Average Home Owners Insurance Cost

Adapt to extreme weather or pay price, expert warns

Villagers north of the Philippine capital, Manila, wade through floodwaters caused by Typhoon Nalgae on Oct. 2, 2011. Typhoons, cyclones and other severe weather events are becoming more frequent and are taking a greater toll on the world's population, says a report by the Intergovernmental Panel on Climate Change. (Cheryl Ravelo/Reuters)

The Intergovernmental Panel on Climate Change (IPCC) released a report Friday examining the risks posed by extreme weather events, which the panel says are becoming increasingly frequent around the world. We talked to one of the report's co-ordinating lead authors about what general trends he and his colleagues found and how these trends might impact Canada.

Gordon McBean is a professor of geography and political science at the University of Western Ontario in London, Ont., and the director of policy studies at the Institute for Catastrophic Loss Reduction. He is also chair of the Canadian Foundation for Climate and Atmospheric Studies and president-elect of the International Council for Science.

Extreme events

Definitions of what constitutes an extreme weather event vary, but for the purposes of the IPCC, the definition is based directly on measurements of things like temperature, wind velocity, precipitation levels and storm surge heights and where those measurements fall in a given region's weather distribution pattern.

Generally, a weather event is considered extreme if it is as rare or rarer than the 10th or 90th percentile. For example, if the rainfall distribution for a given city is that only one in 10 rainfall events produce 90 mm or more of rain per day, then an extreme rainfall event would be any that produced 90 mm or more of rain.

Certain industries, however, have their own definitions.

"Other people in the disaster risk-reduction community would define an extreme event as one that, say, causes more than $1 million in damages," McBean said.

What other studies have said

A Princeton University study published in the Journal of Climate in October suggested periods of sunshine and rainfall have become more volatile: erratic patterns of sun and rain have increased 25 per cent in 25 years.

Hidden Homeowner Costs of the Real Estate Gig Harbor Wa Offers ...

You have finally decided to make the leap from renting and now want to search the real estate Gig Harbor Wa provides. Before making the big leap it is important to remember that there is a lot more than your mortgage and monthly payments to pay when purchasing a property.

The first surprise for many new home owners is property taxes. The main source of revenues for counties, municipalities, and school districts are property taxes. The average property tax in the United States is 1.38%. If you own a condo sometimes there are additional taxes as well. It is smart to figure your potential Gig Harbor Wa real estate property tax obligations before purchasing the property.

The second surprise is that of Private Mortgage insurance or PMI. If you paid less than a 20% down payment to the bank then you will be paying PMI. PMI allows you as the buyer to pay a down payment lower than 20% and is an insurance that protects the lender from you defaulting on the loan.

Don’t forget you can’t even get a loan without home owners insurance, so that is another cost to keep in mind. Home owners insurance typically doesn’t cover natural disasters like floods, hurricanes, earthquakes, etc. So if you are in an area that is exposed to these disasters you might need supplemental insurance. Also, if you have a lot of valuables in your home it always a good idea to get those insured.

Finally, remember that now that you have a new home you are probably going to want to decorate to make it look how you want it to. This always results in more costs to you. Along with this repairs and maintenance are things to consider as you research the real estate Gig Harbor Wa has.

Average Home Owners Insurance Cost | What Everybody Ought To Know About Average Home Owners Insurance Cost

Average Home Owners Insurance Cost | What Everybody Ought To Know About Average Home Owners Insurance Cost

Average Home Owners Insurance Cost | What Everybody Ought To Know About Average Home Owners Insurance Cost

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