The replacement value of a home for the purposes of a New York homeowners insurance policy is the amount it would cost to rebuild the house to its current specifications after a fire or other disaster. The cost of homeowners insurance premiums is heavily influenced by your home’s replacement value, so when you review homeowners insurance coverage it’s important to make an accurate estimate.

Don’t confuse the insurance replacement value of your home with its market value. Your home’s market value includes the plot of land where home is built, but if the home has to be rebuilt it’s only the structure that is replaced. 

The cost of building a house includes building materials and other cost factors such as labor. These prices tend to rise steadily over time, so to ensure that you are fully covered for the cost of reconstruction you should take some time each year to recalculate the building replacement of your home and adjust the building replacement coverage of your homeowners’ insurance policy accordingly.

Being forced to evacuate your home while it is being rebuilt after a disaster may involve heavy additional living expenses for you and your family, such as the cost of temporary rental accommodation. As part of your review of coverage, consider the extra living expenses you might face during rebuilding of your home after a disaster. Talk to your agent or insurer if you are unsure whether your New York homeowners insurance coverage for building replacement and additional living expenses is adequate for your needs.

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Homeowners can install protective devices to keep their possessions safe from theft, and purchasing New York homeowners insurance also provides financial protection from theft losses. There are also quite a few low cost but effective ways of deterring would-be thieves.

• To prevent a burglar from being able to see into your garage, fit opaque or frosted glass panes in garage windows. An obviously empty garage indicates that you may be away from home.
• Always lock ladders away after use. A burglar can use a ladder to access upper floor windows which may be less secure than ground floor access points.
• Keep hedges and shrubs trimmed so that they don’t create a shelter or screen for a thief. While you’re in the garden, consider planting thorny bushes below windows: an inexpensive but effective deterrent!
• Don’t unwittingly advertise the fact that you’ve just acquired a valuable new possession; when you buy a new computer or television, keep the packaging out of sight and cut it up before putting it out with the trash.
• Consider having a house sitter live in if you’re going to be out of town for a while, or arrange for someone to visit your home regularly to check that all is well, collect mail, and make the place look “lived in”.

Don’t rely on New York homeowners insurance to provide protection from theft. Prevention is always better than cure when it comes to home security, and common sense is your best defense against burglars and criminals.

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Have you read through the terms and conditions of your New York homeowners insurance policy several times but still don’t understand it? Anyone who has tried to make sense of insurance coverage but is still uncertain what is included and excluded should consider talking to a local insurance agent.

A local insurance agent will take a personal interest in your insurance affairs and help you to get the right protection at a value for money price. 

• An insurance agent can help to address any gaps in your insurance coverage; for example, inheriting a valuable art collection is likely to warrant a review of your coverage home insurance coverage.
• An insurance agent can help you to assess the replacement value of your home and review coverage so that if disaster strikes the home can be rebuilt to current standards.
• An insurance agent is likely to encourage you and help you to prepare a home inventory, an important document that helps to prove ownership and value of your possessions in the event of a claim.
• An insurance agent can help you to claim any incentives and discounts that may reduce the annual cost of your insurance.

Insurance is complex and specialized. Why try to reinvent the wheel and make sense of it all yourself? Have a friendly, knowledgeable and experienced insurance agent explain and clarify the technicalities of New York homeowners insurance that have you puzzled.

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 NYC Blizzard 2010 via nycmagazine.com

People carry insurance as protection from the financial consequences of the worst scenario they can imagine. A disaster like a house fire, auto accident, business lawsuit, or death can be devastating but insurance protection can ease some of the financial pain. For people who have a hazy notion of the sort of insurance protection they want but are not sure which policies best meet their needs it’s a good idea to engage a local insurance agency in New York. Agents can offer a range of assistance that could save you both money and time.

An insurance agent can help you with your choice of a home insurance policy and other insurance products such as life insurance, business insurance, and auto insurance for your personal or business vehicles.

An insurance agency can request quotes from a range of insurance providers. Also, an agency can help you with the complex task of comparing competing quotes, selecting a policy that suits your situation and deciding on the level of coverage you need.

Your insurance agent can help you to apply for insurance coverage, but their services don’t stop when you have purchased an insurance policy. They should remind you when your policy is due for renewal, and help you to work out whether coverage should be reviewed. You can call on your insurance agency for assistance if you need to file an insurance claim; after helping you to file the claim the agency can track its progress and keep you informed of developments.

It’s a good idea to schedule an annual appointment to consult your insurance agency in New York. Life can be hectic, but it’s important to devote some time each year to a review of your insurance coverage. Don’t let the next natural disaster ruin you!

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 Brand new washing machine!

Are you considering replacing that old workhorse, your washing machine? The washing machine truly is a labor saving device: just think how many hours you’d spend at the wash tub each week if you had no washing machine. Because washing machine technology is fairly straightforward the appliances are quite reliable but when things do go wrong with a washing machine there’s a risk of flooding, water damage and claims on your New York homeowners insurance.

It’s a good idea to spend some time researching the types of washing machines that are available, because your new washing machine will probably be used regularly for many years. Some of the factors that you might want to consider include:

• Top loading styles are more popular and affordable and are also easier to load and unload than front loading styles.
• Washing machines with high EnergyStar ratings are more energy efficient and more economical to run than machines with lower ratings.
• Front loading washing machines use less water than top loading machines.

