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| Jan. '06 |
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Happy New Year and Welcome to 2006! As we kick off another great year in the real estate business it’s a great time to look at any new legislation. In this month's newsletter we have included a piece that highlights the recently changed laws regarding Bankruptcy. Also included is an article on evaluating your current insurance coverages (remember the Firestorm of 2003?). Finally, we have included a list of all the Broker Caravan meetings and schedules…Make it a great year!! |
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New Bankruptcy Law
It will no longer be easy to erase your debts - including your home mortgage...
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Is Your Insurance Up To Par?
The first of the year is upon us. We are soon to make New Year's resolutions -- and not long after we are fairly certain to break them.
But the turn of the calendar is also a good time to do something in real estate that has become increasingly important: Check your insurance coverage.
I bring this up not only because we have recently seen various hurricanes, floods, tornadoes, fires, windstorms, earthquakes and other tribulations of historic proportions, but also because the nature of homeowners insurance is changing.
To start, it's perfectly plain that homeowners insurance is something one never uses except in a dire and substantially-expensive emergency. Small claims are foolish -- they can lead to higher rates and outright cancellations.
Since small claims are hazardous to your coverage, it makes sense to increase your deductible. Instead of $500 go to $1,000 or more. After all, you're not going to jeopardize coverage over $500 so why have such a small deductible? A higher deductible will reduce premium costs and that's a good way to start the New Year.
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