Preventing the Most Common Insurance Claims

In 2005, the most common property claims reported to Nationwide® were related to:

1. Wind
2. Water damage (non-weather related)
3. Lightning
4. Theft
5. Water damage (weather related)
6. Ice – sleet – snow
7. Hail
8. Fire
9. Other physical damage
10. Liability and medical payments.

If you’re buying a new home or preparing your home for sale, here are a few simple things to help you reduce the likelihood of a claim, lower costs and keep you safe.

Trees: Inspect trees near your home for health. And make sure they are not growing too close to your roof. If in doubt, have a bonded, licensed and insured arborist examine them.

Roof: Make sure your roofing shingles and flashing are in good condition. Broken or discolored shingles may need to be replaced.

Gutters: Clean, level gutters are a sign of good roof maintenance. Make sure that down spouts deliver gutter water away from your foundation.

Siding: If your home has aluminum or vinyl siding, inspect it for missing pieces or disjointed interlocks. Also, make sure it fits flush to your home.

Foundation: Check your house’s foundation a few times a year for cracks and other signs of settling.

Deck: Check your deck or porch for signs of age including wobbliness, splintering or warping of planks and exposed nail heads.

Garage: Inspect your garage floor for evenness. If you have an electric garage door, check the obstacle sensor to make sure it’s operating properly. Install a carbon monoxide sensor and test it periodically.

Plumbing: Consider having a professional plumber inspect all pipes, fixtures and water heaters. Sinks and tubs should drain rapidly. Any pipes in the crawl space or basement should be properly insulated to prevent bursting during a freeze.

Weather-strips and Caulking: All windows and doors should have weather seals properly fitted. Caulking around tubs, toilets and sinks should not be excessively dried or cracked.

Electrical Outlets: Verify that your electrical receptacles have faceplates and are properly grounded. Outdoor, bathroom and kitchen outlets should be equipped with ground-fault circuit interrupter outlets.

Smoke Alarms: Be sure to have at least one smoke alarm per floor. Test each regularly. Some smoke alarms can be linked so that people on one floor are alerted if there is smoke detected on another floor.

Security: All doors accessible to the outside should have deadbolts or similar locking systems. Keep track of all house keys. Make sure spares are in a secure location – not under a flowerpot or doormat. Consider enrolling in a subscription-based security monitoring program.

Get Flood Insurance: Many people live in a potential flood zone! However, flood damage is often not covered by traditional insurance policies. Purchase flood insurance from a trusted insurance partner participating in the National Flood Insurance Program.

Keep these tips in mind when moving in or moving out. Because preparing for the unexpected can help protect you from the unimaginable.

Provided by:
Nationwide Insurance & Lowes

Real Estate and Emotion vs. Reason

If you are selling a home, Real Estate Agents tend to refer to the property you're selling as a "house." If you are buying a house, agents will often refer to it as a "home." Why is this? Because when you are buying a home, it is more than "just" a purchase. It is where you go "home" after a hard day on the job, where you raise your kids, where you watch the Super Bowl, barbecue in the back yard, or plant flowers each year to admire their blooms. You aren't buying a space to eat and sleep, you're moving into your private "safe haven" - a place you'll call "home" for years to come. Someday, you will sell that house, and when you do - someone else will call it "home". If you're still thinking of it as your home, selling is more difficult.

How do you let go?

It is very difficult, but necessary. To sell your home effectively, you need to make rational decisions. You need to let go of all the little touches you've added to the property and not be connected emotionally. Most "home improvements" don't add as much value as you might think -- they might not have as much appeal to a potential buyer as they do to you. The buyer is looking at your house and imagining it as his or her home. You need to help them. Take your photos off the walls. Remove the sports trophies from the fireplace mantle. Clean the "junk" out of those drawers in the kitchen. Remove whatever you may have accumulated in your garage, basement or attic. If you want to keep it, put it in storage and pick it up when you move.

Sell a house. Help someone else find a home.

"Will You Cut Your Commission??"

I regularly visit Yahoo! Answers and there is always someone out there who asks how they go about getting an agent to cut commission. Why does he/she need to know? I understand that people like to save money, believe me . . . I do, too! But let me ask you this . . . do you work? You do? Well, you know that person that owns the company at which you work and who pays you? Not the Payroll Clerk--but the person who REALLY pays your salary or wages. Now answer this: Do you think that person has a burning desire to pay you the money that you think you'veearned?

NO! Your boss doesn't want to pay you, anymore than you want to pay your agent! So, why does your boss pay you? Because you earned the money . . . You showed up for work & did what you were hired to do (hopefully)! If your boss would've asked you to take a pay cut, would you have? Not likely! So why is it okay, in a seller's mind, to ask an agent to take a pay cut? Because you want to save money, right?! I'm sure your boss wants to save money, too, but he/she hasn't cut your pay (at least, not yet).

Real Estate is one of the few industries in which people work, and if they don't do what they were hired to do (sell homes), they do not get paid. Can you say the same for your job?

5 Things To Do Before Listing Your Home for Sale

1.) Get estimates from a reliable handyman or technician for items that need to be replaced or repaired soon, such as a roof or worn carpets. Either have the items replaced or repaired before listing your home or offer to give the buyer a repair or decorating allowance, in an amount that is equal to that of the estimates provided to you.

2.) Have a termite and wood-destroying insect inspection. If the home is not infested, attach the inspection report to the Seller's Disclosure Notice, as provided by your REALTOR. Potential buyers will see firsthand that the property is not infested, giving them peace-of-mind and confidence in submitting an offer on the property. However, if the property is infested, have the infestation treated and any damage to the property [resulting from the infestation] repaired by a professional.

3.) Be pro-active and get a home inspection (separate from the inspection the buyer may get). If any items do need to be repaired, you can have them repaired prior to listing the home for sale and reduce the chance of a buyer backing-out of a contract due to the condition of the home or need for repairs.

4.) Gather all user's manuals, warranties and guarantees on the furnace, appliances, and other items that will remain with the house.

5.) Fill out a disclosure form provided by your REALTOR. Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale. And remember, honesty is the best policy, so answer each question with an honest answer, even if you're worried that some buyers may lose interest in the property.