Insurance costs took off during the pandemic and more frequent natural disasters don't help. CBS News New York's Vanessa Murdock shares specifics about what every homeowner can do today to better protect themselves.
Homeowners insurance can be a hot issueDon DeBat
Why? Because, at that point, your family will be in good shape financially even if something happens to you—you’ll be self-insured thanks to your hard work. 4. Homeowners or Renters Insurance Homeowners insurance provides financial protection for your home and personal belongings. It’s ...
Financial advisors can help you figure outhow much home you can realistically affordwhile navigating theimpact of interest rates and other economic factorson your monthly mortgage payments. They can answer the many questions you’re bound to have about homeowners insurance, escrow and ways to boost...
Homeownership costs extend beyond down payments and monthly mortgage payments. Be sure to considerhow much home you can actually affordbefore you begin to hunt—not just for the home, but for a mortgage lender. “Make sure you factor in closing costs, moving costs, the home inspection, escrow...
Here are six steps to try if you can’t afford your homeowners insurance. Be proactive If you’re not sure you can make your next homeowners insurance payment, reach out to your agent or insurer as soon as possible — ideally before your policy lapses. Although there may be a grace perio...
Key takeaways:Reinsurers are the last line of defense against steeper homeowners insurance price hikes. But despite their involvement, premiums will eventually reach a price point homeowners can no longer afford—in Florida’s case, that’s almost 12% of homeowners. ...
For Florida homeowners, this is resulting in fewer home insurance companies and increased premiums. When a company goes insolvent, the Florida Insurance Guaranty Association (FIGA) takes on any claims that still need to be paid by that company. In August 2022, FIGA’s board and the Florida Off...
Based on our research,homeowners can expect to save an average of $1,530 on annual energy bills by installing a solar system.This means that it will take most people who install solar around 9 years to accumulate savings equal to the cost of their system. ...
HOA fees.Depending on where your home is located, you may be responsible for paying monthly fees to your homeowners association for community maintenance. Insurance costs.Homeowners insuranceis often required by lenders, and it’s an ongoing cost if you hope to protect your home in the event of...