Archive for April, 2008

Putting in a Pool? Cover it with insurance (and a solar cover)

Saturday, April 12th, 2008

I’m installing a pool—what kind of insurance do I need?

All pools—from a simple above-ground kiddy pool to an aquatic extravaganza—can be dangerous and need to be properly insured and comply with local safety standards.

According to the Center for Disease Control, over 3,200 people drown each year. Among children, ages one to four, most drowned in residential swimming pools. Most of these young children had been out of sight for less than five minutes and were in the care of one or both parents at the time.

If you plan to purchase a pool, the I.I.I. suggests that you:

  • Contact your town or municipality
    Each town will have its own definition of a “pool,” often based on its size and water depth. If the pool you are planning to buy meets the definition, then you must comply with local safety standards and building codes. This may include installing a fence of a certain size, locks, decks and pool safety equipment.
  • Call your insurance agent or company representative
    Let your insurance company know that you have a pool, since it will increase your liability risk. Pools are considered an “attractive nuisance” and it may be advisable to purchase additional liability insurance. Most homeowners policies include a minimum of $100,000 worth of liability protection. Pool owners, however, may want to consider increasing the amount to $300,000 or $500,000.You may want to talk to your agent or company representative about purchasing an umbrella liability policy. For an additional premium of about $200 to $300 a year, you get $1 million of liability protection over and above what you have on your home. It would also provide added liability protection when you drive.

    If the pool itself is expensive, or if you decide to install an in-ground structure, you should also have enough insurance protection to replace it in the event it is destroyed by a storm or other disaster.

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Can a renter get insurance for her home?

Tuesday, April 8th, 2008

Renters insurance provides financial protection against the loss or destruction of your possessions when you rent a house or apartment. While your landlord may be sympathetic to a burglary you have experienced or a fire caused by your iron, destruction or loss of your possessions is not usually covered by your landlord’s insurance. Because in most cases, renters insurance covers only the value of your belongings, not the physical building, the premium is relatively inexpensive.

By purchasing renters insurance, your possessions are covered against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and water damage (not including floods). Like homeowners insurance, renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.

Renters insurance covers your additional living expenses if you are unable to live in your apartment because of a fire or other covered peril. Most policies will reimburse you the difference between your additional living expenses and your normal living expenses but still may set limits as to the amount they will pay.

There are two types of renters insurance policies you may purchase:

  1. Actual Cash Value – pays to replace your possessions minus a deduction for depreciation up to the limit of your policy
  2. Replacement Cost – pays the actual cost of replacing your possessions (no deduction for depreciation) up to the limit of your policy

With either policy, you may want to consider purchasing a floater. A standard renters policy offers only limited coverage for items such as jewelry, silver, furs, etc. If you own property that exceeds these limits, it is recommended that you supplement your policy with a floater. A floater is a separate policy that provides additional insurance for your valuables and covers them for perils not included in your policy such as accidental loss.

Thanks to: III.org

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Consumers Fail to Properly Back-up Digital Libraries

Saturday, April 5th, 2008

Here’s a great bit of advice from appliance.net

Americans are not backing up their digital photos, music, documents or other types of files, according to a new study released today by the Consumer Electronics Association (CEA)®. Results of the study, Amassing Digital Fortunes: A Digital Storage Study, show that nearly one in three consumers don’t see the need to back up their files, while nearly a quarter (22 percent) say they aren’t backing up files because it’s too time consuming. “The issue appears to be a combination of lack of awareness of storage options and ease of use,” says CEA’s Director of Market Research, Tim Herbert. “Generally, consumers don’t know how to back up their data and if they do, they’re failing to back up data because they claim it takes too much time.”

The average American adult has 1,800 digital files, totaling 310 billion digital files nationwide. With another 1,060 being added per user in 2008, the total number is expected to hit just under 500 billion by the end of the year.

“The sheer amount of data being amassed every day creates tremendous opportunities for the digital storage market,” says Herbert.

Photos (85 percent) and music (67 percent) comprise the largest percentage of stored files, making them more common than productivity files, like home office documents (59 percent), which ranked third.

Research results show that consumers are satisfied with their storage options. Eight out of 10 respondents reported using their home computer as their primary long-term storage option. For back-up, over three quarters of people surveyed (77 percent) burn their files onto a CD or DVD. Over a quarter (29 percent) of those surveyed copy their files onto more than one device, such as having a file on a computer and a portable MP3 player.

