Tag Archives: home insurance

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What is Personal Property Coverage and How Does It Work?

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Personal property coverage is the part of a home insurance policy that covers items like furniture, antiques, jewelry, clothes, and electronics. Every home insurance policy includes some personal property coverage, but depending on the value of your belongings, it may not be enough. That’s why insurance carriers offer several types of additional coverage for personal property.

Conduct a Home Inventory
The first thing you should do in determining whether you need additional personal property coverage is to conduct a home inventory of your valuables. This can be done by starting with the most recent, expensive purchases and working backward, or by taking inventory by room.

When taking an inventory of your belongings, include the approximate date purchased, the purchase price, and the estimated current value of the possessions in your inventory. Keep receipts of all major purchases with your inventory, as well as photographs of the belongings listed.

These inventories can be written on lined paper, pre-formatted files like this one provided by Foremost Insurance, or recorded into personal inventory apps, like Know Your Stuff, a free app from the Insurance Information Institute for iPhone and Android.

An inventory of your personal items makes it easier to see the total value of your property, indicating whether additional coverage is needed, or if the current coverage offered with your home insurance policy is sufficient.

Here is a useful video with tips on taking a home inventory and how it can benefit you in the event of a natural disaster.

The Different Types of Personal Property Coverage

If you need more coverage, it’s important to know the different types of coverage that are available.

Actual Cash Value
Belongings are often covered at their fair market value.  This equals the replacement cost minus depreciation. Actual cash value coverage pays out claims for their depreciated value (what you could hope to get at a yard sale or online auction for your property).

Replacement Cost Coverage
With replacement cost coverage, the insured property is covered for the cost to repurchase the item at the time a claim is filed. This means that the item is actually replaced in full, rather than paid out in a depreciated cash value.

Scheduled Personal Property
Scheduled personal property is an optional additional coverage that you can add to your home insurance policy to cover high-value items. Most personal property coverage has limits for individual items of around $1,000. If you collect fine art, jewelry, or other items that can be worth well over $1,000, scheduled personal property can help to cover your collections or prized family heirlooms.

If you’re interested in adding additional coverage to your homeowners’ insurance policy, or have questions pertaining to your current policy and coverage, please contact your Yetter Insurance agent by calling (570) 296-8329, or visit http://yetterins.com/.

 

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Yetter Insurance Agency is a family-owned business, located in Milford, PA, that offers a variety of homeowners’ insurance options for Pennsylvania and New York residents. Yetter has been a leading insurance agency in Pike County, PA since 1972. We offer plans from top-rated carriers that fit every need and budget. If you’re interested in expanding or changing your coverage, please contact one of our skilled agents today. For more information, please visit http://yetterins.com.

Sources:
http://www.foremost.com/mygreathome/home-safety/insurance/personal-property-inventory.asp
https://www.progressive.com/homeowners/home-owners-insurance-coverages/


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Seasonal Home Insurance for Pike and Wayne County, PA

How to Winterize and Close Your Vacation House for the Season

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Locking up and winterizing summer vacation homes is something that many Americans do each year, but it’s important to do it right. Many things can go wrong over the long, cold winter months, and if you don’t properly winterize your vacation home, you could be met with an awful surprise when you open the house back up in the spring. Follow these steps to ensure that your summer vacation home is safe throughout the long winter season:

  1. Make a checklist
    It’s important that you don’t miss any steps in winterizing your summer vacation home. By making a checklist and checking off tasks as you complete them, you ensure that you don’t miss any of the vital steps required in safeguarding your home from the potential dangers that it faces from winter weather and several months of being uninhabited. A checklist will also stand as a reminder of what needs to be done when re-opening the house in the spring.
  2. Clean
    To reduce the amount of work required in re-opening the house in the spring, you’ll want to clean the house thoroughly before winterizing and closing it up. You’ll want to focus much of your attention on cleaning the kitchen. Clean out the refrigerator and freezer completely, and prop the doors open to prevent the growth of mold or mildew. Remove all food from the pantry. Any non-perishables can be transferred to metal containers to prevent rodents from gaining access to them. Make sure to dispose of any potential fire hazards.
  3. Turn off water
    Make sure to turn off the main water supply, usually located along the exterior of the house. After turning off the water access, run all taps in the house, flush all toilets, and empty water heater to clear the waterlines. This will prevent freezing or bursting pipes. Cover all toilets with Saran wrap to prevent sewer gasses from entering the home.
  4. Adjust the thermostat
    Ideally, you want to set your thermostat to the lowest temperature that will protect the home from freezing.
  5. Unplug all appliances
    This step can be skipped if you plan to shut off all power to the house, but if you leave the electric power on, you’ll want to unplug all appliances. This includes major appliances such as the refrigerator, oven, and washing machine, as well as your television, computer, and lamps. This will help prevent accidental fires due to a faulty switch.
  6. Shut off gas
    If the house utilizes gas for heating or cooking, you’ll want to shut off gas lines to the house to prevent accidental fires.
  7. Store outdoor furniture and decorations
    Move all outdoor furniture and garden ornaments indoors to protect them from weather and theft.
  8. Lock away vehicles
    Any vehicles that you keep at your summer home, be it a car, boat, ATV, or bicycle should be locked in a garage or shed to prevent the threat of theft.
  9. Stop your mail
    Contact the post office and stop routine delivery of mail during the winter months. This can be done at http://usps.gov. If there is a neighbor that you trust, ask them to keep an eye out for package deliveries from UPS or FedEx.
  10. Lock the house at all points of entry
    After you’ve completed everything else on your checklist, lock all the doors and windows in the house. If you have a neighbor that you trust, give them a key to the house and ask them to check in on it sporadically.
  11. Talk to your insurance agent
    Do you have vacation home insurance? If not, it’s pertinent that you speak with an insurance agent about covering your vacation home. Many things can go wrong in a vacation home when it’s empty throughout the winter. Make sure you’re covered for any potential problem that may arise while you’re away.