Floods in laundry rooms are most often caused by split or damages water hoses. Keep an eye on the hoses and connections during the years your machine is in use, and replace hoses immediately if you notice signs of wear or damage. Regular inspection of your washing machine might help to prevent a washing machine failure, and avoid the inconvenience of mopping up after a floor flood and the drama of filing a New York homeowners insurance claim. With C.H. Edwards, Inc., you can get the coverage you need for your home. Contact us today for more information!

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A homeowner
who has not yet created a home inventory is at risk of being underinsured or
being unable to support a claim for insurance compensation. An up-to-date home
inventory helps you accurately estimate the value of your belongings when you
review your New
York homeowners insurance coverage. It’s also a useful
checklist so that no item is overlooked if you need to file an insurance claim.

There’s no
set format or medium for a home inventory but many people find that using a
spreadsheet for the basic information helps with making rapid automatic
calculations of value and depreciation figures. 
Here are six easy steps towards creating a comprehensive home inventory.

1.   
Start by listing major possessions like valuable jewelry and
artworks and go on to list furniture, home appliances, collections and family
heirlooms.

2.   
Don’t forget to add commonplace belongings such as cutlery,
pots and pans, linen and bedding, hand tools, sports equipment, and clothing. Look
inside drawers and closets.

3.   
Photograph major items, record descriptions and other details
like age, model and serial numbers, purchase price and current value, and
attach copies of sales receipts and appraisal certificates if you have them.

4.   
Separate the list into logical sections such as by the room
in your home where an item is kept.

5.   
Store the home inventory and other associated documents in a
safe deposit box, fire proof box or online file.

6.   
Update your inventory annually and whenever you make a major
purchase.

Don’t be
deterred from creating your inventory because some documents like sales
receipts are missing; it’s far better to have an almost-complete inventory than
no inventory at all. Spend some time now to create your home inventory – if you
ever need to claim on your New York
homeowners insurance coverage you’ll be glad you did! With C.H.
Edwards Insurance, you can get the coverage you need with our agency. Contact
us today for more information!

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A great winter vacation can be ruined by returning home to damage caused by severe winter weather.

Most New York homeowners insurance policies require that you use reasonable care to maintain heat in the dwelling, or shut off the water supply and drain the plumbing system while the dwelling is unoccupied for extended periods of time.

Taking Care of Your Water Pipes While On Vacation
Water pipes are especially vulnerable to damage during cold weather. Water pipes can freeze and burst. Pipes that are most vulnerable are located in attics, crawl spaces, and outside walls. There are several simple precautions homeowners can take to reduce the chances of these pipes freezing.
-Pipes that are accessible can be fitted with foam or fiberglass insulation sleeves, or wrapping. The thicker the insulation, the better. It’s important not to leave any gaps in the insulation that expose the pipe to cold air.

-All cracks and openings in outside walls and foundations near water pipes should be sealed with caulking or foam insulation. Recheck sealed areas, as caulking can crumble with age and let in cold air.

-Keep kitchen and bath pipes exposed to warm air from your heating system by keeping cabinet doors open during periods of extreme cold.

-If you have a crawl space, make sure the outside air vents underneath the flooring are closed.

-For short absences, allow all your faucets to drip a steady stream of water. It is important to remember that if both hot and cold water pipes serve a single faucet, each one should contribute to the water flow, since both pipes are susceptible to freezing. You may wish to consider draining your water system and shutting off the main valve for extended absences

-If you return home and suspect a pipe is frozen, turn on all faucets. If a pipe has already burst, turn off the water at the main shut-off valve and call a professional plumber immediately. (Keep your faucets open until the pipe is repaired.) Never try to thaw a frozen pipe with a torch or other open flame!

TV wall mounts have been designed to be easily put up by a homeowner who has fairly basic carpentry skills. However, installation of a TV wall mount may also require some electrical work to conceal the cables in the wall cavity. This part of the installation should be carried out by a licensed electrical contractor to avoid compromising your New York homeowners insurance coverage.

A TV wall mount is a device for mounting flat screen LCD or plasma TVs onto a wall. There are many different designs on the market, and designs are available in several sizes to suit different weights and screen sizes. Choose a design of TV wall mount that suits the type of TV it supports:

• Arm mounts that allow you to swing the TV away from the wall can be suitable for small screen TVs that are watched in the kitchen. 
• Tilting wall mounts are designed for large screen LCD or plasma TVs that will be viewed from chairs in the living room. This type of mount allows the TV to be placed high up on the wall and the screen can be tilted to offer the best viewing angle.
• Motorized TV wall mounts that allow you to adjust the viewing angle remotely are suitable for large viewing rooms with multiple seating positions.

Most TV wall mounts are relatively inexpensive pieces of hardware and the mounting of the hardware on the wall is a simple job for a home handy person. Concealing TV cables in the wall cavity is a job best done by a professional. Don’t forget, if you are purchasing a big new television, keep your receipt and make sure you have adequate coverage for your home contents on your New York homeowners insurance. With C.H. Edwards, Inc., you can receive the coverage you need for your home. Contact us today for more information!

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