CEA offers several tips for consumers to keep digital files safe:

If you are saving content onto a CD, DVD, USB Flash Drive or other removable device, keep an extra copy off-site, like an office. This ensures your contents safety in case your home is damaged by events such as a fire, flood or earthquake.
Use an online backup service to protect your content from disasters and/or hardware failures.
Scan and clean your backup drives. Viruses can spread to removable drives and other network connections, damaging your music and photos.
Regularly defragment your hard disk drive. This will ensure your computer is running faster for longer with less wear and tear.
Establish a regular back-up schedule. Many external hard-drives come with software that can assist in the back-up process and help maintain a consistent schedule to ensure data gets saved even if you forget to.
For more tips on how to protect and archive digital content, visit www.DigitalTips.org.

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Appliance Maintenance Tips and Lifespan Estimates

Thursday, April 3rd, 2008

Here are some great tips on caring for your appliances and also some estimates in how long they will likely last.

Refrigerator

Average life span: 14 years

What you need to do: Locate the condenser coils by checking your owner’s manual. Clean them by unplugging the fridge and removing dust gently with a broom or brush. Check the seals by sliding a piece of paper in the closed door. If it falls out, you need to replace your seals. And defrosting regularly can’t hurt.

Inspected and cleaned: Have it done if your at-home remedies don’t work or if there are noises you can’t locate.

Washer, dryer

Average life span: Washer: 12 years; Dryer: 14 years

What to do: Clean the dryer’s lint filter and hoses. Kinks or ridges can cause highly flammable lint to build up, a major cause of fire.

Inspected and cleaned: Replace the hoses on your washing machine every 3 to 5 years.

Window air conditioner

Average life span: 13 years

What you need to do: Changing the air filter every month helps the system run more efficiently and improves air quality. Dirt and neglect are the main causes of AC failures, so clean it well.

Inspected and cleaned: Do it twice a year, usually fall and spring.

Garbage disposal

Average life span: 13 years

What you need to do: Keep anything stringy, like pumpkin pulp, out of it. Also leave out tough produce, anything hard that can dull the blades, and grease, which can clog your pipes.

Inspected and cleaned: Have this looked at whenever your plumbing is checked.

Microwave

Average life span: 5 to 8 years

What you need to do: Microwaves are simple appliances; they don’t know the difference between the food you want cooked and old splatters in the chamber, so keep it clean and don’t exceed the recommended usage.

Inspected and cleaned: Anytime there’s a problem. You should never attempt to work on it yourself.

Dishwasher

Average life span: 9 to 12 years

What you need to do: Be mindful of what you put in it. Leave out small pieces that can get lodged in the drain and make sure everything is dishwasher-safe. Use a powdered detergent, because gels can cloud dispenser and glasswear. Spend the few dollars on a rinse aid, such as Jet-Dry, every month or so.

Inspected and cleaned: Every 2 to 3 years.

Water heater

Average life span: electric: 6 to 14 years; gas: 5 to 9 years

What you need to do: Check your hoses, fittings and release valves. Also watch for damaged areas on the outside of the tank and leaking.

Inspected and cleaned: Every couple of years.

Stove

Average life span: electric, 16 years; gas, 19 years

What you need to do: Check temperature with a thermometer or by following a basic white cake mix and making sure it cooks correctly. Keep it clean inside and out, using nonabrasive cleaners. Check your seals and the hinges, which can bend over time and let heat escape.

Inspected and cleaned: Any time it’s not heating properly.

Central air system

Average life span: 10 to 20 years

What you need to do: Check for leaks around the system and with hose connections. You should also change your filter monthly.

Inspect and cleaned: Seasonally

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How do I pick an insurance company?

Tuesday, April 1st, 2008


There are many insurance companies, so choosing between them can be a challenge. Here are the main points to keep in mind when selecting an insurance company:

  • Licensing
    Not every company is licensed to operate in each state. As a general rule, you should buy from a company licensed in your state, because then can you rely on your state insurance department to help if there’s a problem. To find out which companies are licensed in your state, contact the state insurance department.
  • Price
    Many companies sell insurance policies and prices vary greatly from one to another, so it really pays to shop around. Get at least three price quotes from companies, agents and from the Internet. (you can get quotes right here) Your state insurance department may publish a guide that shows what insurers charge for different policies in various parts of your state.
  • Financial Solidity
    You buy insurance to protect you financially and provide peace of mind. Select a company that is likely to be financially sound for many years, by using ratings from independent rating agencies.
  • Service
    Your insurance company and its representatives should answer your questions and handle your claims fairly, efficiently and quickly. You can get a feel for whether this is the case by talking to other customers who have used a particular company or agent. You may also want to check a national claims database to see what complaint information it has on a company. Also, your state insurance department will be able to tell you if the insurance company you are considering doing business with had many consumer complaints about its service relative to the number of policies it sold.
  • Comfort
    You should feel comfortable with your insurance purchase, whether you buy it from a local agent, directly from the company over the phone, or over the Internet. Make sure that the agent or company will be easy to reach if you have a question or need to file a claim.

hat tip to the III

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