Accidents happen, and you can never eliminate all risk, but by following the simple tips in this article you can minimize the risks associated with closing up a vacation home for the winter. For information about your vacation home policy, or to buy a new policy, please contact your Yetter insurance agent by calling (570) 296-8329, or visit http://yetterins.com/.

 

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Yetter Insurance Agency is a family-owned business, located in Milford, PA, that offers numerous seasonal home insurance options for Pennsylvania and New York residents. Yetter has been a leading insurance agency in Pike County, PA since 1972. If you own a vacation home in the area or are thinking about buying one, our agents can help you find the right insurance for your secondary property. For more information, please visit http://yetterins.com.

Source: http://www.wikihow.com/Winterize-a-Vacant-Home


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Avoid House Fires, Have the Right Homeowners or Renters Insurance for Pike County PA Homes

How to Avoid the Four Cs of Holiday Fires

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The holidays are a joyous time, but the celebration also marks the 14 worst days of the year for home fires. More household fires occur between December 24 and January 6 than any other two-week stretch of the year. Christmas trees, cooking, candles, and chimneys are all contributing factors. Let’s discuss the “four Cs” of holiday home fires and how to prevent them.

Cooking
Cooking is one of the leading causes for home fires year-round, and the holidays are no different. Stove-top cooking presents the biggest threat. Many fires start when something is cooking on the stove and the cook becomes distracted or leaves the room. A fire can happen in just seconds, so by the time they return their attention to the stove, the fire is already out of their control.

These fires can be easily prevented. Never leave cooking food unattended. If you absolutely must leave the kitchen, turn off any stove-top burners. Oven fires are also possible, but far less common. While you don’t necessarily have to linger over the stove the entire time something cooks in the oven, you should never leave the house when something is cooking in the oven. If you absolutely must run to the store to pick up a forgotten ingredient, turn the oven off before leaving the house.

Christmas Trees
Christmas trees (both real and artificial) cause hundreds of home fires every holiday season. The leading cause Christmas tree fires include electrical malfunction and the tree being too close to a heat source or flame.

When buying a pre-cut Christmas tree, make sure to buy one with fresh, green needles. You should only keep your tree up for about two weeks, so don’t buy your Christmas tree too far in advance. Water your tree every day. If you prefer to use an artificial tree, make sure to buy one that is fire-retardant. Don’t string more than three sets of lights together. Visually inspect all lights before putting them on your tree for loose bulbs and frayed or damaged wires. Unplug all string lights before leaving the house or going to bed. Most importantly, keep your tree at least three feet from any heat source or flame.

Candles
Candles are very popular around the holidays and create obvious risks regarding home fires. The most candle related fires occur on Christmas day, followed by Christmas Eve and New Year’s Day.

The best way to avoid candle fires is to not use candles, but there are ways to reduce the risk while still using them. You should use quality candle holders that don’t tip over easily, collect dripping wax, and are inflammable. Never place candles near flammable items such as books, curtains, furniture, and clothing. Most importantly, never leave burning candles unattended.

Chimneys
The holidays are a great time to gather around the fireplace with family, but don’t forget that chimneys still need to be cleaned every two years or so.

If you regularly use your fireplace in the wintertime, and you haven’t had your chimney cleaned in the past few years, then it’s time to call a chimney sweep. This is because a substance called creosote builds up in the chimney and can fuel a chimney fire when ignited. You can slow the buildup of creosote by burning only dry, seasoned wood, and refrain from burning things like wrapping paper, fresh wood, boxes, and trash. Always use kindling or paper to start fires, never use flammable liquids in a fireplace. Use a screen in front of the fireplace to catch any potential sparks that erupt from it. Most importantly, never leave a fire burning unattended.

Accidents happen, and you can never eliminate all risk, but by following the simple tips in this article you can minimalize your risk of a home fire dramatically. For information about your policy and how it pertains to home fires, or to buy a new policy, please contact your Yetter insurance agent by calling (570) 296-8329 or visit http://yetterins.com/.

Sources:
http://www.nfpa.org/public-education/by-topic/wildfire-and-seasonal-fires/winter-holiday-safety/holiday-fires-by-the-numbers
http://www.redcross.org/news/article/Prevent-Home-Fires-This-Winter


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