who is not cautious and informed is a potential victim. Your best defense is a skeptical mind and knowing what to look out for when you hear that offer that’s “too good to refuse.” Here are some of the most popular, and costly, home improvement scams.