Homeowner Insurance Basic Coverages

Paradiso Insurance Helps Residents Avoid Super Bowl Party Mishaps with Safety ...

Paradiso Insurance Helps Residents Avoid Super Bowl Party Mishaps with Safety Tips and Connecticut Homeowners Insurance While watching the home team make it to playoffs is exciting, the team at Paradiso Insurance wants to ensure that all of its clients who plan on hosting Super Bowl gatherings are covered against the many potential risks that are associated with these parties and that could easily lead to claims on residents’ Connecticut homeowners insurance policies.

Stafford Springs, CT (PRWEB) February 01, 2012

The Super Bowl is one of the biggest days of the year for parties. Whether it’s a family event or an outing with friends, many Connecticut residents are likely gearing up for some type of Super Bowl viewing party on February 5. While watching the home team make it to playoffs is exciting, the team at Paradiso Insurance wants to ensure that all of its clients who plan on hosting Super Bowl gatherings are covered against the many potential risks that are associated with these parties and that could easily lead to claims on residents’ Connecticut homeowners insurance policies.

Paradiso Insurance would like all of its clients and fellow New England residents to consider taking the following precautions in order to avoid claims on their Connecticut homeowners insurance policies this Super Bowl Sunday: When planning the party, be sure to avoid foods that young guests could easily choke on such as nuts, hard candy, grapes and popcorn. In addition, be aware of any food allergies that guests may have. Don’t leave food on the cooking range since this can easily lead to a house fire. According to the National Fire Prevention Association, unattended cooking is the leading cause of home fires. Once guests enter a home, they become the responsibility of the homeowner. Therefore, party hosts should ensure that none of their guests drive home after they have consumed alcohol. Ensure that particularly valuable items like big screen TVs and laptops are covered by the home’s insurance policy. This way, homeowners will be able to replace these possessions if they are damaged by an overenthusiastic fan.

Homeowners Insurance | Things you may have not known

An Owner’s Title Insurance Policy is purchased one time, often at the subject properties initial settlement and is good forever.  The title insurance even protects the buyer’s heirs and beneficiaries.  Homeowners insurance, otherwise known as “Hazard Insurance” is much different.  When buying a property most homeowners elect to purchase some form of homeowner’s insurance (HOI) policy.  In fact because most home purchasers use a mortgage to finance part of their purchase a HOI policy is a must since the lender requires their investment be protected.

The types of various coverages a HOI policy provides are numerous and not the subject of today’s post. What is most important today are some facts that most homeowners, investors and even professionals in the industry lack the understanding of.  The following few questions are items all home buyer’s, home owners, realtors and mortgage professionals should understand when it comes to a HOI policy.

 

This is a common issue especially with many transactions I have seen lately.  As a realtor listing a property your worse night mare can come true if an estate has hired you to sell a property (or even properties) and all of a sudden the property sustains a major loss.  Whether it’s via a storm, vandalism, theft, etc. it is vital that the property is protected and unfortunately the prior policy that was in place may have been cancelled unbeknownst to your clients. Make sure the estate was named as an additional insured to be covered.  That being said not all companies will insure a home held in an estate.

Even more importantly if the home becomes vacant specific insurer’s could drop coverage all together. Binding a vacant home policy would be extremely important in this situation.  We have seen in the past an estate market a home, the insurance carrier cancels the policy due to vacancy and sends notice to the property.  No one catches it on time and, uh oh… no insurance.  This can be even more essential to take note of for investment properties when a tenant moves out.  Make sure your insurer understands there will be a vacancy and be certain that coverage will not lapse.